October 12, 2017 / 4:33 PM / 10 months ago

Faurecia sales rise 7.3 percent on strong Asia performance

PARIS (Reuters) - French auto parts maker Faurecia (EPED.PA) said on Thursday quarterly sales rose 7.3 percent as the maker of car seats, exhausts and interiors harnessed strong Asian demand and weathered a North American production slowdown.

FILE PHOTO: Patrick Koller, Chief Executive Officer of French car parts supplier Faurecia, poses before the company's 2016 annual results presentation in Paris, France, February 9, 2017. REUTERS/Philippe Wojazer

Sales excluding passed-on catalytic converter monolith costs rose to 3.79 billion euros ($4.49 billion) in the third quarter, Faurecia said. Excluding the effects of acquisitions and exchange-rate fluctuations, revenue was up 10.7 percent.

Asian sales rose 19.3 percent on a reported basis to 701 million euros, helped in part by the consolidation of a Chinese joint venture with partner Changan. In North America, where Faurecia does about a quarter of its business, revenue fell 6.1 percent as auto production dropped 8.1 percent.

Faurecia reiterated full-year 2017 goals including cash flow above 350 million euros, 7 percent sales growth and an operating margin between 6.6 percent and 7 percent.

Reporting by Laurence Frost; editing by Michel Rose

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