VALEO JP Morgan
Automotive Conference
5th June 2023
INVESTOR RELATIONS
FULL YEAR 2022 GUIDANCE ACHIEVED ✓
FY 2022 RESULTS
FY 2022 GUIDANCE
Group Sales
€20,037m
Group Sales
€19.2-20bN
EBITDA
€2,401m
12.0%
EBITDA
11.8%-12.3%
Operating margin
€635m
3.2%
Operating margin
3.2%-3.7%
Free cash flow
€388m
Free cash flow
€320m
Higher than guidance
June Conference Deck | Investor Relations
2
2022 SALES & GROWTH
Total Sales
€20,037M
+16% reported basis
+9% like-for-like basis
OEM Sales
+10%
like-for-like growth
Aftermarket Sales
+9%
like-for-like growth
+3 pts performance*
+5 pts performance adjusted**
+32% | DRIVEN | +29% | DRIVEN |
BY ELECTRIFICATION | BY ADAS | ||
June Conference Deck | Investor Relations | * vs S&P Global Mobility estimates as of February 16th, 2023 | |
** sales adjusted as if HV powertrain activity had been integrated as of Jan 1st 2022 - See glossary page xx | 3 |
Q1 2023: SOLID START TO THE YEAR
Total Sales
€5,482m
+15% on a reported basis
+11% like-for-like adj. Basis*
OEM Sales
+13%
like-for-like adjusted growth*
Aftermarket Sales
+6%
like-for-like adjusted growth*
+69% | DRIVEN |
BY ELECTRIFICATION | |
+7 pts
performance** adjusted
Strong momentum maintained
+21% | DRIVEN |
BY ADAS | |
June Conference Deck | Investor Relations | * Sales adjusted as if HV powertrain activity had been integrated as of Jan 1st 2022 - See glossary, page xxx | |
** Based on S&P Global Mobility estimates as of April 18, 2023 | 4 |
VALEO IS ON TRACK IN H1 2023
EXPECTING TO POST SIGNIFICANT MARGIN IMPROVEMENT VS H1 2022
Inflation mitigation action plan on track | Stabilized S&P Global Mobility estimates |
Yearly production volumes in million of units |
Negotiations expected to be completed
01 by the end of June 2023, except for a couple of customers
02 Cost reduction plan on track
H1 2023 operating margin expected at around 3.2% of sales
- Showing significant improvement vs H1 2022 adjusted* profitability at 1.2% of sales
- Demonstrating that Valeo Siemens eAutomotive's integration is proceeding according to plan
- Giving us solid confidence in our FY 2023 guidance
Cash generation limited in H1 2023 given that ~€200m of inflation compensation booked in June to be cashed in July/August
June Conference Deck | Investor Relations | * adjusted as though HV powertrain activity had been consolidated as of Jan. 1, 2022 - see glossary page 16 5 |
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Valeo SA published this content on 05 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2023 09:27:06 UTC.
