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Sales Accelerate for Valeo
Valeo SA reports its adjusted sales growth accelerated to 13% and €4.2 billion ($4.6 billion) in the second quarter.
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Valeo SA reports its adjusted sales growth accelerated to 13% and €4.2 billion ($4.6 billion) in the second quarter. The French parts supplier credits growth to especially strong demand for its electronic driver assist and powertrain efficiency technologies.
Consolidated sales through the first half of 2016 rose 11% to €8.1 billion ($8.9 billion). New orders expanded 20% to nearly €13 billion.
Valeo’s net income climbed 23% to €422 million ($464 million). Free cash flow gained 11% to €339 million, and the company’s operating margin improved to 8% from 7.4% a year earlier.
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