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Contents Faurecia 2017: a new trajectory 03 Message from Patrick Koller 05 Automotive megatrends accelerating the technology revolution 06 Sustainable Mobility strategic highlights 09 Smart Life on Board strategic highlights 11 Accelerating innovation expertise 14 Customer confidence drives growth 16 Operating efficiency 17 Governance 20 2017 key figures 22 1. Financial statements 23 1.1. The Faurecia group - business review and fi nancial statements 24 1.2. Faurecia parent company – business review and fi nancial statements 96 2 . Risks and risk control 121 2.1. Participants and systems 122 2.2. Description of main risks 127 3 . Governance and capital stock 137 3.1. Corporate governance 138 3.2. Capital stock and shareholder structure 190 4 . CSR 211 4.1. Human Resources and social policy 212 4.2. Environment 232 4.3. Societal actions 245 5 . Combined General Meeting of May 29, 2018 253 5.1. Agenda 254 5.2. Explanatory notes to the resolutions 255 5.3. Resolutions 278 5.4. Profi le of the Board member whose cooptation is put to the vote 283 5.5. Reports 284 6 . Other information 293 6.1. Background 294 6.2. Legal information 297 6.3. Organizational structure as of December 31, 2017 301 6.4. Additional information on audits of fi nancial statements 302 6.5. Declaration by the person responsible for the Registration Document and Information Offi cer 303 6.6. Cross-reference tables 304 II / Registration document 2017 Registration document 2017 including the annual fi nancial report Profl le Faurecia is a leading automotive technology company developing solutions for Sustainable Mobility and Smart Life on Board. Ambition Growth Innovation This Registration Document, including the annual financial report, was filed with the Autorité des Marchés Financiers (AMF) on April 26, 2018 pursuant to Article 212-13 of the General Regulation of the AMF. It may be used in connection with a financial transaction if accompanied by a memorandum approved by the AMF. This document has been prepared by the issuer under the responsibility of its signatories. The English language version of this Registration Document is a free translation from the original, which was prepared in French. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions expressed therein the original language version of the document in French takes precedence over this translation / Registration document 2017 01 02 / 2017 Registration Document Faurecia 2017: a new trajectory Faurecia 2017: a newne trajectory Message from Patrick Koller 05 Automotive megatrends accelerating the technology revolution 06 Sustainable M obility strategic highlights 09 Smart L ife on B oard strategic highlights 11 Accelerating innovation expertise 14 Customer confi dence drives growth 16 Operating effi ciency 17 Go vernance 20 2017 K ey fi gures 22 / 2017 Registration Document 03 Faurecia 2017: a new trajectory 04 / 2017 Registration Document Faurecia 2017: a new trajectory Message from Patrick Koller The trends in today’s automotive industry directly reflect our evolving society. The industry as a whole is experiencing the most significant revolution in its history as it adjusts to increasing demand for connectivity, health & wellness, personalization and sustainability. The increasing autonomy and connectedness of vehicles is radically altering the driving experience and as a consequence the vehicle interior. Different use cases are emerging for occupants allowing both drivers and passengers to be able to work or relax in certain situations. Faurecia has taken full measure of this, pioneering a comprehensive “ IN 2017 FAURECIA ACCELERATED technology offer that makes the cockpit of the future a reality today. SIGNIFICANTLY ITS STRATEGY Environmental and health concerns are driving FOCUSED ON SMART LIFE ever more stringent regulations across the world to minimize emissions from passenger cars and ON BOARD AND SUSTAINABLE commercial vehicles. Cities are looking for innovative MOBILITY .” ways to improve air quality and mobility for their citizens. To meet these challenges, the industry needs to continue to improve the performance of traditional powertrains, as well as accelerate powertrain electrification. In 2017 Faurecia accelerated significantly its strategy focused on Smart Life on Board and Sustainable Mobility. The Group signed several major partnerships with ZF, Mahle and Accenture, invested in eight startups and signed agreements with several major academic research establishments. This investment in the future was achieved at the same time as a strong financial and operational performance. I would like to thank all Faurecians around the world for this excellent year and for managing to balance both short term operational excellence with a strong acceleration of innovation for the future. Patrick Koller Chief Executive Officer / 2017 Registration Document 05 Faurecia 2017: a new trajectory Automotive megatrends accelerating the technology revolution Three major automotive trends are impacting Faurecia and accelerating the technology revolution: CO2 and emissions regulations continue to strengthen and societal pressure is increasing The powertrain mix is rapidly evolving towards increased electrification Connected vehicles are a reality and autonomous driving is developing fast CO emissions regulations CO targets 2 2 200 continue to strengthen g/km From above 150g CO2/km ten years ago, regulations have been rapidly imposing dramatic reductions around the world. 150 Whilst EU standards are the strictest, targeting 95g CO2/ km in 2021, China and the US will also converge to below 100g by 2025. Beyond that date, it is likely that the levels will continue to fall. In addition, the WLTP test cycle enforcement from September 2017 has, on average, an additional 10 - 15% impact on 100 measured emissions making the target even more difficult to reach. Pollutant emissions regulations (NOx and particulate NOx matter primarily) impact both diesel and direct injection gasoline engines. Whilst low emissions 0 standards have already been reached with the 2015 2020 2025 implementation of EURO 6 legislation in Europe, Tier Evolution of the CO emissions regulations 2 in the US and the upcoming Euro 5 equivalent in 2 China, the next challenges are the new real driving condition test procedures. These complementary test procedures are now being progressively introduced Commercial Vehicles and High in Europe thus making emission targets more difficult Horsepower engines (HHP) to reach. The main commercial vehicle markets that remain to be regulated are China and India which together represent around 50% of global volumes. These are now converging with Europe. As legislation comes into place including in coastal areas, the high horsepower market, including marine applications, is also rapidly increasing. TECHNOLOGY IMPACT Regulations will lead to an increase in the complexity and therefore the value of after-treatment for all vehicles. In terms of the mix of solutions required by the market, lightweight, energy recovery and low pressure EGR (Exhaust Gas Recirculation) are gaining importance. For Air Quality, the emphasis will be on breakthrough innovations such as ASDS (Ammonia Storage and Delivery System) in particular for the rapidly growing commercial vehicle market as well as the high horsepower market. 06 / 2017 Registration Document Faurecia 2017: a new trajectory Automotive megatrends accelerating the technology revolution The powertrain mix is evolving towards increasing electrification 2% 4% 7% 1% 2% 6% 8% 11% Electrification of the powertrain is an undisputed trend 13% 18% 23% and hybrid vehicles could represent over 30% of the 16% 30% market by 2025. 35% 14% For full electric vehicles (battery and fuel cell) the ramp 12% up rate is difficult to predict given the complexity of the 75% 9% different factors: technical, economic, political and 67% 57% Fuel cell societal. The diesel decline is making convergence 49% 43% BEV to 2021 CO2 targets more difficult, so investment in Hybrids electrification is accelerating. The market should ICE - Diesel ramp up after 2020 for both pure and hybrid electric 2018 2020 2023 2025 2030 ICE - Gasoline vehicles. The arrival of fuel cell electric vehicles (FCEV) will speed up from 2030 due to their advantages in Number of vehicles sold worldwide and % mix terms of range and refueling time. by powertrain TECHNOLOGY IMPACT Powertrain electrification drives increased need for technologies such as energy recovery systems. Acceleration of both battery and fuel cell electric vehicles is driving the need for lightweight battery housing and integrated battery thermal management and well as efficient fuel cell systems and lightweight fuel cell tanks. Connected vehicles are a reality Automation and autonomous driving is arriving Level (SAE) Description 5 Full automation, no more Full driver required Two main forces are reshaping the car industry: automation Connectivity: cars become part of the Internet-of- High automation, things 4 full automous drive High in specifi c environments automation Autonomous driving: cars become partly or totally autonomous. Conditional automation, 3 driver has to take control Conditional back from car at any time The trend for connected cars is driven both by automation legislation for safety (emergency calls), customer Partial automation, expectations for infotainment and technology 2 limited automous drive developments for
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