Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
  • TickerEO
  • ISINFR0000121147
  • ExchangeEuronext Paris
  • SectorAutomobiles & Parts
  • CountryFrance

Analysts

Expert Corporate Governance Service (ECGS)

Faurecia - AGM and EGM 28 May 2019

The mandates of the statutory auditors are coming to an end. It is therefore proposed to renew the mandate of Ernst & Young and to approve the appointment of Mazars to replace PriceWaterhouseCooper. The latter will be supported, but the renewal of Ernst & Young in office for 36 years will not be supported.  Of the five appointments and cooptations proposed, only two will be supported. Indeed, three candidates are considered as non-independent by ECGS while the Board presents a majority of members who are not free of potential conflicts of interest (resolutions 7 to 11).  The main change in t...

Charles Pinel

Faurecia - Assemblée générale des actionnaires du 28 mai 2019

Les mandats des commissaires aux comptes arrivent à échéance. Il est donc proposé de renouveler le mandat d'Ernst & Young et d'approuver la nomination de Mazars en remplacement de PriceWaterhouseCooper. Cette nomination sera soutenue, mais le renouvellement d'Ernst & Young en fonction depuis 36 ans ne pourra pas l'être.  Parmi les cinq nominations et cooptations proposées au conseil, seules deux seront soutenues. En effet, trois candidats sont considérés comme non-indépendants par Proxinvest alors que le conseil présente une majorité de membres non libres de conflits d'intérêts potentiels (ré...

FAURECIA SE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of FAURECIA SE (FR), active in the Auto Parts industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date May 7, 2019, the closing price was EUR 41.32 and its target price was estimated at EUR 33.75.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to cyclicals Our positive outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains intact and we believe a “buy the dip” strategy is warranted. We recommend taking advantage of recent weakness -- where applicable -- by adding exposure to cyclical Sectors. • Actionable Sectors: Consumer Discretionary and Manufacturing. Today's recommendations focus on autos, auto parts, and machinery which span the Discretionary and Manufacturing Sectors. We initially recommended adding exposure to autos and auto parts in our 3/14/19 Int'l Compass, and we view the recent mild pullb...

Faurecia: Update Following Publication of FY2018 results and closing of Clarion acquisition

Update to discussion of credit profile following the closing of the Clarion acquisition

Faurecia: Update Following Publication of FY2018 results and closing of Clarion acquisition

Update to discussion of credit profile following the closing of the Clarion acquisition

Faurecia SA - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Faurecia SA: Update Following Proposed Acquisiton of Clarion

Update to discussion of credit profile following the announcement to acquire Clarion in Q1 2019

FAURECIA SA: Faurecia's debt-financed acquisition of Clarion is credit negative; rating remains unchanged

The debt-financed acquisition of Clarion will increase Faurecia's leverage, but key credit metrics remain in line with our requirements for a Ba1.

Faurecia SA: Key Facts and Statistics - H1 June 2018

A summary company profile, detailing Faurecia SA’s business operations and financial highlights.

Richard Hilgert

Morningstar | Faurecia Reports 1Q Revenue, Outperforms Global Auto Production; Maintaining EUR 39 FVE

No-moat-rated French auto-parts supplier Faurecia is required to disclose full financial statements every six months. The company reports only revenue in the first and third fiscal quarter of each year. For the first quarter of 2019, Faurecia reported EUR 4.3 billion in revenue, representing a 0.2% increase on a reported basis compared with the prior year. Excluding the favorable impact of currency translation, organic revenue growth would have declined 1.1%. However, global light-vehicle production declined 6.9%, meaning that Faurecia's organic revenue outperformed global auto production by 5...

Richard Hilgert

Faurecia Reports 1Q Revenue, Outperforms Global Auto Production; Maintaining EUR 39 FVE

No-moat-rated French auto-parts supplier Faurecia is required to disclose full financial statements every six months. The company reports only revenue in the first and third fiscal quarter of each year. For the first quarter of 2019, Faurecia reported EUR 4.3 billion in revenue, representing a 0.2% increase on a reported basis compared with the prior year. Excluding the favorable impact of currency translation, organic revenue growth would have declined 1.1%. However, global light-vehicle produc...

Michael Foundoukidis

ODDO : Recent Auto Parts rebound looks premature, downgrades not over yet

>The environment is still tough and does not give cause for optimism - The upcoming Q1 2019 earnings reports from auto suppliers are unlikely to provide grounds for optimism and should confirm our cautious stance on the segment in the short term. Indeed, the low level of activity in Q1 is likely to result in a strong fall in profitability at certain players in Q1/H1, notably so-called technology players (Continental, Valeo), which in our view are in the front line and...

Michael Foundoukidis

ODDO : Un rebond boursier prématuré, les révisions en baisse vont se poursuivre

>Un environnement toujours difficile qui n’incite pas à l’optimisme - Les publications T1 19 à venir des équipementiers ne devraient pas inciter à l’optimisme et nous conforter dans notre prudence à court terme sur le segment. Le faible niveau d’activité du T1 devrait, en effet, se traduire par de fortes baisses de la rentabilité chez certains acteurs au T1/S1, notamment ceux dits technologiques (Continental, Valeo) qui restent, selon nous, en première ligne et sur le...

Richard Hilgert

Morningstar | Faurecia Reports Solid 2018 Despite Headwinds; Maintaining EUR 37 FVE

No-moat-rated Faurecia, the seating, interior components, and emissions control supplier, reported full-year earnings per diluted share of EUR 5.09, a healthy improvement from EUR 4.40 reported a year ago but EUR 0.03 shy of the sell-side consensus. The company reports only revenue in the first and third fiscal quarters and complete financials for the first half and full year. Full-year 2018 revenue was EUR 17.5 billion, representing a 3.3% increase from the prior year. Excluding the unfavorable impact of currency translation, organic revenue growth would have been a solid 7%. Faurecia's full...

1 director sold

A director at Faurecia sold 3,273 shares at 38.000EUR and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alfred Glaser ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Michael Foundoukidis
  • Pierre Tegner
  • Pierre Corby
  • Roland Pfaender
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/04/2019

...

Fatma Agnès Hamdani ...
  • Florent Laroche-Joubert
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olivier Lebrun
  • Pierre Tegner
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/09/2019

...

Emmanuel Matot ...
  • Florent Laroche-Joubert
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 04/09/2019

...

Fatma Agnès Hamdani ...
  • Florent Laroche-Joubert
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olivier Lebrun
  • Pierre Tegner
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/04/2019

...

Emmanuel Matot ...
  • Florent Laroche-Joubert
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 09/04/2019

...

FAURECIA SE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of FAURECIA SE (FR), active in the Auto Parts industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date May 7, 2019, the closing price was EUR 41.32 and its target price was estimated at EUR 33.75.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Anne-Barbara Nicco

Faurecia : Limited impact on the credit from the Clarion acquisition

Faurecia announced the acquisition of Japanese company Clarion for € 1.2bn, including debt. There was no question of "if" but "when" in the announcement of a transforming acquisition by Faurecia, a possibility that did not prevent us from recommending to subscribe to Faurecia's 2025 bond issue in February 2018, given the very limited 0.2x leverage of the company and its rigorous financial policy (management widely communicated on its commitment to maintain leverage under the 1x m...

Anne-Barbara Nicco

Faurecia : Limited impact on the credit from the Clarion acquisition

Faurecia announced the acquisition of Japanese company Clarion for € 1.2bn, including debt. There was no question of "if" but "when" in the announcement of a transforming acquisition by Faurecia, a possibility that did not prevent us from recommending to subscribe to Faurecia's 2025 bond issue in February 2018, given the very limited 0.2x leverage of the company and its rigorous financial policy (management widely communicated on its commitment to maintain leverage under the 1x m...

Anne-Barbara Nicco

Faurecia : Impact crédit limité de l’acquisition de Clarion

Faurecia a annoncé l’acquisition du groupe japonais Clarion pour 1.2 md EUR dette incluse. Il n’était pas question de « si » mais de « quand » au sujet de l’annonce d’une acquisition transformante par Faurecia, une possibilité qui ne nous avait pas empêchés de recommander de souscrire à l’émission Faurecia 2025 en février 2018, compte tenu de leverage ramené à 0.2x et de la rigueur du groupe en terme de politique financière (il avait largement communiqué sur sa volonté de ne pas ...

Expert Corporate Governance Service (ECGS)

Faurecia - AGM and EGM 28 May 2019

The mandates of the statutory auditors are coming to an end. It is therefore proposed to renew the mandate of Ernst & Young and to approve the appointment of Mazars to replace PriceWaterhouseCooper. The latter will be supported, but the renewal of Ernst & Young in office for 36 years will not be supported.  Of the five appointments and cooptations proposed, only two will be supported. Indeed, three candidates are considered as non-independent by ECGS while the Board presents a majority of members who are not free of potential conflicts of interest (resolutions 7 to 11).  The main change in t...

Charles Pinel

Faurecia - Assemblée générale des actionnaires du 28 mai 2019

Les mandats des commissaires aux comptes arrivent à échéance. Il est donc proposé de renouveler le mandat d'Ernst & Young et d'approuver la nomination de Mazars en remplacement de PriceWaterhouseCooper. Cette nomination sera soutenue, mais le renouvellement d'Ernst & Young en fonction depuis 36 ans ne pourra pas l'être.  Parmi les cinq nominations et cooptations proposées au conseil, seules deux seront soutenues. En effet, trois candidats sont considérés comme non-indépendants par Proxinvest alors que le conseil présente une majorité de membres non libres de conflits d'intérêts potentiels (ré...

Faurecia – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 29/05/2018

ITEMS 9 and 10: Amounts granted in 2017 to Mr Delabrière and Mr de Rosen are excessive compared to the SBF120 median ITEM 11: Although the company’s disclosure allows shareholders to clearly understand amounts granted, the latest are excessive and unbalance the global structure of the 2017 total remuneration of Mr Koller, CEO. ITEM 8: the company proposes to increase by 10% the fixed remuneration. This increase is not itself an issue. However, the company did not compensate this increase (by decreasing the maximum bonus to 150% of fixed remuneration for example). It is unfortunate as structu...

Jehanne Leroy

Proxy Report - 29/05/2018

Les montants attribués au titre de 2017 aux Président Yann Delabrière et Michel de Rosen (respectivement 303 071 € et 321 876 €) excèdent la médiane des rémunérations totale des Présidents non exécutifs du SBF 120. Aussi, nous ne soutenons pas les résolutions 9 et 10.De la même façon, bien que la communication de la société permette une bonne compréhension des montants attribués à M. Koller, Directeur général, ceux-ci sont bien trop généreux et déséquilibrent la structure de la rémunération totale de M. Koller pour 2017. Nous ne soutenons donc pas non plus la résolution 11. Par ailleurs, si l...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to cyclicals Our positive outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains intact and we believe a “buy the dip” strategy is warranted. We recommend taking advantage of recent weakness -- where applicable -- by adding exposure to cyclical Sectors. • Actionable Sectors: Consumer Discretionary and Manufacturing. Today's recommendations focus on autos, auto parts, and machinery which span the Discretionary and Manufacturing Sectors. We initially recommended adding exposure to autos and auto parts in our 3/14/19 Int'l Compass, and we view the recent mild pullb...

Matthieu DRIOL

Short term view - FAURECIA : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €46.55. The next target is at €39.26, then €36.01. Passing €57.68 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - FAURECIA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 46,55 € prochainement. Le prochain objectif est à 39,26 €, puis 36,01 €. Le franchissement de 57,68 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - FAURECIA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €39.26. The background trend would be questioned should prices rise above €57.68.

Matthieu DRIOL

Analyse court terme - FAURECIA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 39,26 €. La tendance de fond serait remise en cause en cas de franchissement de 57,68 €.

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