Faurecia has posted consolidated third quarter sales of EUR4.12bn (US$3.5bn) up 5.2% at constant exchange rates and on a comparable basis.

Reported sales were up 0.8%, while during the quarter, exchange rate variations weighed 4% on business activity.

Product sales - parts and components delivered to automakers - totalled EUR3.13bn during the third quarter of 2013, up 1.9% like-for-like and down 2.7% on a reported basis.

Development, tooling and prototype sales grew by 20.2% in the third quarter of 2013 to EUR313.3 m, as a result of continued high development activities on new contracts.

Faurecia is confirming its targets for 2013, namely an increase in sales to reach between EUR17.8bn and EUR18bn and an operating income improvement, particularly due to an accelerated recovery in North America,

The supplier also anticipates a EUR50m reduction in fixed costs in Europe and sustained high profitability in Asia and for the year, positive net cash flow before restructuring (estimated at EUR120m).

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Faurecia consolidated sales up 5.2% in third quarter of 2013

Faurecia consolidated sales stood at €4,116.9 million in the third quarter of 2013, up 5.2% at constant

exchange rates and on a comparable basis. Reported sales were up 0.8%. Over the quarter, exchange rate

variations weighed 4% on the business activity.

Per type of sales the breakdown is as follows:

? Product sales (parts and components delivered to automakers) totaled €3,129.9 million during the third

quarter of 2013, up 1.9% (like-for-like) and down 2.7% on a reported basis;

? Monolith sales1 were up 10.8% at €673.7 million;

? Development, tooling and prototype sales grew by 20.2% in the third quarter of 2013 to €313.3 million,

as a result of the continued high development activities on new contracts.

SALES PER REGION

? In Europe, product sales declined 1.4% to €1,651.1 million, against €1,675.2 million during the third

quarter of 2012. Like-for-like, the decrease stood at 1.0%. European light vehicle production has stabilized

at a very low level and is expected to grow slightly during the fourth quarter then continue to grow at a very

low pace in 2014, given the modest economic growth expected in Europe.

? In North America, product sales reached €834.8 million, down 13.4%. Like-for-like, the fall was 5.3% over

the period. The decrease is mainly due to an unfavorable sales mix and to additional customer plant

shutdowns to prepare for new vehicle launches. After a period of very strong growth since 2009, the

Group’s sales should continue to grow at more moderate pace, which will allow Faurecia to consolidate its

operational performance and recent acquisitions.

? In Asia, Faurecia continues demonstrating strong growth with product sales rising 21.4% to €422.9 million,

mainly led by a 23.2% growth in China, which represents over 80% of the business in the region. Like-forlike,

the increase is 24.9% in Asia and 25.6% in China, where Faurecia outperformed the market and

continued to gain market share. Our model of profitable growth is thus confirmed in China and Korea.

? In South America, product sales were up 4.4% to €190.3 million. Like-for-like, the growth stood at 26.9%.

This strong growth is expected to continue due to the ramp-up of new industrial sites. However, the Group

remains concerned by the high inflation, the exchange rate deterioration and the slowdown in economic

growth expected both in Brazil and in Argentina.

? In the rest of the world, product sales decreased 34.6% to €30.7 million. Like-for-like, the drop was

15.4%.

1 Monoliths: precious metals and ceramics used in emissions control systems.

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Press release

PRODUCT SALES BY BUSINESS GROUP

Automotive Seating

Product sales reached €1,094.8 million, down 7.0%. Like-for-like, the decline was 3.5%, due to the

unfavorable customer mix in North America.

Interior Systems

Product sales reached €856.1 million, down 3.8%. Like-for-like, the increase was 3.6%, with a negative

perimeter effect of €24.5 million, due to the transfer of cockpit assembly from the Faurecia Louisville

(Kentucky, USA) site to SAS, a non-consolidated joint-venture of Faurecia and Continental.

Emissions Control Technologies

Product sales reached €806.2 million, up 4.9%. Like-for-like, growth stood at 10.4%, driven mainly by Asia

(+25%), North America and the commercial vehicles business (+28.4%).

Automotive Exteriors

Product sales reached €372.8 million, down 2.3%. Like-for-like, the decrease was 2.7%.

OUTLOOK FOR 2013

Faurecia confirms its targets for 2013:

? An increase in sales to reach between €17.8 and 18.0 billion;

? Operating income improvement, particularly due to an accelerated recovery in North America, a €50

million reduction in fixed costs in Europe and sustained high profitability in Asia;

? For the year, positive net cash flow before restructuring (estimated at €120 million).

Original source: http://www.faurecia.com/en/faurecia-consolidated-sales-52-third-quarter-2013