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Faurecia SE

Earnings Release Apr 19, 2010

1321_iss_2010-04-19_7656f88c-97b9-4972-8a4c-2cd7e0a26bef.pdf

Earnings Release

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Press release

Nanterre, April 19, 2010

First-quarter sales 2010

  • Product sales up 41%*:
  • o 92%* increase in Asia;
  • o 68%* increase in North America;
  • o 31%* increase in Europe.

Upward revision of first-half growth forecasts.

* Sales excluding monoliths, tooling and development for third parties like-for-like and at constant exchange rates.

Faurecia's consolidated sales for the first quarter of 2010 stood at 3,202 million euros, up by 59.5%. It includes 533 million euros from Emcon (up 33% at constant exchange rates), consolidated since January 1, 2010. On a like-for-like basis, first-quarter growth stood at 32.2%.

GROUP SALES

Product sales are a good indication of activity—comprising delivery of parts and components to automakers—and were up 40.7% (at constant exchange rates and on a comparable basis) in relation to the first quarter of 2009, totaling 2,534 million euros. These integrate 271 million euros generated by Emcon, up 41% (at constant exchange rates and on a comparable basis) versus the first quarter of 2009.

Million euros (EUR) Q1 2010 Q1 2009 Change*
Product Sales 2,534 1,603 40.7%
Automotive Seating 1,062 778 36.7%
Interior Systems 670 454 46.3%
Emissions Control Technologies 563 190 46.1%
Automotive Exteriors 239 181 32.9%

* like-for-like and at constant exchange rates

Press release

Sales of monoliths, included in exhaust system catalytic converters, stood at 487 million euros, up 26.6% (at constant exchange rates and on a comparable basis). The drop in precious metal prices included in monoliths partially compensates the increase in volumes delivered.

Billing for development, tooling and prototype costs totaled 181 million euros, down 23.8% versus the first quarter of 2009, which saw high billing for General Motors and Chrysler.

SALES BY REGION

Product sales for key regions in the first quarter of 2010 were as follows:

  • In Europe, product sales totaled 1,766 million euros, up 31.1%* in line with automotive production for the period;
  • In North America, product sales stood at 422 million euros, up 68.3%*;
  • In South America, product sales totaled 111 million euros, up 40.0%*;
  • In Asia, product sales stood at 193 million euros, up 91.6%*. (88.2%* in China and 99.0%* in South Korea).

* at constant exchange rates and on a comparable basis

SALES BY ACTIVITY

Note: variations at constant exchange rates and on a comparable basis.

Automotive Seating

Product sales totaled 1,062 million euros, an increase of 36.7 %:

  • up 25.2% in Europe;
  • up 78.1% in North America;
  • up 84.1% in South America, driven by sales of the Peugeot 206 and Renault Logan Sandero;
  • up 121.2% in Asia, boosted by the launch of the Citroën C4 and healthy sales for the Nissan Teana and the Volkswagen Golf.

Interior Systems

Product sales stood at 670 million euros, up 46.3% on a comparable basis:

  • up 43.6% in Europe, with the launch of the new Citroën C3 and sales of the Ford Fiesta and Mercedes S-Class;
  • up 55.7% in North America;
  • up 34.8% in South America;
  • up 73.9% in Asia.

Emissions Control Technologies

Product sales totaled 563 million euros, an increase of 46.1%:

  • up 27.6% in Europe;
  • up 67.7% in North America;
  • up 19.8% in South America;
  • up 74.2% in Asia (82.5% in China and 57.6% in South Korea).

Automotive Exteriors

Product sales totaled 239 million euros, up 32.9%. Significantly, 97% of product sales came from Europe.

OUTLOOK FOR THE FIRST HALF OF 2010

First-quarter sales have led Faurecia to an upward revision of its growth prospects for the first half 2010, initially forecast at 15%.

Given the level of activity expected in the second quarter, growth in product sales should reach 28-30%, at constant exchange rates and on a comparable basis.

Faurecia is one of the world's leading (# 5 worldwide) automotive equipment suppliers with four key Business Groups: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2009, the Group posted sales of 9.3 billion euros. It employs 62,000 people in 32 countries at 200 sites and 33 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information visit: www.faurecia.com

Contacts: Media Olivier Le Friec Manager Media Relations Tel: +33 (0)1 72 36 72 58 Mob: +33 (0)6 76 87 30 17 [email protected] Analysts/Investors Eric-Alain Michelis Vice President Investor Relations Tel: +33 (0)1 72 36 70 94 Mob: +33 (0) 6 64 64 61 29 [email protected]

ANNEXE

Sales
------- --
Million euros (EUR) Q1 2010 Q1 2009 Change*
Consolidated sales 3,202 2,008 32.2%
of which Product sales 2,534 1,603 40.7%
of which Monolith sales 487 184 26.6%
of which Development, Tooling and Prototype
costs for third parties
181 221 -23.8%

* at constant exchange rates and on a comparable basis

Pro-forma sales
Million euros (EUR) Q1 2010 Q1 2009 Change*
Consolidated sales 3,202 2,008 32.2%
of which : Faurecia 2,670 2,008 32.0%
of which : Emcon Technologies 532 396 33.0%
Product Sales 2,534 1,792 4.%
of which : Faurecia 2 264 1 603 40.7%
of which : Emcon Technologies 270 189 41.0%
Monolith Sales 487 375 26.6%
of which : Faurecia 244 184 26.6%
of which : Emcon Technologies 243 191 26.6%
Development, Tooling & Prototype Sales 181 237 -23.8%
of which : Faurecia 162 221 -26.7%
of which : Emcon Technologies 19 16 16.2%

* at constant exchange rates and on a comparable basis

Product sales by region

Million euros (EUR) Q1 2010 Q1 2009 Change*
Product Sales 2,534 1,603 40.7%
of which : Europe 1,766 1,269 31.1%
of which : North America 422 185 68.3%
of which : South America 111 45 40.0%
of which : Asia 193 93 91.6%
of which : China 157 80 88.2%

* at constant exchange rates and on a comparable basis

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