View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 27, 2015

FRANCE: Valeo posts H1 net income up 34% to EUR343m

Valeo has recorded first-half net income up 34% to EUR343m (US$381m), while sales rose 15% to EUR7.3bn.

Valeo has recorded first-half net income up 34% to EUR343m (US$381m), while sales rose 15% to EUR7.3bn.

“Valeo’s results for the first half of 2015 reflect the hard work carried out by our teams over the past few years to develop a more diverse customer portfolio, strengthen our products’ technological advantage and further align the Group’s businesses geographically,” said Valeo CEO, Jacques Aschenbroich.

“Furthermore, the figures demonstrate the strength of Valeo’s growth model in any market conditions.

“Our record order intake – which stands at EUR10.7bn – and the 15% growth in sales reflect the commercial success of technologies developed by the Group for CO2 emissions reduction and intuitive driving.

“This growth was accompanied by a 23% increase in our operating margin, a 34% increase in net income and a doubling of free cash flow. These first-half results put Valeo ahead of schedule in terms of the medium-term plan presented at our Investor Day in London on March 16, 2015.”

Valeo is raising its full-year 2015 guidance, as follows: sales growth outperformance in the main production regions, including China; operating margin – as a % of sales – higher than in 2014, with a slight increase in operating margin – as a % of sales – in the second half of 2015 compared to the first half.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto