April 26 (Reuters) – Forvia:
* SALES OF €5.3 BILLION IN Q1 2022, UP 33% IN REPORTED DATA (INCLUDING THE FIRST TWO MONTHS OF HELLA CONSOLIDATION)
* 2022 OUTLOOK: SALES BETWEEN 23 AND 24 BILLION EUROS (OF WHICH AROUND 1.5 BILLION EUROS RELATED TO THE COMBINED EFFECT OF CURRENCIES AND RAW MATERIALS)
* 2022 OUTLOOK: OPERATING MARGIN BETWEEN 4% AND 5%
* 2022 OUTLOOK: NET CASH-FLOW AT BALANCE
* FAURECIA HAS RENEGOTIATED THE CLAUSE RELATING TO ITS BANKING COMMITMENTS TO BANKS: THE LEVEL OF THIS CLAUSE WILL NOT BE TESTED ON JUNE 30, 22 AND WILL BE 3.75X ON DECEMBER 31, 22 (INSTEAD OF 3.0X) BEFORE RETURNING TO 3.0X FROM 30 JUN 23
* THE BOARD OF DIRECTORS HAS DECIDED TO PROPOSE TO EXCEPTIONALLY SUSPEND THE PAYMENT OF DIVIDENDS IN 2022
* FAURECIA HAS DECIDED TO INCREASE ITS ASSET DISPOSAL PROGRAM FROM A TARGET OF 500 MILLION EUROS TO BE CLOSED BY THE END OF 2023 TO A TARGET OF 1 BILLION EUROS TO BE CLOSED D BY THE END OF 2023
* EVEN IF THE WAR IN UKRAINE SHOULD MAINLY AFFECT ACTIVITY IN EUROPE, WE MUST ADAPT TO THIS NEW DISRUPTION, WHOSE DURATION AND EXTENT, TO DATE, REMAIN UNCERTAIN – CEO OF FAURECIA
* IN ORGANIC DATA (FAURECIA AT ITS SCOPE AT THE END OF 2021 AND EXCLUDING FOREX EFFECTS), Q1 SALES INCREASED BY 1.1%
For more details, click on EPED.PA
(Gdansk Newsroom)