Faurecia SA Issues FY 2013 Guidance In Line with Analysts' Estimates and Announces No FY 2012 Dividend Payment
Faurecia SA announced that it expects to increase its sales for full year 2013 to between EUR 17.5 billion and EUR 17.9 billion (at 2012 exchange rates), to grow its operating income and to have a neutral net cash flow. The Company reported full year 2012 operating income of EUR 514 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full year 2013 revenue of EUR 17.86 billion and full year 2013 operating profit of EUR 560.5 million. The Company also announced that, taking into account the Group's results in a difficult European context, and to mobilize all resources towards future development, the Board of Directors has decided to propose to the next shareholders' meeting that no dividend be paid for full year 2012.
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