Valeo full-year 2007 revenues rose 1.5% year on year to EUR9,689m and gross margin rose by 2.3% to EUR1,497m or 15.7% of sales, versus 15.5% in 2006. Operating margin was up 8.1% to EUR346m thanks to quality improvement efforts and a re-engineering programme. Operating income rose 17.7% to EUR319m or 3.3% revenues (2.8%).