Earnings Release • Oct 23, 2012
Earnings Release
Open in ViewerOpens in native device viewer
Nanterre, October 23, 2012
Faurecia's consolidated sales, for the third quarter 2012, stood at €4,086 million, up 7.9% with respect to the third quarter of 2011 and stable like-for-like.
Product sales stood at €3,217 million, up 3.2% like-for-like.
They reflect1:
All forecasts agree on an amplification of automobile production slowdown in Europe during the fourth quarter of 2012.
Faurecia therefore expects a sharp sales decline in Europe during the last quarter, which will affect its operating income.
In this context, the operating income for the full year 2012 is now expected to be above €500 million.
1 Like-for-like
Faurecia's consolidated sales for the third quarter of 2012 stood at €4,085.7 million, an increase of 7.9%. This includes €136.3 million resulting from a change in scope, mainly due to the acquisition of the Ford plant in Saline, Michigan (USA), consolidated on June 1, 2012, for €112.8 million.
Like-for-like (at constant exchange rates and scope), consolidated sales were stable with respect to the third quarter of 2011.
Excluding sales of monoliths by the Emissions Control Technologies Business Group, sales increased by 2.9%, to €3,477.8 million.
2 Monoliths: precious metals and ceramics incorporated into the emissions control systems.
Product sales stood at €1,177.2 million, up 2.3% compared with the third quarter 2011, like-for-like
Product sales totaled €889.7 million, including €124.3 million resulting from a change in scope, mainly the acquisition of the Saline plant in the USA. They increased 7.7% compared with the third quarter 2011, like-forlike.
Product sales stood at €768.8 million, up 2.2% compared with the third quarter 2011, like-for-like.
Product sales totaled €381.4 million, including €11.6 million resulting from a change in scope following the integration of new composites business in France and the acquisition of the Plastal plant in Hambach (France). They scaled back 0.5% compared with the third quarter 2011, like-for-like.
All forecasts agree on an amplification of automobile production slowdown in Europe during the fourth quarter of 2012. This is today estimated at 11% (Source: IHS Automotive, October 2012).
Despite the increased contribution of other regions and already significant cost adjustments, lower sales in Europe will affect the Group's profitability in the fourth quarter.
For the full year 2012, Faurecia now expects an operating income above €500 million, versus an estimated operating income between €560 and €610 million in July 2012.
| Type of sales (in € million) | Q3-12 | Q3-11 | Change (%) |
Org.* (%) | 9M-12 | 9M-11 | Change (%) |
Org.* (%) |
|---|---|---|---|---|---|---|---|---|
| Product sales | 3,217.1 | 2,865.6 | 12.3 | 3.2 | 9,970 | 9,197.8 | 8.4 | 2.8 |
| Monolith sales | 607.9 | 667.6 | (8.9) | (13.4) | 2,018.2 | 1,992.6 | 1.3 | (2.0) |
| Development, tooling, prototyping and other | 260.7 | 254.2 | 2.6 | 0.2 | 862.1 | 747.4 | 15.3 | 13.4 |
| services | ||||||||
| TOTAL DES VENTES | 4,085.7 | 3,787.4 | 7.9 | 0.1 | 12,850.3 | 11,937.7 | 7.6 | 2.6 |
| Consolidated sales (in € million) | Q3-12 | Q3-11 | Change (%) |
Org.* (%) | 9M-12 | 9M-11 | Change (%) |
Org.* (%) |
|---|---|---|---|---|---|---|---|---|
| Automotive Seating | 1,225.5 | 1,152.8 | 6.3 | 1.8 | 3,894.0 | 3,700.4 | 5.2 | 0.8 |
| Interior Systems | 1,027.7 | 808.5 | 27.1 | 7.8 | 3,096.6 | 2,647.1 | 16.8 | 7.1 |
| Total Interior Modules | 2,253.2 | 1,961.3 | 14.9 | 4.3 | 6,986.6 | 6,347.5 | 10.1 | 3.4 |
| Emissions Control Technologies | 1,417.8 | 1,414.5 | 0.2 | (4.8) | 4,572.9 | 4,263.2 | 7.3 | 3.6 |
| Automotive Exteriors | 414.7 | 411.6 | 0.8 | (3.1) | 1,290.9 | 1,327.0 | (2.7) | (4.2) |
| Total Other Modules | 1,832.5 | 1,826.1 | 0.4 | (4.4) | 5,863.8 | 5,590.2 | 4.9 | 1.8 |
| TOTAL | 4,085.7 | 3,787.4 | 7.9 | 0.1 | 12,850.3 | 11,937.7 | 7.6 | 2.6 |
| Product sales (in € million) | Q3-12 | Q3-11 | Change | Org.* (%) | 9M-12 | 9M-11 | Change | Org.* (%) |
|---|---|---|---|---|---|---|---|---|
| (%) | (%) | |||||||
| Europe | 1,675.2 | 1,716.4 | (2.4) | (4.2) | 5,670.5 | 5,904.7 | (4.0) | (4.9) |
| North America | 964.3 | 636.8 | 51.4 | 19.2 | 2,658.6 | 1,860.4 | 42.9 | 20.9 |
| South America | 182.3 | 177.2 | 2.9 | 9.7 | 499.1 | 493.8 | 1.1 | 6.3 |
| Asia | 348.3 | 282.8 | 23.2 | 9.9 | 999.0 | 790.4 | 26.4 | 14.4 |
| Other | 46.9 | 52.3 | (10.3) | (8.4) | 142.8 | 148.4 | (3.8) | 0.4 |
| TOTAL | 3,217.1 | 2,865.6 | 12.3 | 3.2 | 9,970.0 | 9,197.8 | 8.4 | 2.8 |
| Product sales (in € million) | Q3-12 | Q3-11 | Change (%) |
Org.* (%) | 9M-12 | 9M-11 | Change (%) |
Org.* (%) |
|---|---|---|---|---|---|---|---|---|
| Automotive Seating | 1,177.2 | 1,101.4 | 6.9 | 2.3 | 3,735.2 | 3,551.3 | 2.2 | 0.6 |
| Interior Systems | 889.7 | 684.0 | 30.1 | 7.7 | 2,623.4 | 2,623.9 | 15.7 | 4.8 |
| Total Interior Modules | 2,066.9 | 1,785.4 | 15.8 | 4.3 | 6,358.6 | 5,818.2 | 9.3 | 2.2 |
| Emissions Control Technologies | 768.8 | 711.9 | 8.0 | 2.2 | 2,428.6 | 2,168.3 | 12.0 | 7.9 |
| Automotive Exteriors | 381.4 | 368.3 | 3.6 | (0.5) | 1,182.8 | 1,211.2 | (2.3) | (3.9) |
| Total Other Modules | 1,150.2 | 1,080.2 | 6.5 | 1.3 | 3,611.4 | 3,379.5 | 6.9 | 3.7 |
| TOTAL | 3,217.1 | 2,865.6 | 12.3 | 3.2 | 9,970.0 | 9,197.8 | 8.4 | 2.8 |
* Like-for-like
Faurecia will hold a teleconference in English with Frank Imbert, Chief Financial Officer on Tuesday October 23, 2012 at 8:00am Paris time (7:00am London time). To participate, please call:
France: +33 1 70 77 09 43
UK: +44 20 33 67 94 61
[No pass code needed].
You can also follow the teleconference on our website: www.faurecia.fr or www.faurecia.com.
Faurecia will be holding an Investor Day in London on Monday, November 12, 2012: details available of www.faurecia.com.
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 2011, the Group posted total sales of €16.2 billion. At December 31, 2011, Faurecia employed 84,000 people in 33 countries at 270 sites and 40 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information, visit: www.faurecia.com
Contacts Press
Olivier Le Friec Media Relations Manager Tel.: +33 1 72 36 72 58 Mob: +33 6 76 87 30 17 [email protected] Analysts/Investors Eric-Alain Michelis Investor Relations Tel.: +33 1 72 36 75 70 Mob: +33 6 64 64 61 29 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.