Faurecia’s sales up by 12 percent in Q1
Faurecia announces its Q1 sales were up 12.2 percent on an organic basis, with double-digit growth for Seating, Interiors and Clean Mobility.
Faurecia’s assumption that worldwide automotive production should amount to 76.6m vehicles in 2021 remains valid, considering the current shortage of electronic components, a release shows.
“In Q1, our sales showed double-digit organic growth, with strong outperformance in all regions. Organic sales growth was solid across our different activities, despite the shortage of components during the quarter. Growth was particularly strong in China, where our sales exceeded pre-Covid sales of Q1 2019.
In Q2, even taking into account a negative impact from the shortage of electronic components, we will deliver very strong organic sales growth and outperformance, driven by the start of production of new programs.
We are fully on track to achieve all our financial targets for the year and our order intake objective.
After the successful spin-off, Faurecia has now a free float of 85% with an enlarged international shareholder base and an increased share liquidity,” said Patrick Koller, CEO Faurecia.