PARIS, Feb 22 (Reuters) - French car parts maker Faurecia said on Monday it targeted sales close to 25 billion euros ($30.29 billion) and an operating margin above 8% of sales by 2025.
“Overall, the group will strongly outperform the market over the next five years, and is particularly well-positioned in the fast-growing premium, electric and commercial vehicle segments as well as in China,” Chief Executive Patrick Koller said in a statement issued on Faurecia’s Capital Market Day.
This would compare with sales of 14.65 billion euros and a margin of 2.8% of sales in 2020 as Faurecia, like the whole car industry, was hit by the COVID-19 crisis.
Faurecia targets sales of at least 16.5 billion euros for 2021 and of at least 18.5 billion euros for 2022. It also expects its operating margin to return close to pre-COVID levels of 7% of sales in 2021, rising to 8% in 2022. The decision of carmaker Stellantis to distribute its participation in Faurecia to its shareholders will increase Faurecia’s free float, improve its capital market profile and allow Faurecia to affirm its business strategy as an independent company, the group said.
$1 = 0.8252 euros $1 = 0.8255 euros Reporting by Dominique Vidalon, editing by Louise Heavens