Faurecia: makes operating loss in H1 2020
(CercleFinance.com) - Faurecia has published a H1 2020 operating loss of -114 million euros, compared with an operating profit of 645 million a year ago, a drop that reflects the impact of the fall in volumes relating to the Covid-19 crisis, although this was partially offset by savings.
The automotive supplier's sales fell by 31.2% to 6,170 million euros as reported. LFL sales fell by 35.4%, underperforming, by one point, a 34.4% drop in global automobile production.
Faurecia expects an operating margin of around 4.5% in H2 2020, as well as sales of around 7.6 billion euros (assuming that global automotive production will decline by around 15% over the period).
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The automotive supplier's sales fell by 31.2% to 6,170 million euros as reported. LFL sales fell by 35.4%, underperforming, by one point, a 34.4% drop in global automobile production.
Faurecia expects an operating margin of around 4.5% in H2 2020, as well as sales of around 7.6 billion euros (assuming that global automotive production will decline by around 15% over the period).
Copyright (c) 2020 CercleFinance.com. All rights reserved.