France-based automotive supplier Faurecia SA has announced that its sales for 2015 soared more than 9 percent, coming in at nearly 20.7 billion euros ($23.26 billion), up from 18.8 billion euros ($21.17 billion) in 2014.
The company reported an operating income of 913 million euros ($1.02 billion) for 2015, up 35 percent on 2014.
Although Faurecia states it saw good results in Europe it said profitability in North America was above a 5 percent margin, which exceeds its target for 2016.
In December 2015 Faurecia announced that it was selling its automotive exteriors business to Plastic Omnium in a transaction valued at 665 million euros ($747 million). Faurecia said the sale would eliminate the company's net debt and allow it to invest in its other sectors.
Yann Delabrière, Chairman and CEO of Faurecia said: "In 2015, Faurecia achieved a solid performance with confirmed momentum in the second half and all the guidances were exceeded for both fiscal year and second half. A breakthrough in profitability was achieved in both semesters but especially in the second half when operating margin reached 4.8 percent already within the 2016 target range.
"In North America, profitability in the second half was above 5 percent largely surpassing the 2016 target. In December, Faurecia announced a major step in refocusing its portfolio with the disposal of Automotive Exteriors. It enhances our financial flexibility to accelerate investments in high added-value technologies. I would like to thank the Group's entire workforce for their contribution to our excellent performance."
Faurecia currently has 330 sites including 30 R&D centers in 34 countries around the world.