0MGR.L - Faurecia S.E.

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  • Globe Newswire

    Faurecia shareholders' meeting: renewal of mandates of three Board members and the Chairman of the Board of Directors

    Nanterre (France), 26 June 2020FAURECIA SHAREHOLDERS’ MEETING RENEWAL OF MANDATES OF THREE BOARD MEMBERS AND THE CHAIRMAN OF THE BOARD OF DIRECTORSAt the Faurecia Shareholders’ Meeting, which was held today behind closed doors and chaired by Michel de Rosen, all the proposed resolutions were adopted.In particular, the Shareholders’ Meeting approved the renewal of the Board membership of Odile Desforges, Linda Hasenfratz, Olivia Larmaraud and Michel de Rosen for a further period of four years. The renewal of Michel de Rosen's term as Chairman of the Board of Directors therefore took effect at the end of the Meeting, as decided by the Board.During this Shareholders’ Meeting, Chief Executive Officer Patrick Koller reviewed Faurecia's transformation strategy and the results achieved in 2019. He also presented to shareholders the Group’s three priorities for weathering the Covid-19 crisis: the safe restart of operations; protecting liquidity and maintaining a healthy financial structure; increasing the Group's resilience and lowering the break-even point of its operations. This will enable the Group to address the current crisis and benefit from the expected recovery from 2021.               Patrick Koller finally explained the expected evolution of the Group’s turnover during the first part of the year, particularly affected by Covid-19. After a first quarter fall of 19.7%1, the second quarter will suffer the most this year, with an expected decline of around 50%1 with a low point in April, a month severely affected by the lockdowns in Europe and North America, at a time when China was only just beginning its recovery. Sales for the full six-month period could fall by around 35%1 (compared with turnover of €8,972 million in the first half of 2019). Faurecia will present its outlook for the second half of the year with publication of the first-half results on Monday 27 July.Michel de Rosen, Chairman of the Board of Directors of Faurecia, says: “I would like to warmly thank the shareholders for the renewed confidence they have shown today in the Group's management. Thanks to its solid fundamentals and the strong resilience measures adopted, Faurecia intends to pursue its transformation strategy and come through this unprecedented crisis with determination and agility.”The presentation given at the Shareholders’ Meeting, as well as the results of the votes on resolutions, are available on the Faurecia website: www.faurecia.comUpcoming events: * 27 July 2020: announcement of HY1 2020 results (before market opening) * 23 October 2020: announcement of Q3 2020 sales (before market opening) Contacts Press Eric FOHLEN-WEILL Corporate Communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com       Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com   Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With almost 300 sites including 30 R&D centres and 115,500 employees in 37 countries, Faurecia is a global leader in its four areas of business: seating, interiors, Clarion Electronics and clean mobility. Faurecia has focused its technology strategy on providing solutions for the cockpit of the future and sustainable mobility. In 2019, the Group achieved total turnover of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit: www.faurecia.com* * * 1 At constant exchange rates and scope Attachment * Faurecia AG_EN

  • Can Faurecia Se withstand the coronavirus chaos?
    Stockopedia

    Can Faurecia Se withstand the coronavirus chaos?

    Shares in Faurecia Se (EPA:EO) are currently trading at 35.54 but a key question for investors is how the economic uncertainty caused by Covid-19 will affect t...

  • Globe Newswire

    Combined General Meeting of June 26, 2020 - Availability of preparatory documents

    Nanterre (France), June 5, 2020Combined General Meeting of June 26, 2020 Availability of preparatory documentsIn the context of the Covid-19 sanitary crisis, the Combined General Meeting will be held behind closed doors on June 26, 2020 at 10 a.m. at the registered office in Nanterre, without shareholders being physically present and other persons entitled to attend it. It will be broadcast live on the Group’s website (www.faurecia.com).The meeting notice was published in the Bulletin des annonces légales obligatoires (BALO) on May 22, 2020 and the convening notice was published in the BALO and in the gazette les Petites Affiches on June 5, 2020. The main modalities for participating in the General Meeting are detailed in these notices as well as in the convening brochure to the General Meeting. The aforementioned documents as well as any other document and information required by applicable laws and regulations can be found on the Group’s website and/or available pursuant to the modalities provided under applicable legal and regulatory provisions.Shareholders are invited to regularly view the section dedicated to the 2020 General Meeting, available on the Group’s website, containing all useful information concerning this meeting.Contacts Presse Eric FOHLEN-WEILL Corporate communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com       Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com  Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 248 industrial sites, 37 R&D centers and 115,500 employees in 37 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2019, the Group posted sales of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.comAttachment * Faurecia - PR availability of documents AGM

  • Globe Newswire

    Convening of the General Meeting

    Nanterre (France), May 15, 2020Convening of the General MeetingOn May 14, 2020, Faurecia’s Board of Directors held a meeting and convened its Annual General Meeting to approve the 2019 financial statements.The Annual General Meeting will be held on June 26, 2020 at the Company’s registered office in Nanterre at 10 a.m. In the context of the Covid-19 sanitary crisis, the Board of Directors decided, in accordance with order n°2020-321 dated 25 March 2020, that this General Meeting will take place behind closed doors, i.e. without shareholders being physically present.DividendExceptionally, because of the global crisis due to the Covid-19 pandemic, the Board of Directors proposes the shareholders not to pay a dividend for 2019. Due to the current lack of visibility, the Board of Directors decided to prioritize the Group’s corporate responsibility and liquidity over pay-out. The Board of Directors is convinced that this measure protects the interests of all Faurecia’s stakeholders. It strengthens the Group’s financial flexibility to overcome the current crisis and return as soon as possible to sustainable profitable growth and dividend payment.GovernanceShareholders will be asked to approve the renewal of the corporate office as Board member of Odile Desforges, Linda Hasenfratz, Olivia Larmaraud and Michel de Rosen. As indicated in the 2019 Universal Registration Document, the Board of Directors decided to renew the corporate office of Michel de Rosen as Chairman of the Board of Directors, for the same term as his corporate office as Board member, subject to the renewal of his corporate office as Board member by the Annual General Meeting of June 26, 2020 and to the approval, by the same General Meeting, of the extension of the age limit defined in the bylaws for holding the office of Chairman of the Board of Directors.The full agenda, draft resolutions as well as the main modalities for participating in and voting at the Annual General Meeting will be set out in the meeting notice to be published in the Bulletin des Annonces Légales Obligatoires and on the Group’s website (www.faurecia.com) on May 22, 2020.As the Annual General Meeting will be held behind closed doors (i.e. without the physical presence of shareholders and other persons entitled to participate), Faurecia draws the shareholders’ attention on the following topics: * the Annual General Meeting will be streamed (live and deferred broadcast) on the Group’s website. Pursuant to applicable laws, shareholders are entitled to send written questions to the Company as of the publication of the meetings documents provided under Article R. 225-73-1 of the French Code of Commerce until the fourth trading day prior to the General Meeting;   * Shareholders are invited to exercise their voting rights before the holding of the Annual General Meeting, either by internet via the secured VOTACCESS platform, or by returning their postal voting form, or also by giving proxy.Shareholders are invited to regularly view the section dedicated to the 2020 Annual General Meeting including updated information on holding, organization, participation and voting to such meeting, on the Group’s website at www.faurecia.com.Contacts Presse Eric FOHLEN-WEILL Corporate communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com           Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com   Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 248 industrial sites, 37 R&D centers and 115,500 employees in 37 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2019, the Group posted sales of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com Attachment * Faurecia - PR AGM

  • Globe Newswire

    Availability of Universal Registration Document

    Nanterre (France), April 30, 2020Availability of Universal Registration DocumentThe 2019 Universal Registration Document of Faurecia S.E. was filed with the French Financial Markets Authority (Autorité des marchés financiers) on April 30, 2020. The 2019 Universal Registration Document notably includes: * the Annual Financial Report; * the Board of Directors’ report on the corporate governance; * the management report including non-financial performance declaration; * the description of the share buyback program; * the reports from the statutory auditors.The 2019 Universal Registration Document also includes information relating to Covid-19, notably in risk factors and outlook sections. The 2019 Universal Registration Document is available to the public in accordance with applicable regulations and can be consulted and downloaded on the Company’s website (www.faurecia.com/en/investors/documents/amf-regulated-information) as well as on the French Financial Markets Authority’s website (www.amf-france.org).Contacts Presse Eric FOHLEN-WEILL Corporate communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com       Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com  Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 248 industrial sites, 37 R&D centers and 115,500 employees in 37 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2019, the Group posted sales of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.comAttachment * URD 2019 - PR publication

  • Globe Newswire

    Q1 sales impacted by COVID-19 disruption but outperforming market by 390bps

    Nanterre (France), April 20, 2020FIRST QUARTER 2020 SALESQ1 SALES IMPACTED BY COVID-19 DISRUPTION BUT OUTPERFORMING MARKET BY 390bps FOCUS ON EMPLOYEE HEALTH, LIQUIDITY & RESILIENCE AND SAFE RESTART in €m  Q1 2019  Q1 2020  ReportedAt constant scope & curr. Sales4,3253,739-13.5%-19.7% By region * Europe * North America * Asia * South America * Rest of the World  2,217 1,117 798 150 43  1,931 1,014 635 127 32  -12.9% -9.2% -20.4% -15.2% -26.2%  -16.4% -18.3% -33.9% -2.1% -21.5% Q1 SALES IMPACTED BY COVID-19 DISRUPTION BUT OUTPERFORMING MARKET BY 390bps * Reported sales down 13.5% including a positive scope effect of €268m (+6.2%) due to the consolidation of 3 months of Clarion and 2 months of SAS * Sales at constant scope and currencies down 19.7% vs. worldwide automotive production down 23.6% (source: IHS Markit dated April 2020) => outperformance of 390bpsSTRONG MEASURES TAKEN TO FACE THE CRISIS WITH THREE PRIORITIES * Priority No.1: Protect health and safety of all employees * Priority No.2: Secure liquidity, recently enhanced through an €800m club deal loan * Priority No.3: Be ready for a safe restart of production through the “SAFER TOGETHER” programSHAREHOLDER’S MEETING POSTPONED TO JUNE 26 DUE TO COVID-19 Patrick KOLLER, CEO of Faurecia, declared: “Our sales in the first quarter were strongly impacted by the global Covid-19 pandemic. This crisis impacted China throughout the quarter, with a peak in February, and then the rest of the world from March. While China has effectively and safely restarted, we expect the second quarter to be tougher in Europe and North America. The second half of the year should show sequential improvement. To face this unprecedented crisis, we have immediately put in place all the necessary action plans to get through this period. Our top priority is the protection of our employees and preparing for a safe restart of our activity. At the same time, we have secured additional liquidity and implemented measures to aggressively cut costs and protect cash. I am confident in our ability to get through this period, which I believe will lead to a new economic paradigm based on resilience and stronger collaboration and support across the whole supply chain. All Faurecia teams are acting in the most effective and responsible way to protect the company in the best interests of all stakeholders and I thank all of them for their efforts.” The Board of Directors, under the chairmanship of Michel de ROSEN, met on April 17, 2020 and reviewed the present press release. Q1 SALES OF €3,739m, STRONGLY IMPACTED BY COVID-19 BUT OUTPERFORMING MARKET In Q1 2020, sales amounted to €3,739.3 million (vs. €4,324.6 million in Q1 2019), down 13.5% on a reported basis * Currencies had a limited negative impact of €2.5 million, representing -0.1% of last year’s sales * Positive scope effect of €268.0 million, representing +6.2% of last year’s sales (€100.6 million from 2 months of consolidation of SAS and €167.4 million from 3 months of consolidation of Clarion) * At constant scope and currencies, sales were down 19.7%, representing an outperformance of 390bps compared to worldwide automotive production that dropped year-on-year by 23.6% (source: IHS Markit dated April 2020)                           SALES BY REGION Europe (52% of Group sales): Sales of €1,930.7 million (vs. €2,216.5 million in Q1 2019) * Down 12.9% on a reported basis, including: * A positive scope effect of €80.1 million (+3.6% of last year’s sales) * A limited negative currency effect of €2.7 million (-0.1% of last year’s sales) * Down 16.4% at constant scope and currencies, 410bps above regional automotive production (-20.5%, source: IHS Markit dated April 2020)             In Europe, the Covid-19 crisis started to impact Faurecia’s activities in March, with sales down by close to 40% vs. March 2019, following customers’ plant shutdowns.North America (27% of Group sales): Sales of €1,014.0 million (vs. €1,116.7 million in Q1 2019) * Down 9.2% on a reported basis, including: * A positive scope effect of €74.2 million (+6.6% of last year’s sales) * A positive currency effect of €27.5 million (+2.5% of last year’s sales) mainly due to the US dollar vs. the euro * Down 18.3% at constant scope and currencies, 750bps below regional automotive production (-10.8%, source: IHS Markit dated April 2020); this underperformance is mainly due to volumes with Nissan and Ford as well as the effect of the Daimler EoP for Seating (c. €35m).             In North America, the Covid-19 crisis also started to impact Faurecia’s activities as from March, with sales down by close to 35% vs. March 2019.Asia (17% of Group sales): Sales of €635.1 million (vs. €797.8 million in Q1 2019) * Down 20.4% on a reported basis, including: * A positive scope effect of €110.6 million (+13.9% of last year’s sales) * A limited negative currency effect of €2.6 million (-0.3% of last year’s sales) * Down 33.9% at constant scope and currencies, 300bps below regional automotive production (-30.9%, source: IHS Markit dated April 2020); this underperformance at the regional level is impacted by an unfavorable geographic mix with Faurecia’s sales in China in Q1 2020 representing 56% of its sales in the region vs. only one third of automotive production.             In China, sales amounted to €357.3 million (vs. €603.7 million in Q1 2019), down 40.8% on a reported basis and down 42.1% at constant scope and currencies, 800bps above the Chinese automotive production (-50.1%, source: IHS Markit dated April 2020). China was the first country in the world to face the crisis and close plants. Sales in the entire quarter were strongly impacted year-on-year with a peak impact in February and gradual recovery as from March. As of today, all plants have restarted production (including in the province of Hubei), with a loading rate of around 90% to rapidly reach 100%. This successful restart of activity in China, with no employee contaminated since the beginning of the crisis, will serve as an example for safe restart in other regions.South America (3% of Group sales): Sales of €127.5 million (vs. €150.2 million in Q1 2019) * Down 15.2% on a reported basis, including: * A limited positive scope effect of €3.0 million (+2.0% of last year’s sales) * A significant negative currency effect of €22.7 million (-15.1% of last year’s sales) * Down 2.1% at constant scope and currencies, well above regional automotive production (-16.9%, source: IHS Markit dated April 2020)             South America was the latest region to be impacted by the crisis, only in late March. Sales in March were down by close to 20% vs. March 2019. SALES BY BUSINESS GROUP Seating (38% of Group sales): Sales of €1,401.9 million (vs. €1,841.5 million in Q1 2019) * Down 23.9% on a reported basis, including: * A slight negative currency effect of €0.3 million * Down 23.9% at constant scope and currencies, broadly in line with worldwide automotive production (-23.6%, source: IHS Markit dated April 2020)Interiors (31% of Group sales): Sales of €1,164.9 million (vs. €1,293.0 million in Q1 2019) * Down 9.9% on a reported basis, including: * A positive scope effect of €100.6 million, representing +7.8% of last year’s sales (consolidation of SAS since February 1, 2020) * A slight negative currency effect of €2.7 million (-0.2% of last year’s sales) * Down 17.5% at constant scope and currencies, 610bps above worldwide automotive production (-23.6%, source: IHS Markit dated April 2020)Clean Mobility (26% of Group sales): Sales of €975.5 million (vs. €1,143.5 million in Q1 2019) * Down 14.7% on a reported basis, including: * A slight positive currency effect of €0.5 million * Down 14.7% at constant scope and currencies, 890bps above worldwide automotive production (-23.6%, source: IHS Markit dated April 2020)             Faurecia Clarion Electronics (5% of Group sales): Sales of €196.9 million (vs. €46.6 million in Q1 2019)       ·Most of the change in sales was due to the scope effect from the consolidation of 3 months of Clarion for €167.4 million (Clarion has been consolidated since April 1, 2019) UPDATE ON MEASURES TAKEN TO FACE THE CRISIS AND PREPARE FOR RESTART No.1 PRIORITY: PROTECT HEALTH AND SAFETY OF ALL EMPLOYEESSince the very beginning of the crisis, Faurecia teams have deployed a strict crisis management process, whose number one priority is the protection of employees. Best health practices recommendations have been widely spread all over the Group, a travel ban has been introduced, home office has been applied when possible and IT capabilities have been strengthened to ensure increased needs for connectivity. A daily follow-up of the crisis has been set up to better evaluate the pandemic’s evolution, the production situation and the restart dates per customer, as well as the conditions for a safe restart of production.No.2 PRIORITY: SECURE LIQUIDITY, RECENTLY ENHANCED THROUGH AN €800M CLUB DEAL LOANFaurecia has reacted quickly to the unprecedented situation to protect margin and cash, secure liquidity to overcome the crisis and maintain a sound financial structure.Faurecia has taken all the necessary measures to drastically reduce, in the short term, its operating and administrative costs, development expenses and investments, including temporary unemployment according to the reduction of the activity faced by the sites. As of today, c. 90% of operators are under temporary unemployment in Europe and North America, drastic cuts were made to SG&A, hiring has been frozen since the beginning of the year and all efforts are deployed to ensure the highest cost flexibility and demonstrate resilience throughout the crisis.To further protect cash generation, Faurecia targets to reduce capex by 30% (vs. €685 million spent in 2019) and will carefully manage R&D programs. Working capital will be tightly managed mostly through inventory adjustment, while securing the supply chain, and strict monitoring of receivables cash collection.As of March 31, Faurecia’s cash position amounted to c. €2.2 billion, including the €600 million recently drawn down from the syndicated credit line out of an initial amount of €1.2 billion (maturity June 2024), in order to anticipate a drop of factoring of receivables.In addition, Faurecia has €1.4 billion of available liquidity through the recently signed short-term loan and the remaining 50% undrawn part of the syndicated credit line: * €800 million from a club deal loan signed on April 10, with an 18 months maturity and 100% drawn on April 17, * €600 million from the undrawn syndicated credit line.This liquidity will allow Faurecia to overcome the cash consumption during the first half of the year, while the second half should resume cash generation.As regards its financial structure, Faurecia has a sound balance-sheet with no significant short-term repayment before 2022 and an average debt maturity profile above 5 years (excluding the club deal loan). The average cost of its long-term debt is below 2.5% and its covenant limit of 2.8x consolidated net debt vs. last 12 months EBITDA (including IFRS16 impact) offers significant headroom, even during the current crisis.No.3 PRIORITY: BE READY FOR A SAFE RESTART OF PRODUCTION THROUGH THE “SAFER TOGETHER” PROGRAMBased on recommendations from expert organizations, and governments and Faurecia’s experience in China, a “SAFER TOGETHER” program has been put in place that includes a comprehensive set of procedures and behaviors to be strictly followed at all plants and facilities.Three main categories have been defined: mandatory personal protective equipment, required personal protection practices and considerations regarding daily life. Full training and communications are organized and the procurement or in-house production of all necessary personal protective equipment, including masks, gloves, glasses and gel, is secured.Suppliers’ readiness and supply chain continuity are essential for a safe restart. Faurecia strongly encourages close collaboration with suppliers and openly shares all its internal practices, guidelines and procedures for their own use. They include the essentials of the SAFER TOGETHER program, regular updates of forecasted plant restart dates and supply chain restart check lists. Over 1,000 suppliers participated to webconferences held on April 9 to share the Group’s priorities and underline this collaborative approach. This crisis highlights the necessity for the whole supply chain to work together, now and in the future, with transparency and mutual support. DECISION TO REDUCE SALARY FOR THE CHAIRMAN, THE CEO AND THE EXECUTIVE COMMITTEE In the light of the crisis, and as a personal contribution to the many gestures of solidarity of the Group’s employees, Michel de ROSEN, Chairman of the Board of Directors, and Patrick KOLLER, Chief Executive Officer, have decided to reduce their salary by 20% for at least the second quarter of 2020. In the same spirit of solidarity, the Executive Committee has unanimously joined this initiative. DECISION TO POSTPONE THE ANNUAL SHAREHOLDERS’ MEETING TO JUNE 26 At its meeting held by conference call on April 17, Faurecia’s Board of Directors decided, given the lack of visibility due to the Covid-19 pandemic, to postpone the Annual Shareholders’ Meeting, initially planned for Wednesday, May 29, to Friday, June 26. All details will be communicated in due course to shareholders. OUTLOOK As of today, it remains difficult to estimate production levels in coming months as they depend on many external parameters, such as government regulations and the pace of resolution of the pandemic in the various geographies, but also on customers’ effective restart of production as well as consumer demand. In this context, Faurecia considers it is not currently in position to present new financial objectives for 2020 and will do so when the situation is stabilized and offers more visibility to the Group. A conference call for financial analysts and media will be held today at 8:00 am (Paris time). Dial-in numbers: * France:                               +33 (0)1 70 73 27 27 * UK:                          +44 (0)203 009 5710 * USA:                     +1 917-720-0178No access code needed and a replay will be available as soon as possible.The financial presentation accompanying the conference call will be available at 7:30 am today (Paris time) on the Faurecia website: www.faurecia.com and may also be viewed at the following link: https://edge.media-server.com/mmc/p/de9k6bjcCalendarJune 26, 2020:                                   Annual Shareholders’ Meeting (Nanterre)July 27, 2020:                                     H1 2020 results announcement (before market hours)October 23, 2020:                            Q3 2020 sales announcement (before market hours)Contacts Presse Eric FOHLEN-WEILL Corporate communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com       Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com  Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 248 industrial sites, 37 R&D centers and 115,000 employees in 37 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2019, the Group posted sales of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com APPENDICES Definitions of terms used in this documentSales growthFaurecia’s year-on-year sales evolution is made of three components: * A “Currency effect”, calculated by applying average currency rates for the period to the sales of the prior year, * A “Scope effect” (acquisition/divestment), * And “Growth at constant currencies”.As scope effect, Faurecia presents all acquisitions/divestments, whose sales on an annual basis amount to more than €250 million.Other acquisitions below this threshold are considered as “bolt-on acquisitions” and are included in “Growth at constant currencies”.Q1 2020 Sales by regionSalesReportedCurrency effectGrowth ex-currenciesScope effect*Reported (in €m)Q1 2019value%value%value%Q1 2020% Europe2,217-3-0.1%-363-16.4%803.6%1,931-12.9% North America1,117282.5%-204-18.3%746.6%1,014-9.2% Asia798-3-0.3%-271-33.9%11113.9%635-20.4% of which China604-1-0.2%-254-42.1%91.5%357-40.8% South America150-23-15.1%-3-2.1%32.0%127-15.2% RoW43-2-4.7%-9-21.5%  32-26.2% Group4,325-3-0.1%-851-19.7%2686.2%3,739-13.5% * Scope effect included 3 months of Clarion (consolidated as from April 1st, 2019) and 2 months of SAS (consolidated as from February 1st, 2020)Q1 2020 Sales by Business Group  SalesReportedCurrency effectGrowth ex-currenciesScope effect*Reported (in €m)Q1 2019value%value%value%Q1 2020% Seating1,84200.0%-439-23.9%  1,402-23.9% Interiors1,293-3-0.2%-226-17.5%1017.8%1,165-9.9% Clean Mobility1,14400.0%-168-14.7%  976-14.7% Faurecia Clarion Electronics470-0.1%-17-36.6%167359.2%197322.5% Group4,325-3-0.1%-851-19.7%2686.2%3,739-13.5% * Scope effect included 3 months of Clarion (consolidated as from April 1st, 2019) and 2 months of SAS (consolidated as from February 1st, 2020) Attachment * PR - FAURECIA Q1 2020 SALES

  • Globe Newswire

    Faurecia strengthens its liquidity by 800 millions euros to face any potential scenario related to the COVID-19 crisis

    Nanterre (France), April 14, 2020FAURECIA STRENGTHENS ITS LIQUIDITY BY 800 MILLION EUROS TO FACE ANY POTENTIAL SCENARIO RELATED TO THE COVID-19 CRISISFaurecia announced that it signed on Friday, April 10, 2020 a Club Deal of €800 million with four of its main banks (BNP Paribas, CA-CIB, Société Générale and Natixis) with the following conditions: * Maturity: 18 months (12 months + 6 months option at Faurecia’s initiative) * Senior unsecured loan, unguaranteed, pari passu with the rest of the Group’s long-term debt * Drawn on Friday, April 17, 2020This €800 million liquidity is in addition to the €600 million not drawn from the €1.2 billion syndicated credit line (maturity: June 2024) of which half was recently drawn, in anticipation of the expected decline in factoring of receivables. With €1.4 billion of available liquidity, in addition to its current cash position, Faurecia estimates to be able to cope with any scenario related to the Covid-19 crisis.Michel FAVRE, Group Chief Financial Officer of Faurecia, declared: “Since the beginning of the crisis, we have taken all necessary measures to strengthen our liquidity and be able to pass the peaks of cash requirements that we will have to face, including in the most demanding scenarii. The signing of this Club Deal is part of our financial strategy in the face of the crisis and demonstrates the confidence of our banks in the quality of our signature and our ability to weather this global crisis.”Contacts Presse Eric FOHLEN-WEILL Corporate communications Director Tel: +33 (0)1 72 36 72 58 eric.fohlen-weill@faurecia.com       Analysts/Investors Marc MAILLET Head of Investor Relations Tel: +33 (0)1 72 36 75 70 marc.maillet@faurecia.com    Anne-Sophie JUGEAN Deputy Head of Investor Relations Tel: +33 (0)1 72 36 71 31 annesophie.jugean@faurecia.com About Faurecia Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 248 industrial sites, 37 R&D centers and 115,000 employees in 37 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2019, the Group posted sales of €17.8 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com Attachment * PR - FAURECIA STRENGTHENS ITS LIQUIDITY BY €800M

  • Reuters - UK Focus

    European hedge funds struggle as short-selling bans disrupt strategies

    European hedge funds struggled to navigate the coronavirus-induced extreme market volatility during March, with many down by double-digits in the space of a few weeks as short-selling bans hampered their strategies. Regulators in France, Italy, Belgium and Spain ordered temporary short-selling bans to stop investors betting on a fall in the share price of companies ranging from Spanish bank Santander to Air France-KLM and Italian automaker Fiat Chrysler. Short-selling is a strategy often used by so-called 'event-driven' or 'merger-arbitrage' hedge funds that bet on takeover or merger deals, reducing their risk by shorting, or selling, the acquirer and buying the target company.

  • Reuters - UK Focus

    European shares retreat after biggest three-day surge ever

    European shares tumbled in early trading on Friday after a stunning three-day rally sparked by hopes of more aggressive stimulus to shore up the global economy ravaged by the rapid spread of the coronavirus pandemic. The pan-European STOXX 600 index was down 1.8% at 0808 GMT, but still on course for one of its best weeks since the global financial crisis. The benchmark index has recovered almost 17% since hitting a low on March 16, but remains more than 26% below its all-time high last month in a rout that has erased more than $3 trillion from the value of European firms.

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