French parts maker Faurecia has targeted sales of around EUR16bn (US$19.6bn) by 2014, with particular emphasis on growth outside Europe.
Specifically, the company wants to see compound annual growth of 12% from 2009-2014, of which 8% should be organic.
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Faurecia wants sales generated outside Europe to grow from 23% in 2009 to 42% in 2014. To that end the majority owned PSA Citroen Peugeot company is targeting a 5% – 6% operating margin by 2014.
At an investor day presentation in Paris today (14 June), Faurecia chairman and CEO Yann Delabriere stressed its Challenge 2009 plan had enabled the company to emerge from the economic crisis and take advantage of industry consolidation, namely Emcon Technologies and Plastal Germany.
The focus will turn, Delabriere added, to four main activities: competitive cost structure; expansion of global programmes and vehicle platforms; product innovation supported by a worldwide engineering network to include China and India and a strong technical and commercial position in North America.
Faurecia recently posted consolidated sales up 59.5% for the first quarter of this year of EUR3.2bn with like for like Q1 growth up 32.2%.
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By GlobalData
