Faurecia has posted 2014 net income up 89% to EUR166m (US$189m), while total sales rose 5.5% to EUR18.8bn.
Operating income was EUR673m, up 25%, representing 3.6% of total sales, compared with 3% in 2013, while net financial debt was EUR1.39bn billion, down EUR131m.
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For the second half of last year, Faurecia said total sales increased 7.1% to EUR9.5bn, while operating income was EUR363m, up 29%, representing 3.8% of total sales, compared with 3.2% in 2013.
“In 2014, Faurecia achieved a solid sales increase, mainly driven by outstanding growth in China, where sales rose by over 20% for the sixth consecutive year and in Europe, where growth stood at 7%, much higher than the growth of automotive production,” said Faurecia chairman and CEO, Yann Delabriere.
“Faurecia accelerated its technological leadership in all of its business groups, with first orders for new technologies in emissions control for commercial vehicles, energy recovery and composite tailgates.
“Faurecia is well on the way to meeting its targets for 2016.”
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