Valeo Se · EURONEXT:FR
Valeo — Q3 2012 Earnings Presentation
22 slides from Valeo's earnings presentation, Oct 18, 2012
Slide 1: Q3 2012 Sales
Q3 2012 Sales Jacques Aschenbroich – CEO October 18, 2012
Slide 2: Highlights
Highlights Q3 sales Consolidated sales up 7% to €2,842 million (+2% on a “like-for-like” basis) OE sales up 6% to €2,393 million (+1% on a “like-for-like” basis) Aftermarket sales up 6% to €357 million (-1% on a “like-for-like” basis) Year-to-date sales Consolidated sales up 11% to €8,841 million (+
Slide 3: Total sales
Total sales Up 7% in Q3 and up 11% YTD (in €m) +7% (in €m) 2,662 Perimeter +1.5% 2,842 Currencies +3.8% Sales at same perimeter and +1.5% exchange rate 2011 2012 +11% Q3 8,841 7,996 Perimeter +4.4% Currencies +3.0% Sales at same perimeter and +3.2% exchange rate 2011 2012 YTD October 18, 2012 I 3 Q3
Slide 4: OE sales
OE sales (in €m) +6% Up 6% in Q3 and up 11% YTD (in €m) 2,393 2,262 +11% Perimeter +0.9% Currencies +4.1% Sales at same perimeter and exchange +0.8% rate 2011 2012 Q3 7,511 6,772 Perimeter +4.2% Currencies +3.3% Sales at same perimeter and +3.4% exchange rate 2011 2012 YTD October 18, 2012 I 4 Q3 20
Slide 5: Aftermarket sales
Aftermarket sales Up 6% in Q3 and up 3% YTD (in €m) +6% 357 (in €m) Perimeter +5.2% Currencies +2.1% 336 Sales at same perimeter and exchange -0.9% rate 2011 Q3 2012 +3% 1,089 1,055 Perimeter +4.8% Currencies +1.6% Sales at same perimeter and -3.2% exchange rate 2011 2012 YTD October 18, 2012 I 5 Q3
Slide 6: Miscellaneous sales
Miscellaneous sales Up 43% YTD (in €m) +44% 92 (in €m) 64 Sales at same perimeter and exchange +44% rate 2011 Q3 2012 +43% 241 169 Sales at same perimeter and +40% exchange rate 2011 2012 YTD October 18, 2012 I 6 Q3 2012 Sales
Slide 7: Customer positioning
Customer positioning Leading positions for German & Asian customers at 29% each (in % of OE sales) Other Other 6% 9% German American American 18% German 18% 29% 29% French* French* 18% 21% Asian** Asian** 23% 29% 2011 At end-September 2012 * Excluding Nissan ** Including Nissan October 18, 2012 I 7
Slide 8: Geographical positioning
Geographical positioning Asia and emerging countries at 54% of sales, with Asia alone accounting for 26% OE sales by production region Europe < 50% in Q3 Eastern Eastern Europe & Europe & Africa Africa 15% 14 % Western Western Europe Europe 54% in Asia 38% 50% in Asia 44% Asia & emerging Asia & emer
Slide 9: Performance per region of production (at end-September)
Performance per region of production (at end-September) Performance better than the market in Asia and Europe Underperf. -5pts* World Outperf. OE sales +3% Underperf. +2pts* Production*** +8% -4pts* North America Europe Valeo OE sales** -2% Valeo OE sales** +16% Production*** -4% Production*** +20%
Slide 10: OE sales growth higher than the market in Asia (at end-September)
OE sales growth higher than the market in Asia (at end-September) Above-market growth in China, India and Korea, more than offsetting below- market growth in Japan Outperf. +2pts* Asia Valeo OE sales** +14% Production*** +12% Underperf. -24pts* Japan 25% of Valeo sales OE sales** +10% Outperf. Produ
Slide 11: Valeo OE sales vs light vehicle production
Valeo OE sales vs light vehicle production Recovery despite economic headwinds in Europe Japanese +13 OEMs downturn +7 +7 +10 +8 +2 +1 +5 0 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 0 -2 -3 -3 -3 -4 -4 -4 Japanese -10 OEMs -11 r
Slide 12: Organic growth in all the BGs (at end-September)
Organic growth in all the BGs (at end-September) despite economic headwinds in Europe % of YTD OE organic Total sales total sales growth growth • Stop-start (Valeo technological leader on this market) • Double dry clutch (Valeo Transmission no. 2 after LuK) Powertrain 28% +1% +8% • Lesser weighting
Slide 13: 2012 outlook
2012 outlook October 18, 2012 I 13 Q3 2012 Sales
Slide 14: FY 2012 outlook
FY 2012 outlook As things stand, confirmation of the market scenario disclosed during the H1 2012 results: Automotive production: World: +5% to 6% Europe: -6% to -7% Guidance confirmed FY 2012 operating margin level (in €m) in the same magnitude as FY 2011 October 18, 2012 I 14 Q3 2012 Sales
Slide 15: Business highlights
Business highlights October 18, 2012 I 15 Q3 2012 Sales
Slide 16: Focus on Valeo innovation at Paris Auto Show
Focus on Valeo innovation at Paris Auto Show Engine & Powertrain Control Unit Energy storage DC/DC converter Electric motor Inverter Up to 15% CO2 savings Half the savings of a classic Hybrid for a quarter of the price Improved driving comfort while accelerating Fit to target the “Mild-Hybrid” marke
Slide 17: Investor Relations
Contact Investor Relations Thierry Lacorre 43, rue Bayen F-75848 Paris Cedex 17 France Tel.: +33 (0) 1.40.55.37.93 Fax: +33 (0) 1.40.55.20.40 E-mail: thierry.lacorre@valeo.com Web site: www.valeo.com October 18, 2012 I 17 Q3 2012 Sales
Slide 18: Share Information
Share Information Share Data Bloomberg Ticker FR FP Reuters Ticker VLOF.PA ISIN Number FR 000130338 Shares outstanding as of Sept. 30, 2012 79,311,067 ADR Data Ticker/trading symbol VLEEY CUSIP Number 919134304 Exchange OTC Ratio (ADR: ord) 1:2 Depositary Bank J.P. Morgan Contact at J.P. Morgan – AD
Slide 19: Back-up
Back-up October 18, 2012 I 19 Q3 2012 Sales
Slide 20: Quarterly information
Quarterly information in €m Sales by segment Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Comfort & Driving 408 440 418 438 481 489 567 620 657 634 616 Assistance Powertrain Systems 636 708 625 714 767 782 743 834 855 826 783 Thermal Systems 693 754 735 751 783 776 777 804 864 8
Slide 21: Safe Harbor Statement
Safe Harbor Statement Statements contained in this report, which are not historical fact, constitute “Forward-Looking Statements”. Even though Valeo’s management feels that the Forward-Looking Statements are reasonable, investors are put on notice that actual results may differ materially due to num
Slide 22: Automotive technology, naturally
Automotive technology, naturally