Faurecia has posted sales growth of 9.3% – versus last year, at constant currencies – in the first quarter and said that all regions significantly outperformed automotive production growth.
The company's three business divisions – seating, interiors and clean mobility – all posted growth (seating +7.5%; interiors +14%; clean mobility +6.8%) at constant currencies. However, the company also said that currencies had a negative impact in the quarter of 6.7% (mostly the USD vs. the euro) leading to actual reported Q1 sales growth of 2.7% (EUR4,315m).
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Patrick Koller, CEO of Faurecia said the first quarter results pointed to strengthened confidence for 2018.
"Our sales in the first quarter of the year posted strong growth at constant currencies and significantly outperformed the automotive production in all regions. The strong year-on-year negative currency impact should gradually reduce in the coming quarters," he said.
"Our expectation of robust double-digit growth in the second quarter further strengthens our confidence for 2018."
Faurecia will host a 'Capital Markets Day' in Paris on May 15 that will present a 'strategic vision for Smart Life on Board (Seating and Interiors) as well as provide an update on Sustainable Mobility and our 2020 financial targets and 2025 ambition for the group.'
