“’MADE IN VALEO’ STANDS FOR BOLDNESS AND INNOVATION”
JACQUES ASCHENBROICH Chairman and Chief Executive Officer of Valeo
INTERVIEW WITH JACQUES ASCHENBROICH, CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF VALEO THINKING AND ACTING OUTSIDE THE BOX
In 2015, Valeo significantly outperformed the market worldwide. What drove this performance?
Jacques Aschenbroich – At Valeo we are obsessed by growth and profitability, for one simple reason: growth cannot be achieved without the profitability to finance it, in the same way that long-term profitability cannot be achieved without growth. Through a commitment to innovation and Research and Development, our product offering satisfies our customers’ demands in two areas that are undergoing major technological change: intuitive driving and CO2 emissions reduction. At our Investor Day in March 2015, we revealed that we had the potential to outperform the automotive market by five percentage points. We beat our expectations in 2015, growing by 11% in Europe, 8% in China and 31% in India, to give just three examples. Our overall growth of 14% (including a 7% exchange rate impact) was coupled with a sharp rise in profitability, reflected in a 22% increase in our operating margin, a 30% increase in net income and a 73% increase in free cash flow. This stellar performance is without doubt the result of the strategy launched in 2009 with Pascal Colombani, who was Chairman of the Board of Directors until he reached the age limit. I would like to take this opportunity to pay tribute to Pascal Colombani and all he has accomplished over the past seven years.