Valeo: annual sales objective revised downwards

(CercleFinance.com) - Valeo has published sales of 5 billion euros for the 3rd quarter, down by 5% or -2% at constant reporting entity and exchange rates (like-for-like) compared to the same period a year earlier.


The company nevertheless asserts that it will 'outperform' automotive production by 3 points, which represents an improvement compared to the first half of 2024. Valeo thus highlights the "outperformance" of all its Divisions in relation to automotive production.

In detail, original equipment sales were down by 2% at constant reporting entity and exchange rates. It outperformed automotive production by 3 points.

Sales in the replacement market were up 3% on a like-for-like basis, benefiting from the increase and aging of the vehicle fleet, and the growing attractiveness of our value-added product offering.

Given the deteriorating economic climate, we are adjusting our sales objective for 2024 to around 21.3 billion euros (vs. 22 bn euros previously)", says Valeo CEO Christophe Périllat.

"The significant improvement in our results in the second half compared to the first half will result in the achievement of our margin and free cash flow objectives", assures the CEO.

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