Valeo: Q1 2019 sales down slightly
(CercleFinance.com) - Valeo's Q1 sales fell 1% to 4,841 million euros in the first quarter of 2019 (-3% at constant scope and exchange rates).
OE sales fell 3% to E 4,121 million euros at constant consolidation scope and exchange rates, outperforming global automotive production by 4% (IHS estimates).
Revenues in the replacement market were down 4% at constant consolidation scope and exchange rates.
The group maintains its FY 2019 targets. The group aims for EBITDA growth in value terms, free cash flow generation in excess of its level in 2018, an operating margin excluding equity affiliates of between 5.8% and 6.5%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
OE sales fell 3% to E 4,121 million euros at constant consolidation scope and exchange rates, outperforming global automotive production by 4% (IHS estimates).
Revenues in the replacement market were down 4% at constant consolidation scope and exchange rates.
The group maintains its FY 2019 targets. The group aims for EBITDA growth in value terms, free cash flow generation in excess of its level in 2018, an operating margin excluding equity affiliates of between 5.8% and 6.5%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.