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Faurecia stands by 2017 goals after quarterly sales gain
April 11, 2017 / 3:47 PM / 8 months ago

Faurecia stands by 2017 goals after quarterly sales gain

PARIS, April 11 (Reuters) - French auto parts maker Faurecia reiterated its full-year earnings goals on Tuesday after quarterly sales rose 10 percent, predicting that growth would continue through the next three months.

The maker of car seats, exhaust systems and interiors said revenue rose to 4.23 billion euros ($4.49 billion) in January-March from 3.84 billion a year earlier.

Despite some analysts’ concerns about the possibility of an auto market slump in North America - where Faurecia does 28 percent of its business - the company reiterated its 2017 goals, including a 6 percent sales increase and an operating margin between 6.4 percent and 6.8 percent.

“We expect the positive momentum to continue at least in the second quarter,” Chief Executive Patrick Koller said in the company statement.

First-quarter sales grew by 3.5 percent in Europe, Faurecia’s biggest region, by 11.3 percent in North America and 17.3 percent in Asia. Seating led the sales growth by division, with a 13.5 percent gain. ($1 = 0.9414 euros) (Reporting by Laurence Frost; Editing by GV De Clercq)

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