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Faurecia SE

Earnings Release Apr 23, 2013

1321_iss_2013-04-23_dd004dda-d060-43be-98ba-19bfba19975c.pdf

Earnings Release

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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 sales1, 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.
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 BY TYPE

1 Monoliths: precious metals and ceramics used in emissions control systems. 2 At constant exchange rates and on a comparable basis.

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%.
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

Product sales by region

* = 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 Media

Olivier Le Friec Head of Media Relations Tel: +33 1 72 36 72 58 Cell: +33 6 76 87 30 17 [email protected] Analysts/Investors Eric-Alain Michelis Director of Financial Communications Tel.: +33 1 72 36 75 70 Cell: +33 6 64 64 61 29 [email protected]

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 827.5 823.1 0.5 2.1
Technologies
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 1,563.7 1,579.0 1.1 2.3
Technologies
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.

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