Valeo to review its medium-term targets in March

Article by Christian A., on December 12, 2010

Valeo SA, a French car parts supplier, says it would review its medium-term targets in March 2011 after a quicker-than-expected rebound in profitability. Valeo shares surged 3.7 percent to EUR44.84 at 10:20 CET. The Stoxx 600 European Autos Index increased 2.6 percent while the French CAC-40 index edged up 0.11 percent.

Suppliers and carmakers and suppliers are depending on brisk sales in Asia as European markets have slowed down when the scrappage schemes ended.

In March 2010, Valeo established a new strategic plan, saying it aimed for sales of EUR10 billion ($13.2 billion) by 2013 and return on capital invested of about 30 percent in the same time frame.

In October 2010, Valeo tapped its 2010 operating margin target higher and said it saw sales of about EUR9.4 billion for the full year 2010.

An analyst for Natixis, Michael Foundoukidis, says Valeo has been surprised by the much stronger growth than forecast in March.

At the Reuters Global Autos Summit in November 2010, Valeo CEO Jacques Aschenbroich said he did not exclude increasing medium-term targets. [via autonews - sub. required]

Topics: valeo

If you liked the article, share on:

Comments

Recommended

McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
While Honda’s new 2018 HR-V will be rolling out at the dealerships with just a few updates, the company is certainly not giving up its spot as the best-selling vehicle...
by - August 18, 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