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Valeo: reports H1 net attributable income of E162m

( - Valeo's H1 2019 consolidated sales reached 9,776 million euros, down 1% y-o-y.

OE sales reached 8,220 million euros, down 3% LFL.

Order intake reached a total of 11.1 billion euros in the first half of the year.

The group's operating income reached 514 millions euros, up 0.5 point. Meanwhile, EBITDA came in at 1,218 million euros, up 1 point. Valeo's net income, group share reached 162 million euros, up 0.7 point.

Valeo has confirmed its guidance for FY 2019. It expects to outperform the second half of 2018, with a continuation in its program to cut costs by over 100 million euros, with capex cut by more than 100 million euros, EBITDA growth in terms of value, an operating margin excluding share in the results of equity affiliates (as a % of revenue) of between 5.8% and 6.5%. Valeo aims to continue generating free cash flow in the second half of the year.

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