Faurecia : Q1 organic growth very strong at +12.2%, almost in line with LVP despite unfavourable geomix
>Q1 organic growth at +12.2% despite c. 900 bp unfavourable geomix - French supplier Faurecia released this morning very solid Q1 21 revenues (8.9% reported/+12.2% organic) which also came in ahead of expectations (+2%), driven by stronger organic growth and higher production estimates. Group sales reached € 4,005m thanks to organic growth of 12.2%, a 1.6% scope effect (SAS – 1 month) and despite a 5.0% forex headwind mainly due to the USD and BRL. This means that des...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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