Valeo has posted third-quarter sales of EUR2.9bn (US$4bn) – up 2.2% compared to the same prior-year period.
After taking account of exchange rate effects (5.2%) and changes in Group structure (4.4%), growth came to 12% on a like-for-like basis, up 8% in the first nine months of the year.
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Performance on a like-for-like basis was evenly spread between original equipment business (up 13%) and aftermarket business (up 10%).
Original equipment sales growth outpaced the global market by 11 percentage points, with contributions evenly spread across the different production regions.
Europe was up 10%, with Asia rising 13%, including 24% growth in China.
North America rose 25%, while South America increased 10%.
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By GlobalData“Valeo’s sales growth acclerated in the third quarter of 2013,” said Valeo CEO, Jacques Aschenbroich.
“The Group recorded excellent figures for the original equipment market, up 13%, 11 percentage points higher than global automotive production, as well as the aftermarket.
“These results reflect the gradual entry into production of the high order intake recorded by the Group over the last three years.”
For 2013, Valeo is confirming its objectives set at the first-half 2013 results, with performance higher than the market in main production regions.
The supplier is also predicting a slight increase in operating margin as a percentage of sales, assuming market conditions are stable in Europe.
