Turnover: 25.5 billion EUR (2022)
Country: France
Faurecia, 57.4% owned by PSA, is the world's No. 7 automotive equipment manufacturer. Automotive seating is its core business (43% of sales in 2009, number 3 worldwide). Its 3 other key activities are interior systems (28%), emission control technologies (20%) and automotive exteriors (9%). 73 production sites, including 33 just-in-time sites, in 20 countries, are dedicated to seat manufacturing.
Faurecia has left the new Stellantis Group and taken the name Forvia.
News
Automotive: Forvia plans to cut 10,000 jobs in Europe 19/02/2024
- Forvia has plans to cut up to 10,000 jobs in Europe over the next five years.
- This represents 13% of its 75,500 employees in Europe.
- Forvia generates 46% of its sales in Europe, but only 22% of its operating profit.
- Volumes in Europe are expected to be 16% lower than in 2019 by the end of 2023.
- Automotive production in Asia has increased by 12% over the past four years, accounting for 57% of global output.
- Forvia and BYD are partners operating seven plants in China and plan to build an eighth in Thailand.
Near Lyon, Forvia relies on hemp and recycled materials as alternatives to plastic 09/12/2023
- Materi'Act, Forvia's sustainable materials subsidiary
- The company created by the merger between Faurecia and Hella has already recruited over 120 people, including around twenty PhDs in chemistry, biochemistry, materials and IT.
- The company expects to employ 400 people by 2025
- Materi'Act is diversifying: from a supplier of finished products for automotive brands, it is becoming a manufacturer of materials not only for the automotive industry, but also for sports, furniture and construction
- By 2030, Forvia plans to generate sales of 2 billion euros from this activity, i.e. just under 10% of total sales.
- The industrial activity is supported by an APM plant for hemp-derived auto parts near Dijon, and a recycled carbon tank plant in Allenjoie (Doubs)
- Forvia intends to open sites in America and Asia, closer to assembly plants, to reduce the carbon footprint of parts transportation. Materi'Act is also responsible for securing the sourcing of recycled plastic.
Forvia inaugurates the headquarters of its sustainable materials division MateriAct 25/11/2023
- Forvia has invested around twenty million euros in the renovation of Materi'Act's headquarters.
- Forvia expects Materi'Act to generate sales of 2 billion euros by 2030.
Germany's Forvia plant delivers its first hydrogen tanks 23/06/2023
- Medium-term target production capacity: 100,000 hydrogen tanks per year
- Allenjoie site customers: Stellantis, Hyvia (joint venture between Renault and Plug) and MAN
- Number of plant employees: around 250
- Forvia investment in hydrogen technology development: over 380 million euros
- Expected hydrogen revenues for Forvia in 2030: 3.5 billion euros
- Estimated global hydrogen market in 2030: 20 billion euros
Strong growth in Europe with Chinese carmakers 07/05/2023
- Merger of Faurecia and Hella in 2022 to form the Forvia group.
- Loss of 382 million euros for Forvia in 2022.
- Forvia sales in 2022: 25.46 billion euros, up 17%.
- Forvia sales in China: 5.38 billion euros, up 21.6% on 2021.
- China accounts for over 20% of Forvia's business.
- Chinese manufacturers will hold 50.5% of the local market in 2022.
- Global automotive production in 2022: 82 million units.
- World's largest automotive market: China, with 23.56 million vehicles sold in 2022.
- price differential on small electric vehicles between Chinese and European brands: around 10,000 euros.
Strong growth in Europe with Chinese carmakers 06/03/2023
- Sales of 25.46 billion euros in 2022, up 17% on a like-for-like basis
- In 2022, global automotive production will amount to 82 million units, roughly the same as in 2012
- China accounts for 5.38 billion euros in sales and 23.56 million vehicles sold in 2022
- For small electric vehicles, the price gap between Chinese and European brands is 10,000 euros
- Western automakers' share of sales shrinks
- Chinese automakers will have a 50.5% share of the local market by 2022 (including 5.5% for Baojun and Wuling, integrated into the GM Group)
- Forvia collaborates locally with Chinese giants such as NIOO, Geely, SAIC and BYD, tesla
Automotive: Forvia digests Hella takeover 20/02/2023
- Sales: 25.5 billion euros, up 63% year-on-year
- The group - formed following Faurecia's acquisition of German automotive supplier Hella - is enjoying its first year in this form
- Debt reduction through a program of divestments
- Sale to Plastic Omnium for €290 million of its shares in their hydrogen joint venture, HBPO
- Sale of its commercial vehicle exhaust gas treatment business to Cummins
Faurecia launches a capital increase, the stock plummets 16/06/2022
- Faurencia launches €705 million capital increase
- The share lost 7% after the capital increase was announced
- Faurencia seeks to finance 5.3 billion euro takeover of Hella
- Faurencia shares still down 43% since early 2021
- Margin target now 4-5% vs. 6-7% initially promised
- The Group has withdrawn its target of a positive free cash flow of 500 million euros, and is now content to break even
Forvia, formerly Faurecia, launches a capital increase following the purchase of Hella. 07/06/2022
- Forvia launches a €705 million capital increase to refinance part of the €5.3 billion acquisition of Germany's Hella
- The takeover created a new group called Forvia, seventh worldwide in the sector, but the turmoil on the financial markets has since complicated matters for the equipment manufacturer, which has lost 40% of its value since the beginning of the year.
- Forvia, with substantial sales of €24 billion, should benefit from the critical mass it has achieved
- The group expects synergies of 250 million euros by 2025
Financial Data
DUNS: 393162433
Legal Name: FAURECIA SIEGES D'AUTOMOBILE
Address: 23 AVENUE DES CHAMPS PIERREUX 23-27, 92000 NANTERRE
Number of employees: Entre 2 000 et 4 999 salariés (2021)
Capital: 100 000 000 EUR
Financial Data:
| Year | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|
| Turnover | 977 355 292 | 855 990 961 | 788 082 100 | 986 803 549 | 969 958 554 | 1 011 101 661 | 941 903 160 | 857 753 638 |
| Gross margin (€) | 792 337 475 | 728 476 991 | 699 640 221 | 796 237 098 | 777 177 986 | 799 011 362 | 765 806 197 | - |
| EBITDA (€) | 52 669 804 | 96 443 998 | 66 011 181 | 69 828 812 | 64 131 331 | 46 894 968 | 41 132 051 | - |
| Operating profit (€) | 34 431 700 | 84 340 886 | 46 935 236 | 53 326 071 | 54 906 163 | 44 378 111 | 34 806 472 | - |
| Net profit (€) | 36 093 662 | 72 053 493 | 49 143 724 | 61 575 161 | 50 020 287 | 49 709 718 | 42 959 595 | 7 012 858 |
| Turnover growth rate (%) | 14,2 | 8,6 | -20,1 | 1,7 | -4,1 | 7,3 | 9,8 | - |
| Ebitda margin rate (%) | 5,4 | 11,3 | 8,4 | 7,1 | 6,6 | 4,6 | 4,4 | - |
| Operating margin rate (%) | 3,5 | 9,9 | 6 | 5,4 | 5,7 | 4,4 | 3,7 | - |
| Working Capital (turnover days) | 12,2 | 27,8 | 41,1 | 17,7 | 25,5 | 26,2 | 14,7 | - |
| Working Capital requirements (turnover days) | 59,5 | 84,4 | 62,1 | 32,3 | 45,4 | 44,6 | 46,8 | - |
| Net margin (%) | 3,7 | 8,4 | 6,2 | 6,2 | 5,2 | 4,9 | 4,6 | - |
| Added value / Turnover (%) | 25,2 | 34,8 | 33,3 | 29,6 | 28,9 | 26,1 | 27,6 | - |
| Wages and social charges (€) | 208 774 713 | 213 590 750 | 203 912 170 | 229 895 068 | 229 401 503 | 226 408 459 | 226 185 961 | - |
| Salaries / Turnover (%) | 21,4 | 25 | 25,9 | 23,3 | 23,7 | 22,4 | 24 | - |
Company Managers:
| Position | First Name | Last Name | Age | |
|---|---|---|---|---|
| Président | Gilles | Corbel | 61 | |
| Président | Olivier | Lefebvre | 52 |
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