Faurecia is aiming for sales of over €20 billion by 2020, the French auto parts maker disclosed May 15 as it laid out financial targets for 2020 and 2025 ambitions during its Capital Markets Day.
The company is looking to double its sales in China to €4.5 billion by 2020 to help reach its target, according to the release.
Faurecia expects its leverage on sales and major group initiatives, such as its digital transformation plans, to result to an operating margin of 8% of sales in 2020. A part of the improved operating margin will be used to accelerate innovation projects.
By 2025, Faurecia is aiming for €30 billion in sales to represent a CAGR above 8% compared to 2020, including projected sales of €6.8 billion from new value spaces in its "Sustainable Mobility" and "Smart Life on Board" segments.
In 2017, the company reported €16.96 billion in sales, with its European operations accounting for 50% of the total sales, followed by North America at 26% and Asia at 17%.