Slide 1: FY 2019 Results
FY 2019 RESULTS 2019 TARGETS ACHIEVED IN A TOUGH ENVIRONMENT
Slide 2: Agenda
AGENDA 2019 HIGHLIGHTS ACCELERATION OF OUTPERFORMANCE AND CASH GENERATION IN H2 H2 2019 & FY 2019 RESULTS FOCUS ON PROFIT & CASH GENERATION 2020 OUTLOOK IN LINE WITH OUR INVESTOR DAY TARGETS 2 February 20, 2020
Slide 3: Update on COVID-19 & China situation
UPDATE ON COVID-19 & CHINA SITUATION It is still too early to assess the impact of the COVID-19 outbreak in China on the automotive industry and on Valeo specifically. Valeo has taken every step to protect its employees and their families. All our 32 plants outside Hubei province have restarted, rep
Slide 4: Agenda
AGENDA 2019 HIGHLIGHTS ACCELERATION OF OUTPERFORMANCE AND CASH GENERATION IN H2 H2 2019 & FY 2019 RESULTS FOCUS ON PROFIT & CASH GENERATION 2020 OUTLOOK IN LINE WITH OUR INVESTOR DAY TARGETS 4 February 20, 2020
Slide 5: 2019 Highlights: results in line with the guidance with a strong acceleration in H2
2019 HIGHLIGHTS: RESULTS IN LINE WITH THE GUIDANCE WITH A STRONG ACCELERATION IN H2 Valeo’s 2019 results in line with the guidance as presented in October 2019 Strong and accelerating outperformance of the market at +8 points in H2 & +4 points in H1 High level of cash flow generation with €519M in 2
Slide 6: We are in line with our Investor Day trajectory
WE ARE IN LINE WITH OUR INVESTOR DAY TRAJECTORY #1 in EV & ADAS >€30bn backlog at end of 2019 2019 RESULTS ~5 points OEM sales outperformance 8 points outperformance in H2 <10.6% gross R&D expenditure 10.2% in H2 <6% R&D expenditure (net of R&D sales) 5.8% in H2 EBITDA* of 13.7% in H2 (+2.2pts yoy)
Slide 7: Benefiting from a successful transformation and our technological platforms
BENEFITING FROM A SUCCESSFUL TRANSFORMATION AND OUR TECHNOLOGICAL PLATFORMS SILVERADO 208 e208 FIT SOP 2019 SOP 2019 SOP 2019 New X1.6 X1.3 X2.9 gains GOLF 8 ID.3** SOP 2019 SOP 2019 We have invested in 12 new key technological platforms to create a unique product portfolio. X3.4 X4.5 Reinforcing ou
Slide 8: Outperformance is back on track thanks to start of production on new contracts
OUTPERFORMANCE IS BACK ON TRACK THANKS TO START OF PRODUCTION ON NEW CONTRACTS AND TECHNOLOGICAL PLATFORMS STRATEGY OEM SALES OUTPERFORMANCE (LIKE FOR LIKE) IN PERCENTAGE POINTS +9pts +8pts +6pts +5pts +4pts +3pts +2pts 0pts H1 16 H2 16 H1 17 H2 17 H1 18 H2 18 H1 19 H2 19 8 February 20, 2020
Slide 9: Strict control of cost and capex in 2019
STRICT CONTROL OF COST AND CAPEX IN 2019 €107M COST REDUCTION €204M IN CAPEX (5.9% OF SALES) 9 February 20, 2020
Slide 10: Profitability recovery since H2 18: EBITDA
PROFITABILITY RECOVERY SINCE H2 18 IN LINE WITH EXPECTATIONS DESPITE A 6% DROP IN AUTOMOTIVE PRODUCTION IN 2019 EBITDA AS A % OF SALES 13.7% 13.6% 12.6% +2.2pts 11.5% H1 18 H2 18 H1 19* H2 19* 12.6% in 2018 +0.6pts 13.2% in 2019 10 February 20, 2020
Slide 11: Profitability recovery since H2 18: operating margin
PROFITABILITY RECOVERY SINCE H2 18 IN LINE WITH EXPECTATIONS DESPITE A 6% DROP IN AUTOMOTIVE PRODUCTION IN 2019 OPERATING MARGIN* AS A % OF SALES 7.7% 6.1% 5.5% 4.8% +1.3pts H1 18 H2 18 H1 19** H2 19** * Excl. JV & associates 11 February 20, 2020
Slide 12: Valeo Siemens eAutomotive: the emergence of a leader
VALEO SIEMENS eAUTOMOTIVE THE EMERGENCE OF A LEADER VSeA SALES (€BN) >2.0 ‣ Peak of Valeo Siemens eAutomotive’s losses in 2019 ‣ Strong decrease of R&D as of 2021 >1.4 ‣ 8% EBITDA in 2022 & 12% EBITDA in 2024 ‣ Free cash flow breakeven in 2022 0.3 ‣ Ongoing negotiation on new projects and renewals 2
Slide 13: €519M free cash flow
€519M FREE CASH FLOW STRONG FOCUS ON CASH GENERATION FREE CASH FLOW IN €M 282 237 125 36 H1 18 H2 18 H1 19 H2 19 13 €161M in 2018 €519M in 2019 February 20, 2020
Slide 14: Earning per share excluding non-recurring items
EARNING PER SHARE EARNING PER SHARE EXCLUDING NON-RECURRING ITEMS €1.86 14 February 20, 2020
Slide 15: Strong free cash flow generation supporting dividend policy
STRONG FREE CASH FLOW GENERATION SUPPORTING DIVIDEND POLICY DIVIDEND OF €1.25 PER SHARE TO BE PROPOSED AT THE NEXT AGM IN MAY 2020 15 February 20, 2020
Slide 16: Sustainability at the heart of our strategy
SUSTAINABILITY AT THE HEART OF OUR STRATEGY GREENER & SAFER MOBILITY * AT THE HEART OF OUR STRATEGY #1 IN 2020 : ‣ NEW MID TERM SUSTAINABLE GREENER (57%) 2019 SAFER #1 TARGETS OEM ‣ LONG TERM CARBON NEUTRALITY (36%) Sales** #1 PROGRAM #1* * excl. Tyre companies ** incl. VSeA 16 February 20, 2020
Slide 17: Agenda
AGENDA 2019 HIGHLIGHTS ACCELERATION OF OUTPERFORMANCE AND CASH GENERATION IN H2 H2 2019 & FY 2019 RESULTS FOCUS ON PROFIT & CASH GENERATION 2020 OUTLOOK IN LINE WITH OUR INVESTOR DAY TARGETS 17 February 20, 2020
Slide 18: H2 sales: total sales of €9.6bn
8PTS OUTPERFORMANCE STRONG ACCELERATION IN H2 H2 2019 H2 SALES TOTAL SALES* OF €9.6bn: UP 4% AS REPORTED UP 3% LIKE FOR LIKE OEM SALES: 8PTS OUTPERFORMANCE UP 3% AS REPORTED AND LIKE FOR LIKE AFTERMARKET SALES: UP 1% AS REPORTED STABLE LIKE FOR LIKE * excl. TCM 18 February 20, 2020
Slide 19: 8pts outperformance, strong acceleration in H2
8PTS OUTPERFORMANCE STRONG ACCELERATION IN H2 H2 2019 8 pts outperformance 579 976 €m 9 588 8,033 OEM* Aftermarket* Miscellaneous* Sales* Reported +3% +1% +11% +4% Like for like +3% 0% +9% +3% Exchange rates +1.7% Exchange rates +1.7% Exchange rates +1.3% Exchange rates +1.6% * excl. TCM Scope -1.3%
Slide 20: Acceleration of OEM sales outperformance across all regions
ACCELERATION OF OEM SALES OUTPERFORMANCE ACROSS ALL REGIONS H2 Like for like OEM OEM 2019 45% of Valeo sales(2) sales(2) sales(2) +3% OEM +5% 20% of Valeo sales(2) sales(2) Europe (1) World +5% North NorthAmerica America OEM sales** +6% Outperformance Production*** +4% +9pts vs IHS(3) Outperformance
Slide 21: Acceleration of outperformance in every business in H2
ACCELERATION OF OUTPERFORMANCE IN EVERY BUSINESS IN H2 H2 2019 Outperformance +9pts +9pts +4pts +10pts CDA VIS 19% 31% Group 3,000 €9.6bn* H2 total sales 2,556 PTS In €m 1,843 2,252 27% THS 23% % of H2 19 sales Comfort & Driving Powertrain Thermal Visibility Assistance* Total reported sales -1% +3%
Slide 22: Order intake / OEM sales ratio at 1.34
ORDER INTAKE / OEM SALES RATIO AT 1.34 FY 2019 VALEO ORDER INTAKE OF €22bn WITH AN INNOVATION* RATIO OF 47% VALEO SIEMENS EAUTOMOTIVE OF €0.8bn * Products and technologies sold by less than 3 years incl. Valeo Siemens eAutomotive 22 February 20, 2020
Slide 23: Order intake / OEM sales ratio at 1.34
ORDER INTAKE / OEM SALES RATIO AT 1.34 FY Order intake of €22bn 2019 OEM sales of €16.4bn SA 18% SA 2% 20% Order 4% Asia intake/OEM Asia NA excl. NA €3.2bn China Asia sales ratio excl. 19% 32% Asia 1.5x €4bn China €5.3bn Of which China 1.6x 19% Asia China 31% Europe 1.3x 35% 13% with local North Ame
Slide 24: 6pts outperformance
6PTS OUTPERFORMANCE STRONG ACCELERATION IN 2019 FY 2019 2019 SALES TOTAL SALES* OF €19.2bn: UP 1% AS REPORTED STABLE LIKE FOR LIKE OEM SALES: 6PTS OUTPERFORMANCE STABLE AS REPORTED AND LIKE FOR LIKE AFTERMARKET SALES: DOWN 2% AS REPORTED DOWN 2% LIKE FOR LIKE * excl. TCM 24 February 20, 2020
Slide 25: 6pts outperformance in a difficult environment
6PTS OUTPERFORMANCE IN A DIFFICULT ENVIRONMENT WITH PRODUCTION DOWN 6% FY 2019 20 000 6 pts 1,150 outperformance 18 000 1,972 16 000 14 000 12 000 €m10 000 19 244 8 000 16,122 6 000 4 000 2 000 0 OEM* Aftermarket* Miscellaneous* Sales* Reported 0% -2% +19% +1% Like for like 0% -2% +15% 0% Exchange r
Slide 26: 6pts OEM sales outperformance
6PTS OEM SALES OUTPERFORMANCE FY Like for like OEM 2019 47% of Valeo sales(2) sales(2) OEM OEM +1% sales(2) 20% of Valeo sales(2) sales(2) Europe (1) 0% +5% North NorthAmerica America World OEM sales** +6% Outperformance Production*** +4% +5pts vs IHS(3) Outperformance Outperformance +9pts vs IHS(3)
Slide 27: Balanced geographic positioning
BALANCED GEOGRAPHIC POSITIONING FY OEM sales by production region 2019 % of OEM sales Eastern Eastern Europe & Europe & Africa Africa 16% 15% Western Western Europe Europe Asia excl. 32% Asia excl. 32% China China 59% in Asia 18% 58% in Asia 18% & emerging & emerging countries countries US China US
Slide 28: Balanced customer portfolio
BALANCED CUSTOMER PORTFOLIO FY 2019 % of OEM sales Other Other 6% 6% French French 13% German 13% German 30% 30% American American 18% 18% A Asian sian** Asian sian** A 26%33% 26%33% 2018 2019 28 February 20, 2020
Slide 29: Every business group is outperforming the market
EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET FY 2019 Outperformance +8pts +6pts +3pts +6pts CDA VIS 19% 31% 6,014 Group 2019 total sales 5,121 €19.2bn* 3,649 4,582 PTS In €m 26% THS 24% Comfort & Driving Powertrain Thermal Visibility % of 2019 sales Assistance* Total reported sales -3% 0% 0% +4%
Slide 30: Strict control of R&D, SG&A and capex
STRICT CONTROL OF R&D, SG&A AND CAPEX FY 2019 €107M COST REDUCTION €204M IN CAPEX (5.9% OF SALES) 30 February 20, 2020
Slide 31: Decrease in R&D expenses to 7.8% of sales (H2)
DECREASE IN R&D EXPENSES THANKS TO LEVERAGING OF OUR TECHNOLOGICAL PLATFORMS TO 7.8% OF SALES, DOWN 0.7PTS H2 2019 Capitalized development In €m and as a % of sales expenditure In €m and as a % of sales Gap between 369 362 capitalized R&D and amortization 786 -5% down 0.7 points 750 from 2.2% to 1.5
Slide 32: Decrease in R&D expenses to 7.9% of sales (FY)
DECREASE IN R&D EXPENSES THANKS TO LEVERAGING OF OUR TECHNOLOGICAL PLATFORMS TO 7.9% OF SALES, DOWN 0.3PTS FY 2019 Capitalized development In €m and as a % of sales expenditure In €m and as a % of sales Gap between 716 753 capitalized R&D and amortization 1,560 -2% 1,526 down 0.3 points 3.7% 3.9% fr
Slide 33: Decrease in SG&A down 0.5pts to 4.3% of sales (H2)
DECREASE IN SG&A DOWN 0.5PTS TO 4.3% OF SALES H2 In €m and as a % of sales 2019 442 410 -7% Selling Selling expenses 4.8% €158m expenses €147m -50bps 4.3% Selling expenses Selling Admin. Admin. 1.7% expenses expenses expenses 1.5% €284m €263m H2 18 H2 19* Admin. Admin. expenses -30bps expenses 3.1%
Slide 34: Decrease in SG&A down 0.5pts to 4.3% of sales (FY)
DECREASE IN SG&A DOWN 0.5PTS TO 4.3% OF SALES FY In €m and as a % of sales 2019 911 -6% 860 Selling Selling expenses expenses €316m 4.8% -30bps €301m 4.5% Selling Selling expenses expenses Admin. Admin. 1.7% 1.6% expenses expenses €595m €559m 2018 2019* Admin. Admin. expenses -20bps expenses 3.1% 2.
Slide 35: Capex down €160M thanks to technological platforms
CAPEX* DOWN €160M THANKS TO TECHNOLOGICAL PLATFORMS H2 In €m and as a % of sales 2019 €(160)m -190bps 7.5% 5.6% H2 18 H2 19 -23% 696 536 H2 18 H2 19 * Excl. capitalized R&D 35 February 20, 2020
Slide 36: Capex down €204M thanks to technological platforms
CAPEX* DOWN €204M THANKS TO TECHNOLOGICAL PLATFORMS FY In €m and as a % of sales 2019 €(204)m -110bps 7.0% 5.9% 2018 2019 -15% 1,337 1,133 2018 2019 * Excl. capitalized R&D 36 February 20, 2020
Slide 37: Guidance achieved thanks to cost reduction plan and technological platforms
IN A CHALLENGING ENVIRONMENT, GUIDANCE ACHIEVED THANKS TO COST REDUCTION PLAN AND TECHNOLOGICAL PLATFORMS FY 2019 EBITDA* IN LINE WITH GUIDANCE AT €2,551M OR 13.2% OF SALES OPERATING MARGIN* (EXCL. JV & ASSOCIATES) IN LINE WITH GUIDANCE AT €1,114M OR 5.8% OF SALES JV & ASSOCIATES OF €(237)M NET INCO
Slide 38: EBITDA of 2,551M, 13.2% of sales
EBITDA* OF 2,551M 13.2% OF SALES, UP 0.6PTS FY 2019 EBITDA AS A % OF SALES 13.7% 13.6% 12.6% +2.2pts 11.5% H1 18 H2 18 H1 19* H2 19* 12.6% in 2018 +0.6pts 13.2% in 2019 38 February 20, 2020
Slide 39: Operating margin walk-down
OPERATING MARGIN* WALK-DOWN H2 2019 FY 2019 * Excl. JV & associates ** Excl. TCM NB: rounded figures 39 GUIDANCE ACHIEVED DESPITE SHARPER DECLINE IN AUTOMOTIVE PRODUCTION February 20, 2020
Slide 40: 2019 operating margin at 5.5% of sales
2019 OPERATING MARGIN* AT 5.5% OF SALES 5.8% OF SALES EXCL. GM STRIKE H2 18 H2 19** 2018 2019** Total sales (€m) 9,261 9,588 +4% 19,124 19,244 +1% Gross margin 1,676 1,697 +1% 3,674 3,450 -6% As a % of sales 18.1% 17.7% -40bps 19.2% 17.9% -130bps R&D expenditure (786) (750) -5% (1,560) (1,526) -2% A
Slide 41: 2019 net income of €313M or 1.6% of sales
2019 NET INCOME OF €313M OR 1.6% OF SALES H2 18 H2 19 2018 2019 Total sales (€m) 9,261 9,701 +5% 19,124 19,477 +2% Operating margin incl. JV & associates 365 390 +7% 1,092 797 -27% As a % of sales 3.9% 4.0% +10bps 5.7% 4.1% -160bps Other income & expenses (38) (35) -8% (56) (65) +16% As a % of sales
Slide 42: Excluding non-recurring items EPS of €1.86
EXCLUDING NON-RECURRING ITEMS EPS OF €1.86 FY 2019 2019 Net income* (€m) 313 EPS* €1.31 Net income* (€m) (excluding non-recurring items) 444 EPS* (excluding non-recurring items) €1.86 * Excl. Impact of GM strike and TCM 42 February 20, 2020
Slide 43: €519M free cash flow
IN A CHALLENGING ENVIRONMENT, THANKS TO COST REDUCTION AND TECHNOLOGICAL PLATFORMS LEVERAGE FY 2019 €519M FREE CASH FLOW 43 February 20, 2020
Slide 44: €519M in free cash flow
€519M IN FREE CASH FLOW 2018 2019 EBITDA (€m) 2,410 2,496 Decrease in tooling inventories Change in operating working capital* (22) 301 Decrease in customers overdues Restructuring & social costs (31) (37) Other operating items (incl. taxes) (280) (475) Of which: Taxes (267) (292) Pensions (35)
Slide 45: Balance sheet remains strong, net debt €2,817M
THANKS TO FREE CASH FLOW OF €519M, BALANCE SHEET REMAINS STRONG NET DEBT OF €2,817M AFTER IFRS 16 OF +€441M 45 February 20, 2020
Slide 46: Balance sheet remains strong
THANKS TO FREE CASH FLOW OF €519M, BALANCE SHEET REMAINS STRONG Net debt to EBITDA Shareholders’ equity and net debt 2,877 2,817 IFRS 16 IFRS 16 2,877 2,817 IFRS IFRS 2,248 4,571 2,435 4,475 2,376 4,629 Dec 31, June 30, Dec 31, 2018 2019 2019 Gearing Gearing Gearing Gearing Gearing 49% 64% 51% 61% 2
Slide 47: Valeo's debt maturity profile 2021/2026
VALEO’S DEBT MATURITY PROFILE COMFORTABLY SPREAD OVER THE PERIOD 2021/2026 3500 Outstanding Maturity Coupon amount Non-dilutive USD 575m June 2021 0% 3000 Convertible bond (€470m) EMTN Sept. 2022 €600m 0.375% EMTN January 2023 €500m 0.625% 2500 Undrawn credit lines Schuldschein April 2023 € 336m Eur
Slide 48: 2019 Dividend
2019 DIVIDEND 48 February 20, 2020
Slide 49: Strong free cash flow generation supporting our dividend policy
STRONG FREE CASH FLOW GENERATION SUPPORTING OUR DIVIDEND POLICY 1,25 1,25 1,25 1,25 Dividend (€/share) 1,00 0,73 0,57 0,47 0,50 0,40 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 €1.25/SHARE DIVIDEND TO BE PROPOSED AT THE NEXT AGM IN MAY 2020 49 February 20, 2020
Slide 50: Agenda
AGENDA 2019 HIGHLIGHTS ACCELERATION OF OUTPERFORMANCE AND CASH GENERATION IN H2 H2 2019 & FY 2019 RESULTS FOCUS ON PROFIT & CASH GENERATION 2020 OUTLOOK IN LINE WITH OUR INVESTOR DAY TARGETS 50 February 20, 2020
Slide 51: 2020 Outlook
2020 OUTLOOK Valeo expects automotive production to be down by 2% in 2020. Excluding the possible impact of the coronavirus in China, the Group has set the following objectives for 2020 in line with the objectives presented at the Investor Day on December 10, 2019: outperformance of more than 5 pe
Slide 52: In line with our Investor Day targets
IN LINE WITH OUR INVESTOR DAY TARGETS 2019 2022 SALES (€bn) 19.2 >21.5 EBITDA 13.2% >15% OPERATING MARGIN BEFORE JV 5.8%** ~ 7% CASH CONVERSION RATE (% EBITDA) 21% >15% FREE CASH FLOW €519M €1.3-1.5bn over 2020/2022 * estimated 2019 ** after one off effect linked to october 2019 GM strike in North A
Slide 53: ALINIGOW YILYVWS AOI ADOTONHIAL LYUVWS
ALINIGOW YILYVWS AOI ADOTONHIAL LYUVWS
Slide 54: Back-up
BACK-UP SMART TECHNOLOGY FOR SMARTER MOBILITY
Slide 55: Back-up agenda
BACK-UP AGENDA Q4 SALES 7 POINTS OEM SALES OUTPERFORMANCE 2019 RESULTS RECONCILIATION TOP COLUMN MODULE BUSINESS & GM STRIKE IMPACT BUSINESS GROUP INFORMATION EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET 55 February 20, 2020
Slide 56: Back-up agenda
BACK-UP AGENDA Q4 SALES 7 POINTS OEM SALES OUTPERFORMANCE 2019 RESULTS RECONCILIATION TOP COLUMN MODULE BUSINESS & GM STRIKE IMPACT BUSINESS GROUP INFORMATION EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET 56 February 20, 2020
Slide 57: Q4: 7 points OEM sales outperformance
7 POINTS OEM SALES OUTPERFORMANCE Q4 7 pts 2019 outperformance 316 504 4 860 €m 4,040 OEM* Aftermarket* Miscellaneous* Sales* Reported +1% +4% -10% +1% Like for like +1% +3% -7% +1% Exchange rates +1.3% Exchange rates +1.3% Exchange rates +1.3% Exchange rates +1.3% * Excl. TCM Scope -1.2% Scope -0.6
Slide 58: Q4: 7 points OEM sales outperformance by region
7 POINTS OEM SALES OUTPERFORMANCE Q4 OEM Like for like sales(2) 2019 OEM +1% 46% of Valeo sales(2) sales(2) OEM +4% World 18% of Valeo sales(2) sales(2) Europe (1) -4% North NorthAmerica America OEM sales** +6% Outperformance Outperformance Production*** +4% +11pts vs IHS(3) +7pts vs IHS(3) Outperfo
Slide 59: In Q4, every business group is outperforming the market
IN Q4, EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET Q4 2019 Outperformance +9pts +9pts +3pts +8pts CDA VIS 19% 32% Group €4.9bn* 1,542 Q4 total sales 1,307 PTS In €m 1,122 27% 908 THS 23% Comfort & Driving Powertrain Thermal Visibility % of Q4 19 sales Assistance* Total reported sales -6% +2% -3
Slide 60: Back-up agenda
BACK-UP AGENDA Q4 SALES 7 POINTS OEM SALES OUTPERFORMANCE 2019 RESULTS RECONCILIATION TOP COLUMN MODULE BUSINESS & GM STRIKE IMPACT BUSINESS GROUP INFORMATION EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET 60 February 20, 2020
Slide 61: Reconciliation of Valeo and Top Column Module business data and GM strike impact
RECONCILIATION OF VALEO AND TOP COLUMN MODULE (TCM) BUSINESS DATA AND IMPACT OF THE GENERAL MOTORS STRIKE FY 2019 The Group decided to withdraw from the TCM segment and is no longer taking orders for this product line. The table below reconciles reported data for 2019 with data excluding the TCM bus
Slide 62: Back-up agenda
BACK-UP AGENDA Q4 SALES 7 POINTS OEM SALES OUTPERFORMANCE 2019 RESULTS RECONCILIATION TOP COLUMN MODULE BUSINESS & GM STRIKE IMPACT BUSINESS GROUP INFORMATION EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET 62 February 20, 2020
Slide 63: Comfort & Driving Assistance
COMFORT & DRIVING ASSISTANCE Outperformance +6pts +9pts +8pts OEM sales growth Market share* and competitors: 2019 key figures: Like for like -1% +4% +2% - Comfort & Driving Assistance: • Sales: €3.6bn (19% of Group sales) Valeo no. 2 • 22,100 employees 1,843 Continental + Valeo + Bosch + Kostal ~ 4
Slide 64: Powertrain Systems
POWERTRAIN SYSTEMS Outperformance +3pts +9pts +6pts OEM sales growth 2019 key figures: Like for like -4% +4% 0% Market share* and competitors: • Sales: €5.1bn (26% of Group sales) - Powertrain Systems: Valeo no. 1 2,556 Valeo & VSeA + BlueNexus & Denso + Luk ~40%* • 23,500 employees Total sales • 57
Slide 65: Thermal Systems
THERMAL SYSTEMS Outperformance +4pts +4pts +3pts Market share* and competitors: 2019 key figures: OEM sales growth Like for like -3% -1% -3% Thermal Systems: Valeo no. 2 • Sales: €4.6bn (24% of Group sales) Denso + Valeo + Hanon + Mahle ~ 59%* • 25,100 employees • 68 plants 2,252 • 10 development ce
Slide 66: Visibility Systems
VISIBILITY SYSTEMS Outperformance +4pts +10pts +6pts OEM sales growth Market share* and competitors: 2019 key figures: Like for like -4% +5% 0% - Lighting Systems: Valeo no. 1 • Sales: €6.0bn (31% of Group sales) Valeo + Koito + AL Magnetti Marelli ~ 53%* • 38,900 employees 3,000 • 51 plants 6,014 -
Slide 67: Segment information
SEGMENT INFORMATION 2019 Comfort & Driving Assistance Powertrain Thermal Visibility (€m) Systems Systems Systems Systems Others Total Sales: ● segment (excluding Group) 3,877 4,998 4,516 5,923 167 19,477 ● intersegment (Group) 28 123 66 91 (308) EBITDA 594 685 502 660 55 2,496 Research & Development
Slide 68: Glossary
GLOSSARY Order intake corresponds to business awarded by automakers during the period to Valeo, and to joint ventures and associates based on Valeo’s share in net equity, (except Valeo Siemens eAutomotive, for which 100% of orders are taken into account), less any cancellations, based on Valeo’s bes
Slide 69: Contacts
INVESTOR RELATIONS VALEO 43, rue Bayen F-75848 Paris Cedex 17 France Thierry Lacorre E-mail: valeo.corporateaccess.mailbox@valeo.com Website: www.valeo.com CONTACTS
Slide 70: Share information
SHARE INFORMATION Share Data • Bloomberg Ticker FR FP • Reuters Ticker VLOF.PA • ISIN Number FR 0013176526 • Shares outstanding as of December 31, 2019 241,036,743 ADR Data • Ticker/trading symbol VLEEY • CUSIP Number 919134304 • Exchange OTC • Ratio (ADR: ord) 1:2 • Depositary Bank J.P. Morgan • Co
Slide 71: Safe harbor statement
SAFE HARBOR STATEMENT Statements contained in this document, which are not historical fact, constitute “forward-looking statements”. These statements include projections and estimates and their underlying assumptions, statements regarding projects, objectives, intentions and expectations with respec
Slide 72: ALINIGOW YILYVWS AOI ADOTONHIAL LYUVWS
ALINIGOW YILYVWS AOI ADOTONHIAL LYUVWS