Faurecia eyes 2025 operating margin above 8% of sales


PARIS — Faurecia said on Monday it is targeting sales close to 25 billion euros ($30.29 billion) and an operating margin above 8 percent of sales by 2025.

“Overall, the group will strongly outperform the market over the next five years, and is particularly well-positioned in the fast-growing premium, electric and commercial vehicle segments as well as in China,” CEO Patrick Koller said in a statement issued on Faurecia’s Capital Market Day.

This would compare with sales of 14.65 billion euros and a margin of 2.8 percent of sales in 2020 as Faurecia was hit by the COVID-19 crisis.

Faurecia targets sales of at least 16.5 billion euros for 2021 and of at least 18.5 billion euros for 2022.

The supplier also expects its operating margin to return close to pre-COVID levels of 7 percent of sales in 2021, rising to 8 percent in 2022.

The decision of automaker Stellantis to distribute its participation in Faurecia to its shareholders will increase Faurecia’s free float, improve its capital market profile and allow Faurecia to affirm its business strategy as an independent company, the group said.



Read original article here

Get real time updates directly on you device, subscribe now.