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Faurecia SE — Earnings Release 2012
Apr 24, 2012
1321_iss_2012-04-24_e4d85ac9-b0a2-464d-b831-e54b31226dbf.pdf
Earnings Release
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Press Release
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.
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.
SALES
| In €m | Q1 2012 | Q1 2011 | Change | Change (*) |
|---|---|---|---|---|
| Consolidated sales | 4,296.6 | 3,963.0 | 8.4% | 6.0% |
| of which Product sales | 3,353.1 | 3,103.6 | 8.0% | 5.3% |
| of which Monolith sales | 723.3 | 644.9 | 12.1% | 10.7% |
| of which Development, tooling & prototypes for third parties |
220.2 | 214.5 | 2.7% | 2.3% |
(*) at constant exchange rates and on a comparable basis
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).
| In €m | Q1 2012 | Q1 2011 | Change | Change (*) |
|---|---|---|---|---|
| Product sales | 3,353.1 | 3,103.6 | 8.0% | 13.3% |
| of which Europe | 2,053.0 | 2,094.5 | (2.0%) | (2.0%) |
| of which North America | 793.5 | 568.7 | 39.5% | 25.5% |
| of which South America | 148.8 | 146.8 | 1.4% | 3.5% |
| of which Asia | 308.6 | 249.7 | 23.6% | 15.7% |
| of which China | 238.6 | 197.5 | 20.8% | 11.1% |
PRODUCT SALES BY REGION
(*) at constant exchange rates and on a comparable basis
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.
APPENDIX
PRODUCT SALES
| In €m | Q1 2012 | Q1 2011 | Change | Change (*) |
|---|---|---|---|---|
| Product sales | 3,353.1 | 3,103.6 | 8.0% | 5.3% |
| Automotive Seatin ' g | 1,273.2 | 1,188.0 | 7.2% | 1.8% |
| Interior Systems | 845.0 | 775.4 | 9.0% | 8.0% |
| Total Interior Modules | 2,118.2 | 1,963.4 | 7.9% | 4.2% |
| Emissions Control Technologies | 823.1 | 715.7 | 15.0% | 13.3% |
| Automotive Exteriors | 411.8 | 424.5 | (3.0%) | (3.2%) |
| Total Other Modules | 1,234.9 | 1,140.2 | 8.3% | 7.2% |
(*) at constant exchange rates and on a comparable basis
CONSOLIDATED SALES
| In €m | Q1 2012 | Q1 2011 | Change | Change (*) |
|---|---|---|---|---|
| Consolidated sales | 4,296.6 | 3,963.0 | 8.4% | 6.0% |
| Automotive Seatin ' g | 1,321.3 | 1,233.6 | 7.1% | 1.9% |
| Interior Systems | 964.7 | 875.9 | 10.1% | 9.3% |
| Total Interior Modules | 2,286.0 | 2,109.5 | 8.4% | 4.9% |
| Emissions Control Technologies | 1,579.0 | 1,387.5 | 13.8% | 12.2% |
| Automotive Exteriors | 431.6 | 466.0 | (7.4%) | (7.6%) |
| Total Other Modules | 2,010.6 | 1,853.5 | 8.5% | 7.3% |
(*) at constant exchange rates and on a comparable basis
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 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
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]