Valeo has recorded 2017 net income up 8% to EUR1.003bn (US$1.2bn), while consolidated sales rose 12% to EUR18.6bn.
The French supplier recorded a sharp rise in order intake up 17% year on year to EUR27.6bn for Valeo, while Valeo Siemens eAutomtoive value to date was EUR10bn, of which EUR6.1bn was last year.
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“Valeo’s very strong results in 2017 once again demonstrate the solidity of our growth model,” said Valeo chairman and CEO, Jacques Aschenbroich. “They were achieved amid more complex economic conditions, shaped in particular by the rise in the value of the euro and in raw material prices.
“The very high order intake, both for Valeo (EUR27.6bn) and for our joint venture Valeo Siemens eAutomotive (EUR6.1bn in 2017 and a cumulative EUR10bn at end-February 2018), confirms our excellent positioning on the fast-growing markets of hybrid, electric and autonomous vehicles and justifies our sustained investment in R&D and production capacity.
“At the end of the year we were also delighted to welcome the teams of FTE automotive and Valeo-Kapec. The integration, which is going well, will enable the Group to expand its footprint in Asia with Asian customers and to cement its leadership on the automatic transmissions market.”
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