Full-year 2022 results

Full-year 2022 results

Our Achievements: Growth, Resilience, Cash Generation & Deleveraging

Our Achievements: Growth, Resilience, Cash Generation & Deleveraging
  • Growth: sales of €25.5bn, +63% on a reported basis and +17% on an organic basis
  • Resilience: operating margin of 5.0% in H2 2022 and 4.4% in FY 2022
  • Cash generation: strong net cash flow of €471m 
  • Deleveraging: net debt/adj. EBITDA ratio at 2.6x at year-end vs. 3.1x at June 30
Our Priorities: Deleveraging, Integration & Sustainable Growth 
  • Deleveraging: €1bn disposal program fulfilled through contemplated transactions announced to date
  • Integration of HELLA: cost synergies upgraded to > €300m and sales synergies upgraded to > €400m, supported by 2022 strong joint order intake of €1.8bn 
  • Sustainable profitable growth: strong 2022 order intake of €31bn at an average margin above 7%, supporting medium-term profitable growth targets
results 2022
FY 2023 Guidance

Based on the following assumptions:

  • Worldwide automotive production of 82 million vehicles in 2023, broadly flat vs. actual production in 2022,
  • Average currency rates of USD/€ @ 1.10 and CNY/€ @ 7.50

FORVIA’s full-year 2023 guidance is as follows:

  • Sales between €25.2bn and €26.2bn (incl. an estimated impact of €(1.3)bn from disposal transactions announced to date)
  • Operating margin between 5% and 6% of sales
  • Net cash flow exceeding 1.5% of sales
  • Net debt/Adj. EBITDA ratio between 2.0x and 2.4x at December 31, 2023, including the effect of the disposal program of €1bn by end-2023
Patrick KOLLER, CEO of Faurecia, declared:

“2022 has been a historic year for the Group as we closed the acquisition of a majority stake in HELLA to create FORVIA, the world’s 7th biggest automotive technology player, combining the complementary offers and strengths of the two companies.


2022, which was initially expected to be a year of recovery from the Covid crisis, turned out to be a year of continued semiconductor shortages and supply chain issues heightened by the outbreak of the war in Ukraine. The year was characterized by additional challenges, with high inflation, a surge in energy prices, rising interest rates and our disengagement from Russia.


In this uncertain environment, FORVIA’s 2022 performance reflects the new size of the Group, with consolidated sales above 25 billion euros, a resilient operating margin that reached 5% of sales in the second half of the year and a strong generation of net cash flow at 471 million euros.


We have fully refinanced the bridge-to-loan and bridge-to-equity to acquire HELLA. 


The disposals we have announced to date fulfill our 1 billion euro divestment program of non-strategic assets.


The significant progress made in the integration of HELLA allows us to raise both the cost and sales synergy targets.


With our assumption that 2023 volumes will be at a similar level to 2022, we target to improve our financial performance in 2023.


I would like to thank all the Faurecia and HELLA teams for their commitment to the creation of FORVIA, succeeding in a tough environment to deliver resilient financial performance and to creating the conditions for future success and profitable growth, comforted by the solid order intake of 31 billion euros recorded last year.”

  • The 2022 consolidated financial statements have been approved by the Board of Directors, under the chairmanship of Michel de ROSEN, at its meeting held on February 17, 2023.
  • These financial statements have been audited.
  • There is no full comparability between figures reported for 2021 and figures reported for 2022 as: Figures reported for 2021 are figures related to Faurecia “stand-alone” as reported in February 2022, Figures reported for 2022 include a major scope effect, i.e. the consolidation of HELLA since February 1, 2022 (i.e. 11 months in 2022, representing 26% of total Group sales).
Replay - Annual results 2022
annual results 2022

Full-year 2022 results - Press release

(PDF, 743.23 KB)


Full-year 2022 results - Presentation

(PDF, 8.97 MB)


Financial report

(PDF, 2.25 MB)

Media relation contact
Christophe Malbranque
Media Relations Director
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