VALEO 
September 2022
Kepler Cheuvreux Autumn Conference
CHRISTOPHE
PÉRILLAT
CEO
01
A turbulent environment…
Electronic components
shortage | > 50BN | 20,000+ | ||
components | references | |||
purchased every year
Ongoing improvement in H2 2022
Energy long-term and fixed-price contracts in 2022 | |
Energy | Limited direct exposure on gas in Continental Europe |
Input cost and salaries headwinds in 2022
~€200M materials and energy net inflation headwinds confirmed
thanks to constructive discussions with customers
~60M additional labor inflation costs
compensated by our efficiency plan
…weighing on automotive production
Global Light Vehicle Production
Vehicle losses vs pre-crisis level | Valeo's guidance: | ||||||||||||||||||
base & downside | |||||||||||||||||||
scenario | |||||||||||||||||||
units | 82.9 | ||||||||||||||||||
(11.8) | |||||||||||||||||||
(14.4) | |||||||||||||||||||
79.9 | |||||||||||||||||||
89.0 | |||||||||||||||||||
Million | |||||||||||||||||||
81.1 | |||||||||||||||||||
77.2 | |||||||||||||||||||
74.6 | |||||||||||||||||||
Source : S&P Global Mobility (ex IHS Markit) estimates as of August 15 , 2022
VALEO RESERVED | JULY 22 | 2 |
01
H1 financial highlights
Group Sales
€9,419M
Up 2% lfl vs. 2021
Exchange rates: +3.4%
Scope: -0.4%
Robust"activity
in a challenging environment
OEM Sales
€7,813M
Up 1% lfl vs. 2021
Exchange rates: +3.8%
Scope: -0.3%
Outperf. of 3pts
3pts excl. geographical mix
"
Outperformance in all regions
Aftermarket Sales
€1,140M
Up 11% lfl vs. 2021
Exchange rates: +0.2%
Scope: -0.9%
"
Sharp increase
in Aftermarket sales
VALEO RESERVED | JULY 22 | 3 |
01
H1 financial highlights
Operating margin | JV & Associates | Net income | |||||||||||||
(excl. JV & Associates) | €(76)M | €(48)M | |||||||||||||
€258M | |||||||||||||||
(0.8)% of sales | |||||||||||||||
2.7% of sales | (0.5)% of sales | ||||||||||||||
" | " | " | |||||||||||||
Resilient | profitability in an | Valeo Siemens | eAutomotive on track | Including €32m in gross | |||||||||||
inflationary environment | to reduce its losses by 50% | impairment of Russian assets |
VALEO RESERVED | JULY 22 | 4 |
01
H1 financial highlights
EBITDA | Free cash flow | Recorded CAPEX* | |||||||||||||||||
€1,111M | €179M | €364M | |||||||||||||||||
11.8% of sales | Up 23% vs. 2021 | 3.9% of sales | |||||||||||||||||
" | " | ||||||||||||||||||
Resilient | profitability in an | Strict control | over Capex | ||||||||||||||||
inflationary environment | €337M investment cash outflows | ||||||||||||||||||
in H1 2022 |
*Excl. impact of IFRS 16 & capitalized R&D | ||||||
VALEO RESERVED | JULY 22 | 5 |
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Disclaimer
Valeo SA published this content on 13 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2022 07:29:03 UTC.
