July 10, 2019 / 3:02 PM / 10 days ago

Faurecia to stick by 2019 goals despite China slide - CEO

PARIS, July 10 (Reuters) - French auto parts maker Faurecia is weathering the global auto market downturn and will reiterate its 2019 guidance later this month, Chief Executive Patrick Koller said.

Faurecia, 46.3% owned by Peugeot maker PSA Group, has pledged to increase operating profit this year while delivering an operating margin of at least 7% and growing sales by 1.5-3.5 percentage points above global auto production.

“We’ve confirmed our guidance and will continue to do so for this year,” Koller said in an interview published on Wednesday by Mobility TV, a French industry news site.

China nevertheless remains a particular concern, Koller said. “In the medium term China’s potential remains solid, but what concerns me is not knowing when this crisis will end.” (Reporting by Gilles Guillaume Writing by Laurence Frost, Editing by Sarah White)

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