Sogefi’s FY 2019 revenues down 3.3% y/y to USD1.7 billion
The Italian supplier expects its FY 2020 sales to remain substantially in line with 2019 and slightly better than the market
Sogefi has reported 3.3% year-over-year (y/y) decline in revenues to EUR1.52 billion (USD1.6 billion) in the financial year ended 31 December 2019, the Italy-based automotive supplier said in a press release on 24 February. The company’s revenue at constant exchange rates dropped by 2.2% y/y. At constant exchange rates, Sogefi’s revenue declined by 1.7% y/y in Europe, whereas it dropped by 6.3% in North America, and 8.2% in Asia. However, in South America, the company recorded 8.1% y/y increase in revenue.