Faurecia : A reassuring H1 release which could start to ease concerns
>FCF beat quality not strong but still positive overall with better H2 in sight - Overall, H1 figures were broadly in line as a weak release was largely expected for Faurecia/Forvia, even relative to peers (as POM’s release this morning tends to confirm) and FCF beat positive but mainly driven by one-off factoring effect. However, we think that the significant sequential improvement expected in H2 (as suggested by FY guidance reiteration) could improve the sentiment t...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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