For 2008, Valeo aims to further increase profitability in an environment of uncertain automotive markets and stabilised raw material prices. The reengineering plan for the Group's support functions will deployed on a wider scale. The rationalisation of the business portfolio will be pursued with discernment. The Group reaffirms its objectives for 2010 of an operating margin of 6% and a doubling of the return on capital employed compared with 2006.
Valeo is an independent industrial group dedicated to the design, production and sale of components, integrated systems and modules for cars and trucks. It is one of the world's leading automotive suppliers. The Group has 125 production sites, 62 R&D centres, 9 distribution platforms, and employs 61,200 people in 28 countries.
(1) Operating income before other income and expenses
(2) Net sales less cost of sales
(3) Non GAAP measure: operating income before other income and expenses
(4) Excluding capital gains and losses from the sale of non-strategic activities
(5) Number of defective parts per million parts delivered
(6) Non GAAP measure: cash flow less taxes less change in working capital requirements less financial expenses plus subsidies less gross tangible and intangible investments.
For all additional information, please contact:
Kate Philipps,
Group Communications Director,
Tel: +33-1-40-55-20-65
Rémy Dumoulin,
Investor Relations Director,
Tel: +33-1-40-55-29-30
For all additional information, please contact: Kate Philipps, Group Communications Director, Tel: +33-1-40-55-20-65. Rémy Dumoulin, Investor Relations Director, Tel: +33-1-40-55-29-30
