Faurecia’s reported revenue was down 13.5% yoy, including a positive scope effect of €268m from the Clarion and SAS consolidation. Such revenue contraction happened in a quarter that saw worldwide automotive production down by 23.6% (according to IHS Markit). Furthermore, IHS Markit expects worldwide automotive production to be down 45% in Q2 and -34% in H1. Therefore, and taking into account Faurecia’s geographical sales composition, we expect a more severe revenue contracti
22 Apr 2020
Q1 results strongly impacted by COVID-19
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Q1 results strongly impacted by COVID-19
Forvia SE (FRVIA:PAR) | 0 0 (-1.4%) | Mkt Cap: 9,624m
- Published:
22 Apr 2020 -
Author:
David Chaucayanqui -
Pages:
3
Faurecia’s reported revenue was down 13.5% yoy, including a positive scope effect of €268m from the Clarion and SAS consolidation. Such revenue contraction happened in a quarter that saw worldwide automotive production down by 23.6% (according to IHS Markit). Furthermore, IHS Markit expects worldwide automotive production to be down 45% in Q2 and -34% in H1. Therefore, and taking into account Faurecia’s geographical sales composition, we expect a more severe revenue contracti