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Faurecia: FY earnings up by a third

(CercleFinance.com) - Faurecia has published a 34.
2% increase in FY 2017 net income from continuing operations, at 714.5 million euros, with operating income up 20.6% at 1.17 billion euros, or 6.9% of sales (+70 basis points).

The automotive component supplier posted organic sales growth of 10.6%, 830 basis points above the growth rate of global automotive production (+2.3% according to IHS Automotive), at 17 billion euros.

Faurecia's board of directors will propose a dividend of 1.10 euro per share, up 22%. For 2018, Faurecia aims for EPS of 5 euros, an operating margin that exceeds 7% and sales growth of at least 7% at constant exchange rates.

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