PARIS (Agefi-Dow Jones)–Valeo does not intend to reduce its stocks of semiconductors immediately, said Friday the general manager of the automotive supplier, Christophe Périllat.
“Semiconductor shortages are easing globally, but there are still severe bottlenecks. The time is not yet ripe for a sharp reduction in inventory,” he said during the meeting. presentation of the group’s new strategic plan for 2025.
Valeo had increased its inventories of electronic components from the start of 2021, which enabled it to continue to supply its customers despite the shortage of semiconductors which hampered automotive production for most of the year. elapsed.
“Our stocks have gone up, we need to get them back to where they were before. That won’t happen for several months, and probably more in the second half. [de cette année, NDLR] than the first”, added Christophe Périllat.
The leader also said that the current conflict in Ukraine could have consequences on the prices of certain key raw materials for the automotive industry, such as steel, aluminum and resins. Valeo could be temporarily affected by a rise in prices, insofar as several quarters may pass between these increases and the repercussion on the prices of the products sold by the group, he indicated.
The direct impact of the conflict on the group’s activity is, however, minimal. Valeo has no factory in Ukraine and its activities in Russia represent less than 1% of turnover, underlined Christophe Périllat.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: JXM
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February 25, 2022 08:03 ET (13:03 GMT)