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April 14, 2005

FRANCE: Faurecia Q1 sales up 0.4 percent

Faurecia sales increased 0.4% to €2,616.1 in the first quarter of 2005. The group, over 70% owned by PSA Peugeot Citroen, said that it maintained growth outside Europe. However, it said that in Europe, the decline in automobile production in the first quarter of 2005, coupled with the maturity of key vehicles for which Faurecia supplies, led to virtually stable sales.

Faurecia sales increased 0.4% to €2,616.1 in the first quarter of 2005. The group, over 70% owned by PSA Peugeot Citroen, said that it maintained growth outside Europe. However, it said that in Europe, the decline in automobile production in the first quarter of 2005, coupled with the maturity of key vehicles for which Faurecia supplies, led to virtually stable sales.

Faurecia’s first quarter automotive seating sales were €1,206.1 million, up 3.3% over the year-earlier period, or 2.9% at constant exchange rates. Business was boosted by a ramp-up in production of the Audi A3, Citroën C4, Nissan Teana, Opel Astra, Peugeot 407, Pontiac G6 and Renault Grand Scenic, the company said.

Sales for other modules in the vehicle interiors fell by 5.6% and 3.7% at constant exchange rates and on a comparable basis. Faurecia said that its vehicle interiors division does not benefit yet from the development of the activity of the Group outside Europe and the variation of its turnover is accordingly a closer reflection of the evolution of the European automotive production. The main ramp-ups relate to the Ford Focus and the Peugeot 407.

Overall, sales for Vehicle Interior Modules segment were €2,005.2 million, down 0.5% compared with 2004 but up 0.2% at constant exchange rates and on a comparable basis.

The Exhaust Systems division reported first quarter sales of €424.3 million, up 3.9% over 2004. Exhaust Systems continued to grow in North America, driven by Ford sales, particularly due to the Ford Freestyle and Escape models, and General Motors sales with the Chevrolet Cobalt.

First quarter sales for Front end Modules were up 2.5% at €186.6 million. Front end modules sales were boosted by the ramp-ups of the Audi A3 and BMW 1 Series.

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