Faurecia: posts net loss for 2020, but resumes dividends
(CercleFinance.com) - Faurecia has reported FY 2020 net loss (group share) of 379 million euros, against a profit of 590 million euros in 2019, with an operating margin of 2.
8% on sales that are down 17.5% to 14.65 billion euros (-19.6% in organic terms).
At its AGM, which is set to be held on 31 May, the Board of Directors will nevertheless propose to resume dividend payments, proposing a dividend of 1 euro per share, to be paid in cash in June.
For 2021, the automotive supplier targets an operating margin of around 7%, close to pre-Covid levels, for sales of at least 16.5 billion euros, with sales outperforming by over 600 basis points.
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8% on sales that are down 17.5% to 14.65 billion euros (-19.6% in organic terms).
At its AGM, which is set to be held on 31 May, the Board of Directors will nevertheless propose to resume dividend payments, proposing a dividend of 1 euro per share, to be paid in cash in June.
For 2021, the automotive supplier targets an operating margin of around 7%, close to pre-Covid levels, for sales of at least 16.5 billion euros, with sales outperforming by over 600 basis points.
Copyright (c) 2021 CercleFinance.com. All rights reserved.