Faurecia are forecasting a rise in annual sales, as they expect semiconductor shortages to ease starting in the second half of this year. The French car parts group now foresee full-year sales of €18bn, up from €15.6bn last year, and say they will release full-year guidance for the combined group with Hella, along with first-quarter sales figures, by the end of April. The combined group, called Forvia, is set to become the 7th-largest automotive supplier in the world.
CEO Patrick Koller says “Our most exciting challenge for 2022 will be the great opportunity to combine our operations and teams with Hella to create a powerful group, which is far more than the sum of the two preexisting companies”.
Faurecia, who supply seats, dashboards and fuel systems, also expect their operating margin to be between six and seven per cent this year, compared with last year’s 5.5 per cent—based on assuming worldwide automotive production will recover to 78.7 million vehicles in 2022.
