PARIS — At an Investor Day event held March 9 in Paris, Valeo is presented its new medium-term guidance. The company said it intends to pursue and step up the strategy it presented in March 2010 and is setting new targets for 2015.
Based on the record EUR12.5 billion (about $17.5 billion) in order the company received last year, Valeo says it is confident in its ability to outperform automobile production by an average 3 percent per year over the 2011-2015 period. The company expects this growth as a result of innovation and new products – particularly to reduce CO2 emissions; as well as expansion in Asia and emerging markets.
Barring any external economic events impacting the industry, Valeo said now expects to achieve in 2015, through organic growth, sales of around EUR14 billion (approximately $19.5 billion), an operating margin rate* of more than 7 percent.
These results assume growth in global automotive output of around 5 percent per year over the 2011-2015 period, of which around 4.4 percent per year in Europe and Africa, 4.7 percent in North America, 5.3 percent in South America and 5.8 percent in Asia.
In addition, Valeo said it wants to play an active role in any potential industry consolidation, while maintaining a disciplined financial strategy aligned with its commitment to restoring its investment grade rating.
