PARIS -- Faurecia is targeting record sales, profits and cash generation in 2022 as a result of its strategy program and the boost from its acquisition of Japanese company Clarion.
The supplier expects annual average sales growth of above 5 percent between 2019-2022, with sales reaching above 20.5 billion euros ($22.60 billion) in 2022.
Faurecia said its operating margin should rise to 8 percent in 2022 versus its target of a 7 percent margin in 2019.
CEO Patrick Koller said the company's new business group, Faurecia Clarion Electronics, is a "strong enabler for the cockpit of the future and has a robust roadmap for profitable growth."
Koller also said the supplier's investment in fuel cell electric vehicles will accelerate its zero-emissions strategy and allow the company to benefit from rapid powertrain electrification.
"In 2022, we will see record sales, profitability and cash generation. From a longer-term perspective, we are preparing for the next major disruption and target carbon neutrality by 2030," Koller said.
Faurecia is 46 percent owned by PSA Group.