Faurecia has posted a strong set of 2016 financial results, including net income up 72% to EUR638m.
The company said its results were boosted by high growth of sales to Renault-Nissan, Ford, Hyundai and Cummins.
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Sales to Renault-Nissan were up by 16% (cementing its position as Faurecia’s third largest customer) and Ford sales were up 9%. Sales to Cummins for commercial vehicles were up 6%. Faurecia said that commercial vehicles business represent 9% of sales for Faurecia Clean Mobility (formerly Faurecia Emissions Control Technologies). Sales to Chinese OEMs were up by 48% and now account for 13% of sales (14.5% in H2) in China.
Faurecia said its results for 2016 exceeded guidance and objectives set in 2014. The year’s sales totalled EUR18.71bn, up 2.6%.
Operating income of EUR970m for the year was up 17%, representing 5.2% of total sales.
Patrick Koller, CEO of Faurecia said: “Faurecia’s robust profitability in 2016 of 6.2%, an increase of 80bp, was driven by a strong industrial performance in all regions and an impressive contribution from Asia.
“Our order intake3 of EUR53 billion is up EUR6 billion, showing solid future growth which allows us to fully confirm our 2018 targets. After the disposal of Automotive Exteriors, the Group is now fully focused on its two strategic priorities: Sustainable mobility and Smart life on board. I would like to take this opportunity to thank all Faurecians for their 2016 contribution.”
