Valeo, one of the world’s leading automotive component suppliers, has reported consolidated sales of 3,581 million euros, up 15% year on year, for the first quarter of 2015.
Jacques Aschenbroich, CEO of Valeo, said: "The 15% increase in sales in the first quarter of 2015 confirms the growth momentum at Valeo. This performance reflects the attractiveness of the Group's portfolio of technologies in CO2 emissions reduction and improved vehicle performance as well as intuitive driving, and its balanced geographic and customer positioning. The solid momentum attests to the validity of Valeo's growth and profitability plan and, in 2015, we expect to outpace the market in the main automotive production regions while improving our operating margin."
Original equipment sales of 3,113 million euros were up 16%, outpacing global automotive production by 6 percentage points. Sales were up 10% in Europe, 15% in China, 3% in Asia excluding China, 4% in North America but down 16% in South America. Aftermarket sales were up 6%.
As regards its outlook for 2015, assuming a rise of around 3% in global automotive production, including an increase of around 3% in Europe excluding Russia and raw material prices and exchange rates staying in line with current levels, Valeo’s growth will be higher than the market in the main production regions and it will post a slight increase in operating margin (as a percentage of sales) compared with 2014.