Finding its way out of the economic crisis is proving to be arduous for automotive supplier Faurecia (Nanterre / France; www.faurecia.com). With a more than 20% slump in annual sales to EUR 9.3 bn in 2009 (EUR 12 bn in 2008), the PSA subsidiary posted an operating loss of EUR 91.7m, compared with an operating profit of EUR 91.2m a year earlier. The net loss for the dismal business year was EUR 433m, slightly less than the EUR 574m posted for 2008.
All is not gloom, however. The OEM supplier's business showed a significant upturn in the second half of 2009, when sales were down only 8% against the 2008 period after a 30% setback in the first six months. At EUR 95.6m, EBIT in H2 was positive, after a loss of nearly EUR 190m in H1.