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Faurecia sales rise 7.3 pct on strong Asia performance
October 12, 2017 / 4:27 PM / in 4 days

Faurecia sales rise 7.3 pct on strong Asia performance

PARIS, Oct 12 (Reuters) - French auto parts maker Faurecia said on Thursday quarterly sales rose 7.3 percent as the maker of car seats, exhausts and interiors harnessed strong Asian demand and weathered a North American production slowdown.

Sales excluding passed-on catalytic converter monolith costs rose to 3.79 billion euros ($4.49 billion) in the third quarter, Faurecia said. Excluding the effects of acquisitions and exchange-rate fluctuations, revenue was up 10.7 percent.

Asian sales rose 19.3 percent on a reported basis to 701 million euros, helped in part by the consolidation of a Chinese joint venture with partner Changan. In North America, where Faurecia does about a quarter of its business, revenue fell 6.1 percent as auto production dropped 8.1 percent.

Faurecia reiterated full-year 2017 goals including cash flow above 350 million euros, 7 percent sales growth and an operating margin between 6.6 percent and 7 percent. ($1 = 0.8447 euros) (Reporting by Laurence Frost; editing by Michel Rose)

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