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 2021 Faurecia SE Earnings Call Transcript

Jul 26, 2021 / 07:00AM GMT

Release Date Price: €33.77 (-6.17%)

Transcript

Patrick Koller

Faurecia S.E. - CEO & Director

Good morning. I wish you a very warm welcome to our H1 2021 results presentation. We will -- with Michel Favre, our CFO, we will present to you the highlights of the first half, the financial review made by Michel, and we will close this presentation with our key takeaways and our guidance for 2021.

So if I start with the H1 highlights. So despite adverse impacts related to shortage of semiconductors and raw material inflations, we were able to deliver a very strong EUR 7.8 billion of sales, up 32% on an organic basis, which showed an outperformance of 760 basis points in the second quarter and 170 basis points in the first half. We also delivered an EBITDA margin of 14.2% and an operating margin of 6.6%. Michel will show you the very strong operating leverage we delivered. Our net cash flow at EUR 290 million is above our budget, and is allowing us to significantly deleverage our net debt-to-EBITDA ratio of 1.5x as of June 30.

In the meantime, we were also able to deliver a very strong order intake at this first half with EUR 12

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