/ Industry, News / Europe: Faurecia profit up 34% thanks to emerging markets

Europe: Faurecia profit up 34% thanks to emerging markets

Linked In Share
Europe: Faurecia profit up 34% thanks to emerging markets

Faurecia, which is Europe’s largest producer of car interiors announced its second-half earnings went up 34% thanks to growing sales in Asia and a welcomed recovery start in the home region.

According to a statement form Nanterre, France-based Faurecia, the company’s operating profit went up to 282 million euros ($384 million) from 211 million euros a year earlier, while revenue surged 1.9 % to 8.76 billion euros.

The manufacturer, 52 % owned by PSA Peugeot Citroen has outlined its expansion plans for Asia and North America, aimed at lowering their dependence on the European market and said it has an operating profit target of 4.5 to 5 % of sales by 2016.

“The main positive surprise comes on the cash front, with net debt reduction higher than what consensus had forecast,” said Thomas Besson, a Paris-based analyst at Kepler Cheuvreux who recommends buying the shares. “The stock should react positively.”

PSA, Europe’s second-biggest carmaker, has the Faurecia holding now as its only big remaining asset – which could be easily sold because of its good performance, aiding the ailing carmaker in securing the cash it needs to restructure.

Via Bloomberg

by Aurel Niculescu (my Google+) - Wednesday, February 12th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
europe faurecia profit


Discuss: Europe: Faurecia profit up 34% thanks to emerging markets

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Ecclestone determined to change 2016 engine rules
Ecclestone determined to change 2016 engine rulesDec.20 (GMM/Inautonews.com) Bernie Ecclestone has confirmed reports he remains determined to shake up F1's engine rules. We ...
De la Rosa leaves Ferrari, Vergne signs up
De la Rosa leaves Ferrari, Vergne signs upDec.20 (GMM/Inautonews.com) Ferrari has confirmed speculation Pedro de la Rosa is vacating his test-driver post. It was ...
2016 CT6 Cadillac gets streaming rearview technology
2016 CT6 Cadillac gets streaming rearview technologyThe streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, ...
US: Ally gets out of 6 years bailout
US: Ally gets out of 6 years bailoutAlly Financial Inc. stated that it would finally resolve its bailout after the U.S. government will sell the last $1.25 billion ...
Daimler puts aside €600 million for EU antitrust investigation
Daimler puts aside €600 million for EU antitrust investigationThe Germany-based company, Daimler, stated on Thursday it is putting aside 600 million euros to cover any potential costs that ...
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyer
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyerAvtoVAZ and the Renault-Nissan alliance will come together in terms of purchasing activities in Russia. The merged unit will now ...
Report – Volkswagen will meet its 2017 cost-cutting goal
Report – Volkswagen will meet its 2017 cost-cutting goalVolkswagen CEO, Martin Winkerton, has said according to a source that the carmaker is on the right track to reach its goal of ...
GM’s bankrupt predecessor helps customers get the $10 billion compensation
GM’s bankrupt predecessor helps customers get the $10 billion compensationGeneral Motors customers gained a new friend in their run for the compensation worth $10 billion. The automaker’s bankrupt ...
F1 to have new engine rules in 2016 – report
F1 to have new engine rules in 2016 – reportDec.19 (GMM/Inautonews.com) F1 is now speeding towards yet another new set of engine regulations. On Thursday at a Geneva ...
GM and Jaguar Land Rover stopped deliveries to Russia
GM and Jaguar Land Rover stopped deliveries to RussiaIn response to the slide in the rouble’s value, automakers, General Motors and Jaguar Land Rover included, decided to stop ...
Uber wants to patent its gouging prices
Uber wants to patent its gouging pricesWhile critics accuse Uber of price gouging over the high fees asked in Sydney for the people who were fleeing a hostage crisis, ...
Ford closes Genk Plant in Belgium
Ford closes Genk Plant in BelgiumWith a production of around 14 million cars over the past 50 years, Ford shut the doors of its plant in Genk, Belgium just a day ...
Price of U.S. gas reaches under $2.50 a gallon
Price of U.S. gas reaches under $2.50 a gallonU.S. drivers are paying less than 2.50 dollars a gallon at the gasoline pump for the first time in more than 5 years. Retail ...
Toyota will invest $126M to expand powertrain operations
Toyota will invest $126M to expand powertrain operationsToyota announced today that it will invest $126 million in the expansion of its powertrain operations in Ann Arbor and also in ...
Spyker declares bankruptcy
Spyker declares bankruptcyOn Tuesday, Spyker, the Dutch sportscar maker which owned Saab, was declared bankrupt when not succeeding to secure a loan that ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mazda_tokyo_salon
audi_sound_Q7
hyundai_infotainment_carplay_android_auto
Rolls-Royce_Suhail
puritalia-4270
918_crash
Tacoma_teaser0
Ferrari_F12_PP
Lexus_F_teaser0
lamborghini aventador crash india 1
BMW M4 Coupe G-Power tuning 1
Jeep-Renegade-1

More automotive from inautonews
The streaming video rearview technology will expand the driver’s vision in the upcoming 2016 CT6, eliminating any rear seat, rear pillar or passenger obstructions. It will also get rid of the traditional blind spots and any other impediments of the lanes view. The new car from Cadillac will be ...
read more
Inautonews Editors Section
Test Drive: Ford Fiesta ST
Test Drive: Ford Fiesta ST The current generation of the Ford Fiesta ST has been officially presented to the public back in March, 2012, during the Geneva Motor Show, and it ...
Test Drive: Renault Twizy – Back to basics
Test Drive: Renault Twizy – Back to basics Renault has been producing the Twizy for a couple of years now, in its Valladolid, Spain, facility but spotting one on European roads can turn out ...
Test Drive: Mercedes-Benz SL400
Test Drive: Mercedes-Benz SL400 The Mercedes-Benz SL is currently in its sixth generation and since the company has released a new entry-level, the SL400, which is basically the ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [Video] Swedish magazine says new Mondeo is heavier than claimed, could be illegal to drive fully loadedTeknikens Värld, a Swedish magazine that became (in)famous back in 1997 for coining the Mercedes ... Recall roundup: Ford vehicles for Takata airbag issue in the USFord Motor Co, the second-largest US automaker has decided to expand the recall of Takata-equipped ...
Safety Section