May 15, 2018 / 5:12 AM / 7 days ago

Car parts group Faurecia targets steady rise in sales from 2020

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

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