Forvia SE (MIL:1FRVIA)

€ 8.5 0.142 (1.7%) Market Cap: 1.60 Bil Enterprise Value: 10.17 Bil PE Ratio: 8.63 PB Ratio: 0.38 GF Score: 62/100

Half Year 2019 Faurecia SE Earnings Call Transcript

Jul 23, 2019 / 07:00AM GMT

Transcript

Patrick Koller

Faurecia S.A. - CEO & Director

Good morning, and warm welcome to this presentation of our H1 results.

And my intention today is to start with some highlights of the first half, followed by a detailed review by Michel, made by Michel, for our H1 results. And I will close this presentation with our full year 2019 guidance.

In a few words, I think that I can summarize our H1 results saying that we had resilient sales, resilient profitability and cash generation. Our sales outperformance of 420 basis points was achieved in a very challenging environment. We had an growth ex currencies and ex Clarion of minus 2.8%, this in an global automotive production environment at minus 7%. Our resilient profitability was demonstrated at -- in the last half of 2018 and again here in 2019. Our operating margin is at 7.2%, this including Clarion. And excluding Clarion, we achieved an operating margin at 7.3%. Our net cash flow is at EUR 257 million, up 3.9% year-on-year.

And few seconds about -- speaking about resilience, focusing about resilience. You see here that we were

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