Press release – Q1 2022 Sales
Solid performance in first-quarter 2022
- Sales of 4,753 million euros
- Outperformance of 5 percentage points excluding the impact of the geographic mix
- Strong growth in aftermarket sales, up 16% year on year on a like-for-like basis
- 2022 guidance confirmed
Christophe Périllat, Valeo’s Chief Executive Officer, said:
“Activity in the first quarter proved resilient, with an outperformance in all production regions, driven in particular by our activities in the areas of ADAS and the thermal management of electrified vehicles. Our aftermarket business posted double digit growth, buoyed by an attractive offering for customers as well as market momentum.
I would like to thank our teams for the exceptional quality of their work.
Based on the latest automotive production estimates, current levels of raw material and energy prices, constructive pricing discussions with our customers, and the operational efficiencies in our plants, we are able to confirm our 2022 financial objectives. However, we will continue to pay close attention to developments in the Covid-19 situation in China and their impacts on overall production volumes, particularly in the second quarter.
Valeo’s teams are fully engaged in implementing our Move Up plan as presented at our Investor Day on February 25, 2022.“