Faurecia : A tough quarter as expected, FY outlook fully confirmed
>Q3 in line & no change in outlook, more colour expected during CFO call - Faurecia this morning published Q3 2021 sales at € 3,426m (-11.4% org. vs Q3 2020), slightly below expectations (-2%) due to even lower LVP during the quarter (-19.2% vs -17.5%e) and despite very strong and likely better outperformance (780 bps). A month after it cut its FY 2021 targets due to the much less favourable production momentum (see IHS now expecting 0.5% LVP growth this year vs 9% l...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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