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Car parts maker Valeo sees lower core profit margin in 2022 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Valeo’s logo is pictured in Paris at the Viva Tech technology summit, Paris France May 25, 2018. REUTERS/Charles Platiau

(Reuters) – French auto parts manufacturer Valeo On Friday, PA: forecasted that its core profit margin would be between 11.8% to 12.3%, which is lower than last year. It also unveiled a strategy plan for the 2021-2025 period.

This group is a specialist in design, manufacturing and sales of automotive components and services. It reported a 13.4% margin in earnings before interest, taxes and amortization in 2021. This was in line with the company’s guidance.

However, it’s free cash flow was at 292million euros (327.6 million), which is below the previously stated target range of between 330 and 550 millions euros.

Valeo provided an updated medium-term outlook. It stated that it plans to grow its original equipment sales by approximately 13%, and outperform market prices by over 5% in the period 2021-2025. This was due to volume recovery.

($1 = 0.8920 euros)

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