In the English version of the Faurecia press release distributed this morning, a typo was found in the second table on page 2, first line, the last figure should read 5.3% (instead of 13.3% as previously indicated). The corrected release is attached.
Nanterre, April 24, 2012
Consolidated sales increased 8.4% in first quarter 2012
- Faurecia's consolidated sales for the first quarter of 2012 rose 8.4% to €4,297 million, or +6% at constant exchange rates and on a comparable basis.
- Product sales reflected:
- A slight decline in Europe of 2.0% despite a significant drop in production;
- Rapid growth in North America: up 26% like-for-like;
- Ongoing expansion in Asia: up 16% like-for-like.
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GROUP SALES FOR THE FIRST QUARTER OF 2012
Faurecia sales totaled €4,296.6 million in the first quarter of 2012, up 8.4%. This figure includes sales for the Madison plant (Mississippi, USA), consolidated since April 4, 2011 (€43.8 million).
At constant exchange rates and on a comparable basis, sales were up 6.0% in the first quarter of 2012
Sales by type:
- Product sales (deliveries of parts and components to automakers) totaled €3,353.1 million in the first quarter of 2012, an increase of 8.0% representing a growth of 5.3% at constant exchange rates and on a comparable basis. This figure includes €43.8 million in product sales from the Madison plant.
- Monolith sales, included in exhaust catalytic converters, were up 12.1% at €723.3 million, an increase of 10.7% at constant exchange rates.
- R&D, tooling, and prototype sales grew by 2.7% in the first quarter of 2012 to €220.2 million, an increase of 2.3% at constant exchange rates.
Breakdown of Q1 product sales by region:
(Change is shown at constant exchange rates and on a comparable basis).
- Europe: €2,053.0 million, down 2.0%, whilst light vehicle production declined by 4.6%;
- North America: €793.5 million, up 25.5%, whereas light vehicle production rose 16.3% over the quarter;
- South America: €148.8 million, up 3.5% despite light vehicle production down 6.1% over the quarter;
- Asia: €308.6 million, up 15.7% (including an increase of 11.1% in China). In Asia light vehicle production rose 10.8% in Q1-2012 (including a 2.4% drop in China).
PRODUCT SALES BY BUSINESS GROUP
(Change is shown at constant exchange rates and on a comparable basis).
Automotive Seating
Product sales totaled €1,273.2 million (of which € 43.8m from the Madison plant), an increase of 1.8%:
Interior Systems
Product sales totaled €845.0 million, up 8.0%:
Emissions Control Technologies
Product sales totaled €823.1 million, an increase of 13.3%:
Automotive Exteriors
Product sales totaled €411.8 million, a decrease of 3.2%. Europe represented 96% of product sales.
PERSPECTIVES
The good sales momentum in Q1 is indicative of an improving geographical mix of Faurecia's sales and of an enlarged client portfolio.
In Q2-2012, light vehicle production in Europe is expected to decline more than in Q1 whilst other markets are expected to continue growing at a steady pace.
Against this backdrop, Faurecia confirms the 2012 objectives announced on February 8, 2012.
