Faurecia 2019 net income drops 15.8% y/y to USD660 million
Company reports cumulative three-year rolling order intake of EUR68 billion
Faurecia’s net income declined 15.8% year-over-year (y/y) to EUR590 million (USD660 million) in the financial year ended 31 March 2019, the company said in a press release on 16 February. Sales increased marginally, by 1.4% y/y to EUR17.7 billion. However, sales decreased by 3% at constant currencies and excluding the scope effect from acquisition of Clarion. The decline in organic sale was less than 5.8% y/y drop in the global vehicle production, according to IHS Markit data.