Faurecia: Strong Growth in Sales in the 1st Quarter of 2000
11 April 2000
Faurecia: Strong Growth in Sales in the 1st Quarter of 2000PARIS, April 11 During the first quarter of 2000, Faurecia's consolidated sales rose to 1,435.6 MEuros, showing an increase of 38.3% over the same period in 1999. On a pro forma basis, taking into account the acquisition of APAS on December 31, 1999, the increase of sales was 22.6%, of which 3.1% was due to currency fluctuations. 1st quarter in ME 2000 1999 change published pro forma automotive seating 789.7 +13.4% +13.4% exhaust systems 432.5 +249% +41.4% vehicle interior 106.8 +7.1% +7.1% front-end 106.5 +53.7% +53.7% TOTAL 1,435.6 +38.3% +22.6% Sales in the automotive seating division rose 11.3% in Europe, benefiting from sustained growth in the French market (Peugeot 206 and 406, Citroen Picasso, Renault Megane, Scenic and Espace). On a comparable currency basis, sales in North America were up 29.1% due to an increase in volume with Ford and new business with General Motors. In South America the sale of components to Volkswagen and complete seats to Renault led to a sales increase of 46.8%. The acquisition of APAS was responsible for the strong increase in sales in the exhaust systems division. On a comparable basis, and excluding the effect of increased sales of catalytic converters, sales growth was 12.7%. The increase of sales in the vehicle interior division is impacted by the divestment of the steering wheel activity in June 1999. Excluding this activity, sales growth was 16.8%. This figure reflects the increase in airbags, steering column activities (Europe and South America) and instrument panels (Volkswagen and Peugeot). The increase in sales in the front-end division is related to the launch in January 2000 of the new Audi A6 and the restyling of the Audi A4. Sales increases are particularly high due to a weak January 1999. Consequently, the sales growth should be significantly lower for the coming months. Faurecia, No. 5 European automotive equipment supplier, designs, develops and manufactures seating, exhaust systems, vehicle interior modules and front-ends. Taking into account the acquisition of APAS at the end of 1999, proforma sales totaled E 4.8 billion. The Group has 35,000 employees and 110 facilities in 27 countries. CONTACT: Group Communications, +33-1-41-22-70-06, or Fax, +33-1-41-22-70-10