Valeo: positive outlook despite 6% drop in sales

(CercleFinance.com) - Valeo has reported Q3 consolidated sales of 4.
4 billion euros, down 6% LFL.

In Q3, the group's world automotive production sales saw a significant rebound compared to H1. Y-o-y automobile production fell by 5% in the third quarter, compared to -35% in the first half.

Despite the upheaval in automotive due to the Covid-19 health crisis, Valeo retains a balanced distribution of its business between the main regions of automotive production and car makers.

In 2020, the Group confirmed that it aims to outperform automotive production by about 5 points and raised its financial forecasts for the second half of the year, with an EBITDA margin of over 12% (vs. "about 10%") and free cash flow of over 600 million euros (vs. "over 400 million euros").


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