Valeo has unveiled second-half 2020 preliminary financial information, with EBITDA margin representing more than 13.5% of sales.
The supplier saw record free cash flow generation of more than EUR1.3bn (US$1.6bn) in the second half, resulting in more than EUR275m for full-year, 2020.
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Valeo recorded like-for-like growth in original equipment sales of 5.3% in the fourth quarter to EUR4.2bn, for total sales of EUR5bn.
“At a time when the automotive market has been profoundly impacted by the Covid-19 crisis, I would like to thank the Valeo teams for their commitment and performance,” said Valeo CEO, Jacques Aschenbroich.
“They can be proud of their work, both in terms of protecting the health of all of our colleagues and of the results they have achieved. Having reduced our debt to below EUR3bn one year ahead of our objective, we now have the robust financial structure we need to tackle with confidence the challenges that lie ahead in 2021.”
Valeo’s final audited 2020 results and 2021 outlook will be published, as scheduled, after the board of directors’ meeting on February 18.
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