Click here if you cannot view this newsletter properly
Valeo - La eNewsletter des actionnaires
  September 2014 Valeo
Valeo
Valeo A word from
the Chief Executive Officer
    First-half
2014 results
    Events     About
Valeo
Valeo
Valeo
 
A word from the Chief Executive Officer
Valeo

In the first half of 2014, orders booked by the Group totaled 9.1 billion euros, up 25% on first-half 2013, once again confirming the Group's high organic growth potential. Consolidated sales grew by 10% on a like-for-like basis as did the original equipment segment, which outpaced global automotive production by 7 percentage points. Valeo achieved an operating margin including the share in net earnings of equity-accounted companies of 7.0% of sales. Thanks to the commitment of all our employees, Valeo confirms its ability to achieve an operating margin in excess of 7%.

Jacques Aschenbroich,
Chief Executive Officer

Valeo
First-half 2014 results

In the first half of 2014, order intake surged 25% to 9.1 billion euros, sales came in at 6.3 billion euros (up 10% like for like), operating margin* rose 15% to 442 million euros (7.0% of sales) and net income climbed 38% to 262 million euros

First-half 2014 results

Order intake up 25% on first-half 2013 to 9.1 billion euros, confirming the Group's high growth potential

Consolidated sales of 6,347 million euros, up 10% on a like-for-like basis (7% as reported)

Original equipment sales amounted to 5,432 million euros, up 10% on a like-for-like basis, outpacing global automotive production by nearly 7 percentage points:
  China: up 36%, outpacing automotive production by 25 percentage points
  Asia excluding China: up 10%, outpacing automotive production by 8 percentage points
  - Europe: up 10%, outpacing automotive production by 6 percentage points
  - North America: up 6%, outpacing automotive production by 3 percentage points
  - South America: down 13%, versus a 17% fall in automotive production
Operating margin* up 15% to 442 million euros, or 7.0% of sales
Net income up 38% to 262 million euros, or 4.1% of sales
Free cash flow of 153 million euros
  Net debt of 525 million euros after the dividend payment, the acquisition of Osram's 50% stake in joint venture Valeo Sylvania and the share buyback program

2014 outlook
Based on the following assumptions:
  - global automotive production up approximately 3% including an increase in automotive production in Europe of around 2%, and
  - raw material prices and currencies in line with current levels;
Valeo has set the following objectives for 2014
  - sales growth outperformance in the main production regions,
  - operating margin* slightly higher than 7% of sales.

Go to press release ›››

*Including share in net earnings of equity-accounted companies


Top



Events
 Paris, June 23, 2014

Valeo rejoins the CAC 40 index



"All 77,000 Valeo employees around the world can be proud of this achievement, which recognizes the great progress we have made over the past few years. It is also a sign of confidence from our shareholders, adding to the growing trust expressed by our customers."

Jacques Aschenbroich,
Directeur Général

Watch the video (in French only) ›››

Top


About Valeo

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving.

In 2013, the Group generated sales of 12.1 billion euros and invested over 10% of its original equipment sales in research and development. Valeo has 123 plants, 16 research centers, 34 development centers, 12 distribution platforms and employs 78,600 people in 29 countries worldwide.

Valeo is listed on the Paris Stock Exchange and is a member of the CAC 40 index.

www.valeo.com ›››


Top


 
Valeo
 

valeo
On June 23, 2014, Valeo rejoined the CAC 40 index.

 
Valeo Valeo Valeo
Valeo
 

valeo
Valeo won a 2014 Automotive News PACE (Premier Automotive Suppliers' Contribution to Excellence) Award for its back-over protection system. This system offers the advantages of both ultrasonic park assist sensors and a rear camera as well as a four-meter obstacle detection range.

Go to press release ›››

 
Valeo Valeo Valeo
Valeo
  October 21, 2014

Third-quarter 2014 sales

 
Valeo Valeo Valeo
Valeo
  Investor Relations

43, rue Bayen
75848 Paris Cedex 17
France

Individual shareholders

0 800 814 045
Toll-free number
(in France)

Website

www.valeo.com

 
Valeo Valeo Valeo
Valeo Valeo Valeo Valeo
© Copyright Valeo Management Services 2014
Valeo
If you wish to unsubscribe from Valeo’s Investor Relations, please click here.