PARIS, May 15 (Reuters) - French car parts group Faurecia outlined plans on Tuesday to increase its sales via growth in areas such as autonomous driving, and new high-tech vehicles.
Faurecia, 46-percent owned by Peugeot-maker PSA, said it was targeting sales growth of more than 7 percent per year to reach 20 billion euros ($23.8 billion) by 2020, compared with the company’s 2017 turnover of 16.96 billion euros.
The company’s 2020 financial targets also include an operating margin of 8 percent of sales, and net cash flow of 4 percent of sales. Faurecia aims to achieve a 30 billion euro overall sales figure by 2025.
“Faurecia’s strategy is perfectly aligned with the four automotive megatrends: connectivity, autonomous driving, ride-sharing and electrification,” Chief Executive Patrick Koller said in a statement.
$1 = 0.8391 euros Reporting by Sudip Kar-Gupta and Gilles Guillaume; Editing by Subhranshu Sahu