Faurecia S.A. reported consolidated earnings results for the second half and fiscal year of 2012. For the year, the company reported total sales of EUR 17,365 million against EUR 16,190 million a year ago. Operating income was EUR 514 million against EUR 651 million a year ago. Net income (group share) was EUR 142 million against EUR 371 million a year ago. Capital expenditure was EUR 557 million against EUR 451 million a year ago. Net financial debt as on December 31, 2012 was EUR 1,807 million against EUR 1,224 million as on December 31, 2011. The drop in operating income was driven primarily by a rapid slowdown in European automotive production. In North America, strong growth in sales was not sufficiently translated into higher operating income as a result of exceptional items linked to the launch of new programs. Operating income remained high in Asia. The rise in net debt results principally from the rapid slowdown in automotive production in Europe, particularly during the last two months of the year, which led to an increase in inventories and lower sales of receivables.

For the second half year, the company reported total sales of EUR 8,600 million against EUR 8,040 million a year ago. Operating income was EUR 211 million against EUR 311 million a year ago. Net income (group share) was EUR 22 million against EUR 185 million a year ago. Capital expenditure was EUR 291 million against EUR 275 million a year ago.

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 2012.

The company expects to increase its sales in 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 (before cash for restructuring estimated at between EUR 120 million and EUR 140 million).