Forvia : Cloudy skies still lie ahead
>Robust release on FCF, less so on operations - Forvia’s results release confirms, if confirmation were needed, the supplier’s better management at the FCF level (even though helped by factoring) but also the more pronounced difficulties at the operating level, notably in Europe (especially given the support from capitalised R&D). This dichotomy is also visible in the outlook for 2024, albeit to a lesser extent given future restructuring outlays which will weigh more ...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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