Forvia Se · EURONEXT:FRVIA
Forvia — Faurecia — Q3 2019 Earnings Presentation
30 slides from Forvia's earnings presentation, Oct 17, 2019
Slide 1: Q3 2019 Sales
Q3 2019 SALES Confirmed FY2019 guidance October 17, 2019 Project to acquire remaining 50% of SAS
Slide 2: Key messages
Key messages ◼ Strong sales outperformance of 290bps for the first nine months ◼ Q3 sales slightly below worldwide automotive production, reflecting peak impact from Seating EoPs, lower bolt-on contribution and GM strike Q1 actual Q2 actual Q3 actual Worldwide automotive production* -6.3% -8.2% -3.1
Slide 3: Agenda
Agenda 1 Q3 2019 Sales 2 Confirmed FY 2019 guidance 3 Project to acquire remaining 50% stake of SAS Q3 2019 Sales – October 17, 2019 3
Slide 4: Q3 2019 Sales slightly below worldwide automotive production
Q3 2019 Sales slightly below worldwide automotive production ◼ Worldwide automotive production was down 3.1%*** Q3 2019 sales in Q3 ◼ Faurecia’s Q3 sales amounted to €4,185m, up 4.3% +4.3% +1.7% on a reported basis; they included: €4,185m €256m ◼ A scope effect of €256m due to the consolidation of C
Slide 5: 9m 2019 Strong outperformance of 290bps
9m 2019 Strong outperformance of 290bps ◼ Worldwide automotive production was down 6.0%*** 9m 2019 sales in 9m, with China down 12.9%*** +1.2% ◼ Faurecia’s 9m sales amounted to €13,157m, up 1.2% +1.7% on a reported basis €146m €(400)m €407m €13,157m €13,005m ◼ Including a scope effect of €407m due t
Slide 6: Seating: Sales continued to be impacted by significant EoPs
Seating Sales continued to be impacted by significant EoPs Q3 2019 sales ◼ Sales of €1,571m, down 9.9% on a reported basis ◼ Including a positive currency effect of +0.7% €12m €(184)m ◼ No bolt-on contribution in Q3 €1,743m +0.7% ◼ Sales ex-currencies dropped by 10.5%, impacted by: ◼ A negative impa
Slide 7: Interiors: Continued outperformance in a challenging environment
Interiors Continued outperformance in a challenging environment Q3 2019 sales ◼ Sales of 1,198m, up 1.1% on a reported basis ◼ Including a positive currency effect of +2.6% €31m €(17)m (mainly the USD and the TRY vs. the euro) €1,198m -1.5% €1,185m +2.6% Vs. automotive ◼ Sales ex-currencies dropped
Slide 8: Clean Mobility: Strong outperformance in a challenging environment
Clean Mobility Strong outperformance in a challenging environment Q3 2019 sales ◼ Sales of 1,114m, up 5.1% on a reported basis ◼ Including a positive currency effect of +2.0% (mainly attributable to the USD vs. the euro partly offset by the ARS) €33m €1,114m +3.1% ◼ Sales ex-currencies grew by 3.1%,
Slide 9: Faurecia Clarion Electronics
Faurecia Clarion Electronics Solid growth at Coagent and integration of Clarion and Parrot Automotive Q3 2019 sales €302m ◼ Sales of €302m, included: ◼ €32m for Coagent ◼ €14m for Parrot Automotive, consolidated as from Jan. 1, 2019 ◼ €256m for Clarion (4 months in Q3 = June catch-up + July to Clari
Slide 10: Europe: Resilient sales excluding the negative impact from Seating EoPs
Europe Resilient sales excluding the negative impact from Seating EoPs Q3 2019 sales ◼ Sales of €1,875m, up 0.9% on a reported basis, including: ◼ Limited positive currency effect of +0.5% €9m €(13)m €21m €1,875m ◼ Limited bolt-on contribution (Parrot Automotive) of €12m (+0.6%) €1,858m +0.5% +1.1%
Slide 11: North America: Continued impact from EoP in Seating + GM strike
North America Continued impact from a significant EoP in Seating + GM strike impact Q3 2019 sales ◼ Sales of €1,134m, up 1.8% on a reported basis, including: ◼ Positive currency effect of +4.3% (mainly the USD vs. the euro) €(82)m Clarion scope effect of €54m (+4.9%) €48m ◼ +4.3% €54m €1,134m ◼ Sale
Slide 12: Asia: Strong growth in reported sales driven by Clarion consolidation
Asia Strong growth in reported sales driven by Clarion consolidation Q3 2019 sales ◼ Sales of €942m, up 16.8% on a reported basis, including: €179m €942m ◼ Positive currency effect of +1.6% (mainly the CNY and the THB vs. the euro) ◼ Clarion scope effect of €179m (+22.2%) ◼ Sales ex-currencies* drop
Slide 13: South America: Sales growth in all Business Groups
South America Sales growth in all Business Groups Q3 2019 sales ◼ Sales of €186m, broadly stable on a reported basis, including: €185m €(7)m €2m €186m ◼ A negative currency effect of -3.5% €5m +1.0% (mainly the ARS vs. the euro partly offset by the BRL) -3.5% +2.7% Vs. automotive ◼ Sales growth ex-c
Slide 14: Agenda
Agenda 1 Q3 2019 Sales 2 Confirmed FY 2019 guidance 3 Project to acquire remaining 50% stake of SAS Q3 2019 Sales – October 17, 2019 14
Slide 15: Confirmed FY 2019 guidance, demonstrating increased resilience
Confirmed FY 2019 guidance, demonstrating increased resilience ◼ With the revised assumption of worldwide automotive production, now expected to be down by close to 6% in 2019 vs. 2018, we confirm our full-year 2019 targets*: SALES PROFITABILITY NET CASH FLOW FY 2019 sales at constant FY 2019 operat
Slide 16: Agenda
Agenda 1 Q3 2019 Sales 2 Confirmed FY 2019 guidance 3 Project to acquire remaining 50% stake of SAS Q3 2019 Sales – October 17, 2019 16
Slide 17: Project to acquire remaining 50% stake of SAS
Project to acquire remaining 50% stake of SAS will strengthen Faurecia’s expertise in cockpit architecture and systems integration ◼ SAS: the Cockpit and Module Experts ◼ JV 50/50 between Faurecia and Continental ◼ Active for more than 20 years ◼ Leader in complex cockpit module assembly ◼ Flexible
Slide 18: SAS Company profile
SAS Company profile SALES BY REGION 19 PLANTS WORLDWIDE KEY FACTS 2018 South America Headquarter: Karlsruhe, Germany North 1% America 26% 4,487 employees worldwide €633 m* 73% Europe North America Europe ◼ 3,662 MoD ◼ 4 plants ◼ 11 plants ◼ 825 MoI ◼ 1,153 employees ◼ 2,880 employees ◼ 95 engineers
Slide 19: A strategic and immediately accretive acquisition
A strategic and immediately accretive acquisition ◼ SAS has been accounted for by the equity method in Faurecia’s consolidated statements: ◼ In 2018, the share of net income from associates (50%) amounted to €23.5m ◼ SAS sales (IFRS15) should be around €700m in 2019 (vs. €633m in 2018) and should ex
Slide 20: Q3 2019 Sales Appendices
‘Faurecia inspiring mobility Q3 2019 SALES Appendices
Slide 21: Q3 2019 sales by Business Group
Q3 2019 sales by Business Group Sales Reported Currency effect Growth ex-currencies* Clarion scope effect** Reported (in €m) Q3 2018 value % value % value % Q3 2019 % Seating 1,743 12 0.7% -184 -10.5% 1,571 -9.9% of which bolt-ons 0 0.0% Interiors 1,185 31 2.6% -17 -1.5% 1,198 1.1% of which bolt-ons
Slide 22: Q3 2019 sales by region
Q3 2019 sales by region Sales Reported Currency effect Growth ex-currencies* Clarion scope effect** Reported (in €m) Q3 2018 value % value % value % Q3 2018 % Europe 1,858 9 0.5% -13 -0.7% 21 1.1% 1,875 0.9% of which bolt-ons 12 0.6% North America 1,115 48 4.3% -82 -7.4% 54 4.9% 1,134 1.8% Asia 807
Slide 23: 9m 2019 sales by Business Group
9m 2019 sales by Business Group Sales Reported Currency effect Growth ex-currencies* Clarion scope effect Reported (in €m) 9m 2018 value % value % value % 9m 2019 % Seating 5,524 40 0.7% -354 -6.4% 5,210 -5.7% of which bolt-ons 106 1.9% Interiors 3,981 45 1.1% -86 -2.2% 3,939 -1.0% of which bolt-ons
Slide 24: 9m 2019 sales by region
9m 2019 sales by region Sales Reported Currency effect Growth ex-currencies* Clarion scope effect Reported (in €m) 9m 2018 value % value % value % 9m 2018 % Europe 6,588 -22 -0.3% -194 -2.9% 34 0.5% 6,406 -2.8% of which bolt-ons 43 0.6% North America 3,347 198 5.9% -222 -6.6% 101 3.0% 3,423 2.3% Asi
Slide 25: Q3 & 9m 2019 bolt-on contribution to sales
Q3 & 9m 2019 bolt-on contribution to sales Sales (in €m) Business Group Region Conso as from Q1 2019 Q2 2019 H1 2019 Q3 2019 9M 2019 Hug Engineering Clean Mobility Europe Q2 2018 14 0 14 0 14 JV with Wuling Interiors Asia Q2 2018 21 0 21 0 21 BYD Seating Asia Q3 2018 59 48 106 0 106 Parrot Automotiv
Slide 26: 2018 sales by quarter with Coagent presented separately from Interiors
2018 sales by quarter with Coagent presented separately from Interiors Sales (in €m) Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Seating 1,817 1,964 1,743 1,914 7,438 Interiors (restated for Coagent) 1,358 1,438 1,185 1,382 5,363 Clean Mobility 1,106 1,254 1,061 1,194 4,615 Coagent 34 20 26 30 109 (to b
Slide 27: Calendar
Calendar November 26, 2019 Capital Markets Day in Paris (Pavillon d’Armenonville) December 5, 2019 Goldman Sachs Global Automobile Conference (London) January 2020 Presence at the Consumer Electronics Show (Las Vegas) February 17, 2020 FY 2019 results announcement (before market hours) Q3 2019 Sales
Slide 28: Contact & share data
Contact & share data Investor Relations Share Data Bloomberg Ticker: EO:FP Marc MAILLET Reuters Ticker: EPED.PA Tel: +33 1 72 36 75 70 Datastream: F:BERT E-mail: marc.maillet@faurecia.com ISIN Code: FR0000121147 Anne-Sophie JUGEAN Tel: +33 1 72 36 71 31 E-mail: annesophie.jugean@faurecia.com Bonds I
Slide 29: Safe Harbor Statement
Safe Harbor Statement This report contains statements that are not historical facts but rather forward-looking statements. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates" and similar expressions identify these forward
Slide 30: Faurecia inspiring mobility
‘Faurecia inspiring mobility