Valeo: reduces FY sales target

(CercleFinance.com) - Valeo reports Q3 sales of E5bn, down 5% or -2% LFL compared with the same period a year earlier.


However, the company says it is "outperforming" automotive production by 3 points, an improvement on H1 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% LFL, benefiting from the increase and aging of the vehicle fleet, and the growing attractiveness of our value-added product offering.

In view of the deteriorating economic climate, we are adjusting our 2024 sales target to around E21.3bn (vs. E22bn), Valeo says.

The significant improvement in our results in H2 compared to H1 will result in the achievement of our margin and free cash flow targets, management said.


Copyright (c) 2024 CercleFinance.com. All rights reserved.