Faurecia’s revenue fell by an ‘organic’ number of 2.8%, whereas the reported number was down by 0.2% to just below €9.0bn. The discrepancy is explained by a positive 0.9pp contribution from currencies (primarily from Nafta) plus the first-time consolidation of Japanese Clarion from 1 April. These numbers have translated into a stable EBIT of €645m, but pre-tax earnings were down by more than 12% to €447m, whereas net earnings were up by 1% to €346m.
23 Jul 2019
H1 earnings pressure below the operating profit line
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H1 earnings pressure below the operating profit line
Forvia SE (FRVIA:PAR) | 0 0 (-1.4%) | Mkt Cap: 9,624m
- Published:
23 Jul 2019 -
Author:
Hans-Peter Wodniok -
Pages:
2
Faurecia’s revenue fell by an ‘organic’ number of 2.8%, whereas the reported number was down by 0.2% to just below €9.0bn. The discrepancy is explained by a positive 0.9pp contribution from currencies (primarily from Nafta) plus the first-time consolidation of Japanese Clarion from 1 April. These numbers have translated into a stable EBIT of €645m, but pre-tax earnings were down by more than 12% to €447m, whereas net earnings were up by 1% to €346m.