Faurecia has unveiled first half profits up 21% to EUR311m (US$417m) with sales also rising 4% to EUR9.33bn.
The supplier says its net cash flow at EUR177m exceeded target, while it “outperformed” automotive production in Europe and Asia, with full-year 2014 guidance revised upwards.
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“Faurecia posted a solid sales growth during the first half of 2014, driven in particular by remarkable growth in Asia, where sales jumped more than 20%, as well as in Europe, where Faurecia’s growth has outpaced the rise in automotive production,” Faurecia said chairman and CEO, Yann Delabrière.
“Faurecia improved its profitability with an operating margin up 50 basis points. All of Faurecia’s activities showed improvement, notably Faurecia Emissions Control Technologies, where profitability rose 260 basis points.”
