(Boursier.com) — In the 1st quarter of 2022, in a context of automotive production down 4% compared to the same period in 2021, the automotive supplier Valeo generated consolidated revenue of 4.753 billion euros, stable compared to 2021. Changes in exchange rates had a positive impact of 2.5% mainly due to the depreciation of the euro against the US dollar and Chinese yuan. Changes in scope had a negative impact of 0.4% over the period.
Original equipment sales fell 3% at constant scope and exchange rates, due to the decline in automotive production. Valeo announces that its activity is disrupted by the difficulties in supplying electronic components as well as by the Russian-Ukrainian crisis and the containment measures in China, penalizing the supply chain and the production schedules of car manufacturers.
Revenue from the replacement market, on the other hand, posted a strong increase of 16% at constant scope and exchange rates.
The latest automotive production estimates, current raw material and energy price levels, the constructive momentum of pricing discussions with customers and the operational efficiencies seen in the plants allow Valeo to confirm its financial objectives. 2022: between 19.2 and 20 billion euros in turnover with an operating margin of between 3.2% and 3.7%.
Valeo nevertheless says that it remains very attentive to the evolution of the health situation in China and its consequences on the overall level of production volumes, particularly in the 2nd quarter.
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