The French group, whose other core automotive divisions are emissions control and exterior parts, says it wants to have Euro 20 000 million $27169 million) sales by 2015, an increase of 25 percent compared with the 2011 estimate.
Presenting presented these objectives during a 7 Nov Investor Day in Paris, Faurecia also confirmed that its profitability targets will be reached by 2014 with an operating margin of 5-6 percent, a return on capital employed (ROCE) pre-tax in excess of 25 percent, and a net debt / EBITDA ratio below 0.5.
To reach these targets, the Group said it will rely on:
- A portfolio of contracts under development representing product sales of about Euro 34 000 million over the lifetime of the contracts, i.e. more than 2.7 times the estimated product sales for 2011;
- Continued fast expansion in Asia, "mainly in China and Korea;"
- Solid growth prospects in North America thanks to a favorable customer mix and recognised expertise in premium products and global program management;
- Technology leadership in emissions control, weight reduction and vehicle interior enrichment;
- The same pattern of organic growth in its four key business groups.
Yann Delabriere, chairman and ceo of Faurecia, explained that strategic development would be based on:
- High operational performance resulting from its worldwide production footprint and a competitive cost structure;
- Continuous development of global programmes and international vehicle platforms;
- Technological capabilities/innovations developed by a worldwide engineering network, now being extended to China and India.