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DDR 2018 VA 0.Pdf Contents The Faurecia transformation 00 Faurecia in brief 04 Message from Patrick Koller 05 Key figures 2018 06 Key challenges facing the automotive industry 08 Seizing opportunities to emerge as a technology leader 09 Faurecia’s vision: Inspiring Mobility 10 Sustainable Mobility 12 Cockpit of the Future 14 An innovation ecosystem to accelerate Faurecia’s transformation 16 Three Business Groups to drive profitable growth 18 Achieving sustainable value creation through customer intimacy and operational excellence 19 An efficient risk management system 24 Robust performance demonstrating, resilience and profitable growth 26 Two governance bodies driving strategy and execution 27 The Chief Executive Officer’s compensation 29 Key financial figures 2018 30 1. Financial statements 31 1.1. The Faurecia group – business review and fi nancial statements 32 1.2. Faurecia parent company – business review and fi nancial statements 107 2. Internal Controls & Risk Management 133 2.1. Participants and systems 134 2.2. Description of the main risks 139 2.3. Insurance and coverage of risks 151 3 Governance and capital stock 153 3.1 Corporate governance 154 3.2. Capital stock and shareholder structure 205 4 CSR 227 4.1. Social Responsibility 228 4.2. Environmental Responsibility: introduction 252 4.3. Societal responsibility 268 4.4 Independent verifi er’s report on consolidated non-fi nancial statement presented in the management report 278 5 Combined General Meeting of May 28, 2019 281 5.1. Agenda 282 5.2. Explanatory notes to the resolutions 284 5.3. Resolutions 301 5.4. Profi les of the Board members whose candidates appointment is put to the vote 310 5.5. Profi les of the Board members whose cooptation is put to the vote 312 5.6. Reports 313 6. Other information 321 6.1. Background 322 6.2. Legal information 326 6.3. Organizational structure as of December 31, 2018 330 6.4. Additional information on audits of fi nancial statements 332 6.5. Declaration by the person responsible for the Registration Document and information offi cer 333 6.6. Cross-reference tables 334 II / RegistrationDocument de document référence 2018 2018 Registration document 2018 including the annual fi nancial report Profl l Faurecia is a leading automotive technology company developing solutions for Sustainable Mobility and the Cockpit of the Future. Ambition Innovation Transformation This Registration Document, including the annual financial report, was filed with the Autorité des Marchés Financiers (AMF) on April 26, 2019 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 2018 01 The Faurecia transformation Faurecia is in the midst of a major transformation to enable it to seize new opportunities in a rapidly changing automotive industry. The Group has decided to publish this introductory chapter to its Registration Document, to give all its stakeholders, from its employees and partners to its shareholders and investors, a clear understanding of its vision and strategy. This chapter addresses the way Faurecia responds to the major challenges of the automotive industry, through its commitment to inspiring mobility. The Group is becoming a technology company providing solutions for Sustainable Mobility and the Cockpit of the Future, working within a broader innovation ecosystem. Faurecia’s business model is focused on creating short and long-term value for all stakeholders, in terms of both financial and extra-financial performance. Faurecia’s transformation is embedded in a robust, ethical and efficient corporate governance structure. This chapter was inspired by the framework published by the International Integrated Reporting Council (IIRC). 02 / Registration document 2018 The Faurecia transformation The Faurecia transformation Faurecia in brief 04 Message from Patrick Koller 05 Key fi gures 2018 06 Key challenges facing the automotive industry 08 Seizing opportunities to emerge as a technology leader 09 “Inspiring Mobility”: Faurecia’s vision 10 Sustainable Mobility 12 Cockpit of the Future 14 An innovation ecosystem to accelerate Faurecia’s transformation 16 Three Business Groups to drive profi table growth 18 Achieving sustainable value creation through customer intimacy and operational excellence 19 An effi cient risk management system 24 Robust performance demonstrating, resilience and profi table growth 25 Two governance bodies driving strategy and execution 26 The Chief Executive Offi cer’s compensation 28 Key fi nancial fi gures 2018 29 / Registration document 2018 03 The Faurecia transformation Faurecia in brief Faurecia in brief Global Climate Demographic Resource Technological Trends change growth scarcity mutations Automotive, AUTOMOTIVE SOCIAL CONSUMER social - Connected - Ride sharing - Millenials - Urbanization - Freedom - Security & consumer - Autonomous - Electrified - Ageing - Asia - Affordability - Time Trends Vision INSPIRING MOBILITY Strong convictions in order to define Faurecia’s positive impact on society and all stakeholders Convictions and Values A corporate culture with strong values to promote entrepreneurial spirit and accountability Innovatio n Ecosy stem SUSTAINABLE MOBILITY Strategic priorities COCKPIT OF THE FUTURE Business Groups Seating Interiors Clean Mobility Operational excellence & digital manufacturing Fundamentals Customer centricity BECOME AN AUTOMOTIVE TECHNOLOGY LEADER IN A WORLD UNDERGOING SIGNIFICANT CHANGE 04 / Registration document 2018 The Faurecia transformation Message from Patrick Koller Message from Patrick Koller “WE DEMONSTRATED OUR AGILITY TO MANAGE THE SHORT TERM AND DELIVER ON OUR COMMITMENTS, WHILST AT THE SAME TIME INVESTING IN OUR FUTURE.” Faurecia has focused its strategy on developing solutions or battery electric vehicles. We are also deploying our emissions for the Cockpit of the Future and Sustainable Mobility. This reduction solutions into the High horsepower and Commercial strategy is fully aligned with the four major trends disrupting the Vehicles markets and to this end we completed the acquisition automotive industry: Connectivity, Autonomy, Ride-sharing and of Hug Engineering and re-negotiated our contract with our Electrification. In 2018 Faurecia made significant progress in the partner Cummins. deployment of this strategy whilst at the same time managing Even though the growth in the Chinese market slowed down some headwinds that disturbed the market in the second half in the second half of the year, it will still be the main driver of the year. We demonstrated our agility to manage the short of long term growth for the global automotive industry and term and deliver on our commitments, whilst at the same time will in particular see a rapid rise in electric vehicles. Faurecia investing in our future. continued its strategy of developing partnerships with Chinese At the CES show in Las Vegas in January of this year, we OEMs, and concluded two new Joint Ventures with FAW and highlighted the rapid progress we have made in developing Wuling Industry. Our objective is to have 40% of our sales with new user experiences for the Cockpit of the Future. Many of Chinese OEMs, matching their share of the overall Chinese these were developed with our innovation ecosystem which market. was expanded during 2018 to include Hella and five new In order to ensure the sustainable development of the Group start-up investments to complement the existing partnerships we identified six Convictions that will enable us to determine of Accenture, Mahle and ZF. In addition to completing the improvement targets and make a contribution to society. acquisition of Parrot Automotive, we announced a major Combined with our values, we now have a clear and strong strategic project to acquire Clarion, the Japanese supplier of culture, to guide our actions and make us attractive to future in-vehicle-infotainment (IVI) and full digital audio systems, HMI employees. and advanced driver assistance systems, connectivity and cloud-based services. With its core competences in electronics I would like to take this opportunity to thank our shareholders and software integration, this acquisition would significantly and the Board of Directors for their confidence, and in strengthen Faurecia’s offer for cockpit systems integration. particular all of the Group’s employees for their contribution to our performance in 2018. For Sustainable Mobility, we are focused on technologies for hybrid vehicles, which could represent 50% of the market Patrick Koller by 2025, as well as for zero emissions vehicles, be they fuel cell D irecteur général / Registration document 2018 05 The Faurecia transformation Key fi gures 2018 Key fi gures 2018 Sales €17,524.7m vs. €16,962,1m in 2017 Operating Income Profi tability (EBITDA) Net cash fl ow €2,140.6m€1,889.3m €1,273.9m €1,170.3m €528.1m €435.3m 20182017 2018 2017 2018 2017 Number of employees Number of production sites Number of R&D centers 114,693 300 35 vs. 109
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