Nanterre, France – Faurecia, an automotive seating and interiors company generated EUR7.78bn in sales in the first half of 2021 up 27.9% on the same period last year.
Operating income across the business increased from a loss of EUR100m to EUR510m in positive territory in the first half of 2021.
Koller: raw material price inflation
'We delivered strong performance in H1 despite the shortage of semiconductors and raw material inflation. We are convinced automotive production hit a low in Q2 and should gradually rebound in the coming quarters,' said CEO Patrick Koller. He said the company had reduced debt and that the business had 'solid order intake' in the first half of the year.
In the company's seating business, sales rose by 30.7% between the first half of 2020 and the first half of 2021, reaching EUR29.6bn.
Operating income in the division rose from a loss of EUR23m to a profit of EUR 196m in the first half of 2021.
Looking ahead to the rest of the financial year, Faurecia said sales would be at least EUR16.5bn, and that the operating margin should be around 7%. This is close to 20219 and pre-coronavirus levels.
