(Finance) – Forviathe European auto parts manufacturer born from the acquisition by Faurecia of the German rival Hellahas registered sales up by 92.4% to 6.59 billion euros in third quarter 2022including a quarterly consolidation effect of 1.84 billion, or 53.6% of last year’s sales, related to the consolidation of Hella.
The group has increased guidance and now foresees sales for the whole year between € 24.5 billion and € 25.5 billion, based on estimates that world car production will return to around 77 million light vehicles in 2022. Previously, it had forecast annual sales of € 23 billion to € 24 billion. . The operating margin is confirmed between 4% and 5% of sales, while the net cash flow is in balance.
“In a macroeconomic environment that remains difficult, we are focused on three main objectives – commented Patrick KOLLER, CEO of Faurecia – Finalize the refinancing of the acquisition of HELLA and deleverage of the group, protect our margin operating in the short term and our cash generation in a highly inflationary environment, continue to create a strong and selective order book, thanks to the unique combination of technologies and innovations from Faurecia and HELLA. “
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