Valeo has posted first-quarter consolidated sales up 15% to EUR3.6bn (US$3.9bn), an increase of 6% on a like-for-like basis.
Original equipment sales were EUR3.1bn, up 16% (7% like-for-like), outpacing global automotive production by six percentage points.
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“The 15% increase in sales in the first quarter of 2015 confirms the growth momentum at Valeo,” said Valeo CEO, Jacques Aschenbroich.
“This performance reflects the attractiveness of the Group’s portfolio of technologies in CO2 emissions reduction and improved vehicle performance as well as intuitive driving and its balanced geographic and customer positioning.
“The solid momentum attests to the validity of Valeo’s growth and profitability plan and, in 2015, we expect to outpace the market in the main automotive production regions while improving our operating margin.”
For this year, Valeo expects a rise of around 3% in global automotive production, including an increase of around 3% in Europe, excluding Russia, with raw material prices and exchange rates in line with current levels.
The supplier also expects higher growth than the market in the main production regions, with a slight increase in operating margin, as a percentage of sales, compared with 2014.
