Valeo: posts over 5% LFL sales growth in Q4

(CercleFinance.com) - Automotive component supplier Valeo has reported 5.
3% LFL growth in original equipment sales in Q4, which reached 4.2 billion euros for total sales of 5.0 billion euros.

The group announces that its EBITDA margin will exceed 13.5% in the second half of 2020 (vs. target communicated in October 2020: EBITDA margin of over 12%). This result has been achieved thanks to sound cost control - in particular R&D expenses and overheads - and solid operational performance.

Free cash flow will exceed 1.3 billion euros (target communicated in October 2020: free cash flow of over 600 million euros).

For the full year, despite the major Covid crisis, Valeo will have generated positive free cash flow, in excess of 275 million euros.

The group said that its net financial debt will have been reduced to below 3 billion euros at the end of 2020, a year ahead of targets set.


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