Faurecia Group Sales Increase by 8.2% in 1999
12 January 2000
Faurecia Group Sales Increase by 8.2% in 1999
PARIS, Jan. 12 -- The fourth quarter of the year saw further
significant sales growth at Faurecia, resulting in a consolidated sales figure
for the full financial year of 4,261.9 million euros, an increase of 8.2% over
1998 (3,937.2 million euros). This growth reflects the positive impact of
sales to French car manufacturers, which increased by 12.1% during the year.
in million of euro 4th quarter annual total at end of December 1999
1999 change 1999 change
1999 / 1998 1999 / 1998
Automotive seating 765.5 10.9 % 2,830.9 7.5 %
Exhaust systems 210.6 19.5 % 752.0 17.0 %
Vehicle interior 108.4 (1.2)% 386.9 0.4 %
Front-end 77.5 (0.6)% 292.1 6.0 %
Total 1,162.0 10.2 % 4,261.9 8.2 %
The automotive seating division recorded sales growth of 7.5% in 1999.
Business was especially buoyant in France, thanks to favorable market
conditions and the group's presence in high-growth models (Peugeot 206,
Renault Megane, Matra Espace). In Germany, sales dipped slightly, with an
increase in sales to the VW Group (Golf and Audi A3/A4) almost entirely
offsetting the decline in sales to BMW (Series 3). Strong performances with
the Peugeot 206, the Rover 75 and the Honda Accord in the UK generated
significant growth in this market in 1999.
The exhaust systems division achieved significant sales growth (17%) in
1999, due in particular to the increase in sales of the Peugeot 206. 9.8% of
sales growth is accounted for by an increased proportion of sales of catalytic
converters.
The vehicle interior division saw a slight decrease in sales during the
fourth quarter, attributable to the divestment of steering wheel operations in
June 1999 and to high sales levels of Passat instrument panels in late 1998.
The result for the year as a whole reflects the positive impact of an increase
in airbag sales.
Sales in the front-end module division were held back in the fourth
quarter by a decrease in tooling sales. Nonetheless the division achieved
annual sales growth of 6% in 1999 -- due in particular to our higher level of
involvement in the new Audi A4.
Faurecia specializes in the development, design and production of
automotive equipment and has four core businesses: seating, exhaust systems,
vehicle interior and front-end. The Group posted 1999 sales of E 4.3 billion.
Faurecia is present in 25 countries and employs a total of 30,000 people at
more than 100 locations (excluding APAS).
CONTACT: Faurecia Group Communications, +33-1-41-22-70-06, or
fax, +33-1-41-22-70-10