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Faurecia SE — Earnings Release 2011
Apr 19, 2011
1321_iss_2011-04-19_e84d6d04-881a-48a1-8886-b26f96066861.pdf
Earnings Release
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Nanterre, April 19, 2011
Sustained growth in first quarter 2011
Increase of 24% in consolidated sales
- Faurecia's consolidated sales for the first quarter of 2011 rose 24% to €3,963 million, or 15% at constant exchange rates and on a comparable basis.
- Product sales reflected:
- Strong growth in the Emissions Control Technologies Business Group: up 27% (24% like-for-like);
- Continuing improvement in North America: up 35% (31% like-for-like);
- Ongoing expansion in Asia: up 29% (23% like-for-like).
GROUP SALES FOR THE FIRST QUARTER OF 2011
Faurecia sales totaled €3,963.0 million in the first quarter of 2011, up 24%. This figure includes sales for Plastal Germany, consolidated since April 1, 2010 (€135.9 million), and Plastal Spain, as of October 1, 2010 (€46.7 million). Angell-Demmel business activities incorporated on January 1, 2011, contributed €17.5 million to Faurecia sales in the first quarter.
At constant exchange rates and on a comparable basis, sales were up 15% in the first quarter of 2011 (excluding the contribution from Plastal Germany, Plastal Spain and Angell-Demmel).
Sales by type:
- Product sales (deliveries of parts and components to automakers) totaled €3,103.6 million in the first quarter of 2011, an increase of 23% representing a growth of 13% at constant exchange rates and on a comparable basis. This figure includes €156.3 million in product sales from Plastal and €17.5 million in product sales from Angell-Demmel.
- Monolith sales, included in exhaust catalytic converters, were up 33% at €644.9 million, an increase of 30% at constant exchange rates and on a comparable basis.
- R&D, tooling, and prototype sales grew by 18% in the first quarter of 2011 to €214.5 million, an increase of 2% at constant exchange rates and on a comparable basis.
SALES
| In €m | Q1 2011 | Q1 2010 | Change | Change (*) |
|---|---|---|---|---|
| Consolidated sales | 3,963.0 | 3,202.4 | 23.7% | 15.1% |
| of which Product sales | 3,103.6 | 2,534.1 | 22.5% | 13.3% |
| of which Monolith sales | 644.9 | 486.8 | 32.5% | 29.8% |
| of which Development, tooling & prototypes for third parties |
214.5 | 181.5 | 18.1% | 2.1% |
(*) at constant exchange rates and on a comparable basis
Breakdown of Q1 product sales by region:
- Europe: €2,087.2 million (up 18%), an increase of 8%*, in line with light vehicle production;
- North America: €568.7 million (up 35%), an increase of 31%* whereas light vehicle production rose by 16%;
- South America: €146.8 million (up 33%), an increase of 24%* for a light vehicle production up 8%;
- Asia: €249.7 million (up 29%), an increase of 23%* (including an increase of 20% in China), whereas light vehicle production rose by 9%.
- * at constant exchange rates and on a comparable basis.
| In €m | Q1 2011 | Q1 2010 | Change | Change (*) |
|---|---|---|---|---|
| Product sales | 3,103.6 | 2,534.1 | 22.5% | 13.3% |
| Europe | 2,087.2 | 1,766.1 | 18.2% | 7.7% |
| North America | 568.7 | 422.1 | 34.7% | 31.1% |
| South America | 146.8 | 110.5 | 32.8% | 23.9% |
| Asia | 249.7 | 193.4 | 29.1% | 23.2% |
| China | 197.5 | 157.4 | 25.5% | 19.5% |
PRODUCT SALES BY REGION
(*) at constant exchange rates and on a comparable basis
Press Release
PRODUCT SALES BY BUSINESS GROUP
NB: Change is shown at constant exchange rates and on a comparable basis.
Automotive Seating
Product sales totaled €1,188.0 million, an increase of 11%:
- up 6% in Europe
- up 20% in North America
- up 52% in South America
- up 19% in Asia.
Interior Systems
Product sales totaled €775.4 million (including €17.5 million from Angell-Demmel business activities), up 12%:
- up 6% in Europe
- up 37% in North America
- up 30% in South America
- down 3% in Asia.
Emissions Control Technologies
Product sales totaled €715.7 million, an increase of 24%:
- up 20% in Europe
- up 33% in North America
- down 4% in South America
- up 36% in Asia.
Automotive Exteriors
Product sales totaled €424.5 million (including €156.3 million from Plastal business activities), an increase of 8%. Europe represented 97% of product sales.
APPENDIX
PRODUCT SALES
| In €m | Q1 2011 | Q1 2010 | Change | Change (*) |
|---|---|---|---|---|
| Product sales | 3,103.6 | 2,534.1 | 22.5% | 13.3% |
| Automotive Seatin ' g | 1,188.0 | 1,062.2 | 11.8% | 10.5% |
| Interior Systems | 775.4 | 669.7 | 15.8% | 11.7% |
| Total Interior Modules | 1,963.4 | 1,731.9 | 13.4% | 11.0% |
| Emissions Control Technologies | 715.7 | 562.8 | 27.2% | 23.9% |
| Automotive Exteriors | 424.5 | 239.4 | 77.3% | 8.0% |
| Total Other Modules | 1,140.2 | 802.2 | 42.1% | 17.7% |
(*) at constant exchange rates and on a comparable basis
SALES
| In €m | Q1 2011 | Q1 2010 | Change | Change (*) |
|---|---|---|---|---|
| Total sales | 3,963.0 | 3,202.4 | 23.7% | 15.1% |
| Automotive Seatin ' g | 1,233.6 | 1,117.0 | 10.4% | 9.1% |
| Interior Systems | 875.9 | 751.9 | 16.5% | 12.7% |
| Total Interior Modules | 2,109.5 | 1,868.9 | 12.9% | 10.6% |
| Emissions Control Technologies | 1,387.4 | 1,078.4 | 28.7% | 25.7% |
| Automotive Exteriors | 466.0 | 255.1 | 82.7% | 7.2% |
| Total Other Modules | 1,853.5 | 1,333.5 | 39,0% | 20.7% |
(*) at constant exchange rates and on a comparable basis
About Faurecia
Faurecia is the world's #6 automotive equipment supplier with four key Business Groups: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2010, the Group posted total sales of 13.8 billion euros. It employs 75,000 people in 33 countries at 238 sites and 38 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 Director Investor Relations Tel: +33 (0)1 72 36 75 70 Mob: +33 (0)6 64 64 61 29 [email protected]