Nanterre (France), April 23, 2012
Faurecia continues on strong growth path outside Europe
Consolidated sales up 1.7% in the first quarter of 2013
- Faurecia's consolidated sales for the first quarter of 2013 rose 1.7% to €4,369.5 million versus the first quarter of 2012
- Product sales reached €3,417.3 million , with growth outside Europe up 19%:
- Strong growth in Asia: up 20.5%;
- Sustained growth in North America: 21.5%;
- Decline in Europe of 8,6%, in-line with the fall in production observed in this region;
- Continued improvement in the geographical balance with sales outside Europe reaching 45% of sales in the first quarter 2013 compared to 39% for the same period in 2012.
GROUP SALES FOR THE FIRST QUARTER OF 2013
Faurecia consolidated sales totalled €4,369.5 million for the first quarter of 2013, up 1.7%. This figure includes sales from the acquisition of the Ford plant in Saline, Michigan (USA) consolidated since June 1, 2012 (€122.4 million sales), sales for Plastal France, consolidated since August 30, 2012 (€14.7 million sales), sales for Sora Composites France, consolidated since July 1, 2012 (€11.5 million) for Borgers and Mecaplast (France/Czech Republic) consolidated since March 1, 2012 for an amount of €8.6 million.
At constant exchange rate and on a comparable basis, sales were down 0.9% in the first quarter of 2013:
- Product sales (parts and components delivered to automakers) totalled €3,417.3 million in the first quarter of 2013, an increase of 1.9% but a contraction of 1.4% on a like-for-like basis.
- Monolith sales[1], included in exhaust catalytic converters, were down 5.0% at €687.0 million, a decrease of 4.5% at constant exchange rates.
- Development, tooling and prototype sales grew by 20.4% in the first quarter of 2013 to €265.2 million, an increase of 18.9% like for like, as a result of the continued high development activities on new contracts.
Sales by type
| In € million | Q1-2013 | Q1-2012 | Change (%) | Change (%)[2] |
| Consolidated sales | 4,369.5 | 4,296.6 | 1.7 | (0.9) |
| Product sales | 3,417.3 | 3,353.1 | 1.9 | (1.4) |
| Monolith sales | 687.0 | 723.3 | (5.0) | (4.5) |
| Development, tooling & prototypes for third parties | 265.2 | 220.2 | 20.4 | 18.9 |
Sales significantly outperformed the market in all growth regions
(Change is shown on a like-for-like basis, Source of production figures = IHS Automotive, March 2013).
- Europe: product sales fell significantly, down by 9.9% to €1,875.9 million, in-line with the fall of light vehicle production estimated at 9% in the same period. Product sales in Europe scaled back from 61% to 55% of total.
- North America: product sales stood at €963.9 million, up 6.5% whereas light vehicle production was stable over the quarter. Growth was driven by the strong growth in the interior systems business and automotive seating. Sales to Nissan grew 55% and to Ford by 14%. Product sales in North America grew from 24% to 28% of the group's total.
- Asia: demonstrated continued strong growth of 19.6% to €371.7 million with an increase of 24.2% in China. Over the period light vehicle production rose 3% in Asia and 14% in China. Sales to Ford more than doubled (+106%) while those to GM increased 47%. Product sales in Asia grew from 9% to 11% of the total.
- South America: product sales grew 21.0%, to €157.6 million. At the same time, light vehicle production grew by +6%. Sales to Ford expanded by 59% and those to PSA by 61%.
Product sales by region
| In € million | Q1-2013 | Q1-2012 | Change (%) | Change (%)* |
| Product sales | 3,417.3 | 3,353.1 | 1.9 | (1.4) |
| Europe | 1,875.9 | 2,053.0 | (8.6) | (9.9) |
| North America | 963.9 | 793.5 | 21.5 | 6.5 |
| Asia | 371.7 | 308.6 | 20.5 | 19.6 |
| China | 298.1 | 238.6 | 24.9 | 24.2 |
| South America | 157.6 | 148.8 | 5.9 | 21.0 |
* = at constant exchange rates and on a comparable basis.
PRODUCT SALES BY BUSINESS GROUP
(Change is shown on a like-for-like basis).
Automotive Seating
Product sales totalled €1,205.7 million, a fall of 4.5%, mainly impacted by the European slowdown. It posted a solid growth in North America and in Asia.
Interior Systems
Product sales totalled €967.9 million (of which €118.2 million from Saline), an increase of 1.1%, sustained by good momentum in North America and limited decline in Europe.
Emissions Control Technologies
Product sales totalled €827.5 million, an increase of 2.1%, and generating 66% out of Europe and supported by strong growth in China and South America.
Automotive Exteriors
Product sales totalled €416.1 million, a drop of 4.7%, like-for-like, with Europe representing 92% of product sales.
A conference call with Frank Imbert (CFO) will take place today at 8:00am (Paris time).
Dial-in numbers France: +33 1 70 99 42 71 / UK: +44 20 7784 1036 / USA: +1 646 254 3367
Confirmation Code: 3504411
About Faurecia
Faurecia is the world's sixth-largest automotive equipment supplier with four key Business Groups: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2012, the Group posted total sales of €17.4 billion. At December 31, 2012, Faurecia employed 94,000 people in 34 countries at 320 sites, including 30 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter (OTC) market. For more information, visit: www.faurecia.com
| Contacts | MediaOlivier Le FriecHead of Media RelationsTel: +33 1 72 36 72 58Cell: +33 6 76 87 30 17olivier.lefriec@faurecia.com | Analysts/Investors Eric-Alain Michelis Director of Financial Communications Tel.: +33 1 72 36 75 70Cell: +33 6 64 64 61 29eric-alain.michelis@faurecia.com |
APPENDIX
Product sales
| In € million | Q1-2013 | Q1-2012 | Change (%) | Change (%)* |
| Product sales | 3,417.3 | 3,353.1 | 1.9 | (1.4) |
| Automotive Seating | 1,205.7 | 1,273.1 | (5.3) | (4.5) |
| Interior Systems | 967.9 | 845.0 | 14.5 | 1.1 |
| Total Interior Modules | 2,173.7 | 2,118.2 | 2.6 | (2.1) |
| Emissions Control Technologies | 827.5 | 823.1 | 0.5 | 2.1 |
| Automotive Exteriors | 416.1 | 411.8 | 1.1 | (4.7) |
| Total Other Modules | 1,243.6 | 1,234.9 | 0.7 | (0.3) |
* = at constant exchange rates and on a comparable basis.
Consolidated sales
| In € million | Q1-2013 | Q1-2012 | Change (%) | Change (%)* |
| Consolidated sales | 4,369.5 | 4,296.6 | 1.7 | (0.9) |
| Automotive Seating | 1,259,0 | 1,321.3 | (2.7) | (1.9) |
| Interior Systems | 1,089.7 | 964,7 | 15.3 | 2.8 |
| Total Interior Modules | 2,348.7 | 2,286.0 | 4.9 | 0.2 |
| Emissions Control Technologies | 1,563.7 | 1,579.0 | 1.1 | 2.3 |
| Automotive Exteriors | 457.1 | 431.6 | 8.1 | 2.0 |
| Total Other Modules | 2,020.8 | 2,010.6 | 2.6 | 2.2 |
* = at constant exchange rates and on a comparable basis.
