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Valeo: sales growth slows down in in Q3.

(CercleFinance.com) - After trading on Tuesday, Valeo reported Q3 consolidated sales of 4.
3 billion euros, up 8% and 5% like-for-like relative to the same period of last year.

Revenues for OE alone reached 3.75 billion euros, up 8% and 6% at a constant consolidation scope compared to June-September 2016. This rise is also 4 points above global automobile production after taking into account the negative 1.2 point impact linked to the tight geopolitical context between China and Korea, the automotive parts maker explained.

The group, which has slightly raised its estimate for growth in global automotive production to about 2%, has confirmed its FY targets.

Therefore, Valeo still expects its sales growth to outperform the market by over 5 points, with a slight increase in its operating margin, which is despite the rising prices of raw materials and the difficulties faced in Korea.

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