Faurecia : Reassuring Q3 release, focus now on the CMD and deleveraging
>Q3 sales 4% above expectations, FY revenue guidance raised - This morning, Faurecia released its Q3 2022 revenues which came in 4% above expectations at € 6,591m vs the consensus at € 6,332m (ODDO BHF € 6,295m), showing significant y-o-y organic growth at +31% on very favourable comps (Q3 2021 was the trough regarding disruption on chips), easing supply-chain issues and a rebound in China. For the outlook, as expected the group confirmed the elements of its FY guid...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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