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

Faurecia - Assemblée générale des actionnaires du 28 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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...

Richard Hilgert

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...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/19/2019

In spite of a thorough restructuring programme (operational and financial), Veolia’s valuation multiples remain close to their average historic levels. The group has significantly reduced its areas of industrial risk and is benefiting from its revamped commercial positioning. Optimisation is set to continue in the medium term and should drive performance, along with bolt-on acquisitions. Whilst there is a risk of macroeconomic slowdown, this is yet to be reflected in volumes. The valu...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/02/2019

En dépit d’une restructuration en profondeur (opérationnelle et financière), les multiples de valorisation de Veolia demeurent proches des niveaux historiques moyens. Le groupe a significativement réduit ses zones de risques industriels et bénéficie de son positionnement commercial renouvelé. L’optimisation va se poursuivre sur le moyen terme et alimenter la performance, avec une croissance externe ciblée. Si un risque de ralentissement macroéconomique existe, il ne se reflète pas enc...

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.

Faurecia SA - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Faurecia SA - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

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...

Richard Hilgert

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...

Jean-Louis Sempé

INVEST SECURITIES - FAURECIA : Résilience de la rentabilité et sous-évaluation - ACHAT, OC 56€ (vs 60€)

Michael Foundoukidis

Faurecia : Asia likely to be key in 2019

>2019 bodes to be a more challenging year - Faurecia’s full-year earnings release, broadly in line with expectations and guidance (which had not been revised down despite the more challenging H2) confirmed the progress made by the group both operationally (operating margin up 50bp) and financially (FCF: € 528m). That said, the 2019 guidance confirmed that the outperformance is likely to show a clear slowdown (as already observed in Q4) and that Asia will be key this y...

Michael Foundoukidis

ODDO : Brexit: auto parts makers in the firing line, tyre makers less affected

>Auto parts manufacturers amongst the hardest hit - As with carmakers, auto suppliers are likely to be in the front line in the event of a no-deal Brexit given the decline in automotive demand that we expect in this scenario (-15%e over 2 years) but also the significant flows to and from continental Europe, in terms of vehicles but most importantly components. The UK is, for example, the second-largest auto export market for Germany (~15%e of its export volumes),...

1 director bought

A director at Faurecia bought 2,719 shares at 36.849EUR and the significance rating of the trade was 60/100. 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 memb...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/19/2019

In spite of a thorough restructuring programme (operational and financial), Veolia’s valuation multiples remain close to their average historic levels. The group has significantly reduced its areas of industrial risk and is benefiting from its revamped commercial positioning. Optimisation is set to continue in the medium term and should drive performance, along with bolt-on acquisitions. Whilst there is a risk of macroeconomic slowdown, this is yet to be reflected in volumes. The valu...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/02/2019

En dépit d’une restructuration en profondeur (opérationnelle et financière), les multiples de valorisation de Veolia demeurent proches des niveaux historiques moyens. Le groupe a significativement réduit ses zones de risques industriels et bénéficie de son positionnement commercial renouvelé. L’optimisation va se poursuivre sur le moyen terme et alimenter la performance, avec une croissance externe ciblée. Si un risque de ralentissement macroéconomique existe, il ne se reflète pas enc...

Bruno Cavalier ...
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/11/2019

While the disappointments on Q4 2018 were largely due to the market environment, these results nonetheless raise more long-term questions on inflows, equity activities and litigation. Forecasts and target price lowered. Neutral recommendation reiterated. - ...

Alain William ...
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Laurence Hofmann
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 02/11/2019

...

Alain William ...
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Laurence Hofmann
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 11/02/2019

...

An increasingly favourable environment allows FAURECIA to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of FAURECIA (FR), a company active in the Auto Parts industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date January 25, 2019, the closing price was EUR 39.78 and its expected value was estimated at EUR 35.43.

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 ...

Faurecia - Assemblée générale des actionnaires du 28 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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...

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 €.

Matthieu DRIOL

Medium term view - FAURECIA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €36.31, then €26.13. Passing €75.81 would question the continuation of the fall.

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