Valeo Se · EURONEXT:FR
Valeo — Q1 2011 Earnings Presentation
18 slides from Valeo's earnings presentation, Apr 21, 2011
Slide 1: Q1-2011 Sales
Q1-2011 Sales Jacques ASCHENBROICH – CEO April 21, 2011
Slide 2: Q1 highlights
Q1 highlights Outperformance in all Business Groups and all regions Q1 sales Consolidated sales at €2,669 million up 15.6% year-on-year Consolidated sales up 14.3% like-for-like OE sales up 19.2% despite a 22% decline in OE sales in Japan OE sales up 17.4% like-for-like Another quarter of outperform
Slide 3: Automotive production
Automotive production Except Japan, global automotive production remaining high Light vehicles production* (million of vehicles) Q1-10 Q1-11 ▲ Europe & Africa 4.9 5.3 +8% Asia & others 9.6 9.5 -1% of which China 4.2 4.4 +7% of which Japan 2.4 1.7 -29% North America 2.9 3.3 +15% South America 0.9 1.0
Slide 4: Q1 2011 sales
Q1 2011 sales In euro million +15.6% +15.6% OEM : +19.2% Aftermarket : +2.8% 2,309 2,669 Perimeter -0.7% Currencies +2.0% Sales* +14.3% Q1-10 Q1-11 * At same perimeter & exchange rates April 21, 2011 I 4 Q1 2011 sales
Slide 5: OE and Aftermarket sales
OE and Aftermarket sales ▲ ▲ In euro million and YoY variation Q1-10/ Q1-10/ Q1-10 Q1-11 Q1-11 Q1-11* Original Equipment 1,898 2,263 +19.2% +17.4%* as % of sales 82% 85% Aftermarket 351 361 +2.8% +4.5%* as % of sales 15% 13% Miscellaneous 60 45 -25.0% -26.5%* as % of sales 3% 2% Sales 2,309 2,669 +1
Slide 6: OE sales per region vs automotive production
OE sales per region vs automotive production Above-market growth in all the regions (yoy change) Valeo* +17% Worldwide Production +5% Production +15%** Production +8%** +46%* +17%* North America Europe Production -1%** +5%* Production +9%** Asia +10%* South America Production +9%** +17%* Asia exclud
Slide 7: Asian OE sales vs automotive production
Asian OE sales vs automotive production (yoy change) Above-market growth in all the countries Production -1%* +5% Asia Production -29%* Production +9%* 18% of global sales +32% -22% Korea Japan Production +7%* 22% of Asian sales 25% of Asian sales +14% China Production +26%* 39% of Asian sales +57%
Slide 8: Geographical exposure
Geographical exposure Increasing position in NA driven by customer positioning, product mix and market share gains In % of OE sales (YoY) 63% 60% Europe Europe & Africa & Africa 7% 8% South South America America 11% 19% 14% 18% North Asia & North Asia & America others America others Q1-10 Q1-11 Apri
Slide 9: Customer breakdown
Customer breakdown Continued evolution of client exposure in % of OE sales (YoY) 27% 29% German German 26% 23% French* French* 9% 8% Others Others 15% 23% 17% 23% American Asian** American Asian** Q1-10 Q1-11 * Excluding Nissan ** Including Nissan April 21, 2011 I 9 Q1 2011 sales
Slide 10: OE sales by BG vs automotive production
OE sales by BG vs automotive production All BG outperforming the market (yoy change) Worldwide Production** +5% Comfort & Driving OE sales Powertrain OE sales In M€ In M€ Assistance +19%* +25%* Sales Sales +17%* +21%* 636 767 408 481 Q1-10 Q1-11 Q1-10 Q1-11 OE sales OE sales In M€ Thermal +11%* In M
Slide 11: Situation following the earthquake in Japan
Situation following the earthquake in Japan April 21, 2011 I 11 Q1 2011 sales
Slide 12: Situation following the earthquake in Japan
Situation following the earthquake in Japan Production -29%* -22% Japan 25% of Asian sales “Valeo does not expect global automotive production (except in Japan) to be seriously affected up until the end of May. Nevertheless, beyond that date, possible problems in the supply chain for electronic and
Slide 13: Contact 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 April 21, 2011 I 13 Q1 2011 sales
Slide 14: Share Information
Share Information Share Data Bloomberg Ticker FR FP Reuters Ticker VLOF.PA ISIN Number FR 000130338 Shares outstanding as per 31.03.2011 78,628,798 ADR Data Ticker/trading symbol VLEEY CUSIP Number 919134304 Exchange OTC Ratio (ADR: ord) 1:2 Depositary Bank J.P. Morgan April 21, 2011 I 14 Q1 2011 sa
Slide 15: Safe Harbor Statement
Safe Harbor Statement Statements contained in this report, which are not historical fact, constitute «Forward- Looking Statements.» Actual results may differ materially due to numerous important factors. Such factors include, among others, the cost and timing of implementing restructuring actions, t
Slide 16: Back-up
Back-up April 21, 2011 I 16 Q1 2011 sales
Slide 17: Quarterly information
Quarterly information in € million Sales by segments Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Comfort and Driving Assistance 408 440 418 438 481 Powertrain Systems 636 708 625 714 767 Thermal Systems 693 754 735 751 783 Visibility Systems 591 595 547 621 664 Total sales 2,309 2,478 2,342 2,503 2,669 OE & after
Slide 18: Automotive technology, naturally
Automotive technology, naturally