Faurecia edges up on Q1 sales beat
17/04/2023 08:19
** Shares in Faurecia EPED.PA rise around 1% after Forvia,
the group created from its takeover of German auto lighting
maker Hella HLE.DE , reported Q1 sales ahead of expectations
** Forvia posts Q1 sales of 6.64 billion euros ($7.30
billion) vs 5.15 billion euros last year; confirms 2023 and
medium-term guidance
** It says organic sales growth was 17.6% vs worldwide
automotive production of 2.7%
** Jefferies says the Q1 sales were 5% higher than consensus
estimate of 6.34 billion euros
** Consensus expectations could be revised up slightly
following the results, J.P.Morgan says
** Faurecia's shares are up 50% year-to-date
($1 = 0.9098 euros)
(Reporting by Lina Golovnya and Diana Mandiá)
((diana.mandiaalvarez@thomsonreuters.com,
linagolovnya@thomsonreuters.com))