Valeo: confirms margin and cash flow targets

(CercleFinance.com) - Total sales ezached E11,117m in H1, down 1% y-o-y.


OE sales slipped 1% LFL, while Replacement market sales rose 5% LFL.

EBITDA was E1,383m, or 12.4% of sales, up 0.8 point from H1 2023, in line with the 2024 guidance (between 12.1% and 13.1% of sales).

Operating profit, excluding share of profits of associates came to E445m, or 4.0% of sales, up 0.8 point y-o-y.

Operating income totaled E399m. Group share of net income amounted to E141m. H1 free cash flow generation was E121m, in line with the FCF target of E350m for 2024.

Order intake fell to E9.1bn, due to project deferrals in H2.

Regarding 2024 and 2025 targets: adjusted sales targets taking into account market dynamics, margin and FCF targets have been confirmed, supported by cost reduction measures, the group says.


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