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Faurecia warned its operating income could decrease

April 26/2012
(polyestertime) -- Faurecia, the world's biggest maker of car interiors and exhaust systems, confirmed its full-year outlook but warned that its operating income could be at the lower end of its previous forecasts if weakness in the European market persists. 

Faurecia, which also makes seats and plastic car body parts for clients including Volkswagen's Audi brand, posted an 8.4 percent gain in quarterly sales, as strong demand in North America and Asia offset a slight decline in Europe. 

"The general idea is that we're quite in line with  our guidance but that if Europe continues to develop at a substantially lower level than last year, we would be more at the low end of the guidance," Chief Financial Officer Frank Imbert told analysts in a conference call. 

"We have no reason to modify the range, the key is still to know where we stand within the range and that depends largely on Europe," he added. 

Faurecia said in February that it forecast full-year operating income of between Eur 610-670 million. The higher end of the range would mean an increase of 3 percent from last year's EUR651 million, while the lower end would signify a 6 percent drop.
Author:Anna Larionova
Tags:stekloplastic, car components, automobile chemistry.
Category:General News
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