Spread Research - FAURECIA (EOFP) FAURECIA - 3Q16 SALES

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Spread Research

FAURECIA - 3Q16 SALES

â€‹Faurecia, the French automotive equipment supplier, posted decent 3Q16 sales figures. While total yoy organic sales came up 1.6%, value added revenues were up 3.7% organically to â‚¬3,531m (excluding monoliths trading). Notwithstanding, the company underperformed the market in its three main geographies. In Europe (55% of sales), down -3% to â‚¬1,695m, the market saw a healthy 5% growth in registrations but production unexpectedly declined by 2% due to inventory reductions by automakers.

14/10/2016 2 EN

Underlying

FAURECIA

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France

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Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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FAURECIA: Strong 2H16 again, confident outlook

â€‹Faurecia, the French automotive equipment supplier, posted a sound set of 2H16 results. As opposed to Adient, Faurecia did not show any top line softness with value added sales up 3.5% like for like to â‚¬7,692m. Those were mainly driven by Asia with a 12.5% growth, above marketâ€™s 11.4%. China was naturally the main contributor as it saw sales surging by 9% notably fueled by the consumerâ€™s rush before the decrease of tax incentives. On the other hand, exposure to underperforming models was behind Europeâ€™s (-1%) and North Americaâ€™s (-0.1%) lag compared to the market.EBITDA rise of 8%...

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FAURECIA - 3Q16 SALES

FAURECIA: Strong 2H16 again, confident outlook

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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