Valeo hikes second-half earnings by 16% to EUR411 million

Article by Anita Panait, on February 23, 2014

Valeo posted a 16-percent surge in earnings before interest, taxes and other expenses in the second half of 2013 to EUR411 million ($563 million), thanks to higher demand for cars in China and North America as well as improvements in the European vehicle market. It exceeded the EUR375 million average of three analyst estimates surveyed by Bloomberg.

Valeo also logged a 3-percent rise in revenue EUR5.94 billion. Valeo is focusing on technology that promotes safety, comfort and pollution reduction to hike its profitability. The supplier was able to match a goal of a "slight increase" in 2013 earnings as a proportion of sales thanks to surging demand from German and Asian customers.

"Our strong cash generation and financial position will help us prepare for the expected sharp growth in sales, particularly in 2015 and 2016," chief executive Jacques Aschenbroich said in the statement. He expressed confidence that Valeo's strategy focused on innovation and on developing its businesses in fast-growing production regions will enable them to continue delivering margin growth that is in line with their medium-term financial objectives.

Valeo expects the European car market to surge between 1 percent and 2 percent this year. On the other hand, car industry association ACEA expects the European auto industry to grow 2 percent this year.

Topics: valeo, earnings

If you liked the article, share on:

Comments

Recommended

McLaren rejects the idea of creating anything other than a sports car. That means that vehicles that would be ideal for families such as an SUV or a crossover are...
by - April 25, 2017
The new and improved Opel Grandland X is out, and this large SUV is something the European market did not know they would need. Now measuring at 14.7 feet (4.48...
by - April 25, 2017
It seems like a never-ending battle between the 2017 Honda Civic Type R and the VW Golf GTI Clubsport S when it comes to owning the Nürburging record. This story...
by - April 25, 2017
Another day, another record. Is the new Dodge Challenger SRT Demon the fastest car to date? According to some sources, the Dodge Challenger SRT Demon had just beaten the Tesla...
by - April 24, 2017
Following in the footsteps of the McLaren 570S, 540C and 570GT is the newest addition to the McLaren Sports Series -- the roofless 570S Spider. McLaren 570S was rolled out...
by - April 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries