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.

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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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