Consolidated sales up 3% to 4.9 billion euros in first-quarter 2018
Jacques Aschenbroich, Valeo’s Chairman and Chief Executive Officer, commented:
“In line with the medium-term growth plan presented in London in February 2017, Valeo’s organic growth will accelerate in 2018 and 2019, supported by our order intake, especially in the fields of vehicle electrification and intuitive driving.
Given the strong basis of comparison in 2017, when organic growth reached 13% in the first quarter, we recorded limited organic growth in first-quarter 2018, with reported growth coming in at 3%, and like-for-like growth at 1%. However, taking into account the acquisitions carried out in 2017, and at constant exchange rates, Valeo’s growth came to 8.5% for the period.
Moving forward, our organic growth will accelerate sharply over the rest of the year, to between 5% and 6% in the second quarter, and around 7% in the second half.”
For the sake of consistency, the figures are presented under the same accounting principles as in 2017 (i.e., before the application of IFRS 15). The impact of IFRS 15 (0.7% of sales) is presented on pages 6 and 7 of this document.
- Consolidated sales of 4,917 million euros, up 3% (up 1% on a like-for-like basis(1))
- Original equipment sales of 4,275 million euros, up 2% (up 1% on a like-for-like basis(1)):