French automotive supplier Faurecia sees sales increase in 2022

An illustration shows a car dashboard with a giant screen on the side of the Faurecia booth during CES 2019 in Las Vegas, Nevada, U.S. January 8, 2019. REUTERS/Steve Marcus

Feb 21 (Reuters) – French auto parts group Faurecia (EPED.PA), which sealed its takeover of Germany’s Hella in early February, forecast a surge in annual sales on Monday as it expects semiconductor shortages ease from the second half of 2022 .

Faurecia now records annual revenue of 17.5 billion to 18 billion euros ($19.89 billion to 20.45 billion), compared to 15.6 billion euros last year.

The group said it will release its full-year guidance for the combined group with Hella on April 28, along with first-quarter sales figures.

The combined group, which will continue to equip cars under the Forvia name, is set to become the world’s seventh largest automotive supplier.

“Our most exciting challenge for 2022 will be the great opportunity to combine our operations and our teams with Hella to create a powerful group, which is much more than the sum of the two pre-existing companies,” said Michel Favre, Chief Financial Officer of Faurecia, in a press release. that Forvia is now well on its way to realizing its ambitions.

Faurecia, which supplies car seats, dashboards and fuel systems to automakers, also said it expects its operating margin to be between 6% and 7% in 2022 from 5.5%. % last year.

Its full-year net loss decreased to €79 million from a loss of €379 million the previous year.

Faurecia said its forecast for 2022 is based on the assumption that global auto production will recover to 78.7 million vehicles in 2022.

($1 = 0.8800 euros)

Reporting by Anait Miridzhanian and Olivier Sorgho; Editing by Kim Coghill and Subhranshu Sahu

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