Valeo Se · EURONEXT:FR
Valeo — Q1 2016 Earnings Presentation
26 slides from Valeo's earnings presentation, Apr 26, 2016
Slide 1: Q1 2016 Sales
Q1 2016 Sales Jacques Aschenbroich Chairman and CEO April 26, 2016 April 26, 2016 I 1
Slide 2: Highlights
Highlights +10% like-for-like(1) Sales of €3,917m +9.4% as reported +10% like-for-like(1) OEM sales of €3.4bn +10% as reported OEM sales outperformance Growth(1) Outperformance(2) Growth World +10% +9pts accelerating Europe +11% +10pts China +13% +9pts Asia (excluding China) +9% +10pts North America
Slide 3: 2016 outlook
2016 outlook Based on the following key assumptions for full-year 2016: Automotive production growth: World: around 2.5% Europe: around 2% China: around 5% North America: around 2% Raw material prices and exchange rates in line with current levels Valeo confirms its objectives for 2016: Strong sales
Slide 4: Growth accelerating
Growth accelerating Sales of €3,917m, up 10% like-for-like up 9.4% as reported OEM sales, up 10% like-for like, 9-point outperformance up 10% as reported Aftermarket sales, up 6% like-for-like up 3% as reported April 26, 2016 I 4
Slide 5: Total sales growth accelerated as compared to 2015
Total sales growth accelerated as compared to 2015 Like-for-like +10% +6% +3% +10% 69 411 €m 3,917 3,437 OEM Aftermarket Miscellaneous Total sales Reported +10% +3% +2% +9% Q1 2015 3,113 Q1 2015 400 Q1 2015 68 Q1 2015 3,581 Exchange rates -0.8% Exchange rates -3.0% Exchange rates -1.4% Exchange rate
Slide 6: OEM sales accelerated in all production regions
OEM sales accelerated in all production regions outperforming the global market by 9 percentage points OEM Q1 sales** Like-for-like +10% OEM World 49% of Valeo sales**** Production***+1% sales** OEM Europe* +11% 22% of Valeo sales**** sales** Outperf. +9pts Production*** +1% +11% North America Outpe
Slide 7: OEM sales accelerated in all Asian countries
OEM sales accelerated in all Asian countries Q1 Like-for-like OEM 27% of total sales*** sales* OEM 17% of Asian sales*** sales* +11% +0% Asia Japan Production** +1% Production** -2% OEM 21% of Asian sales*** sales* Outperf. +10pts +24% Outperf. +2pts Korea Production** -4% Outperf. +28pts OEM 55% of
Slide 8: Balanced geographic positioning
Balanced geographic positioning Asia and emerging markets account for 53% of OEM sales % of OEM sales by production region Eastern Eastern Europe & Europe & Africa Africa 15% 16% Western Western Europe Europe 35% 35% 54% in Asia 53% in Asia & emerging Asia & emerging 26% Asia countries countries 26%
Slide 9: Balanced customer portfolio
Balanced customer portfolio % of OEM sales Other Other 6% 5% French* French* 16% 17% German German 29% 30% American American 23% 23% Asian** Asian** Asian** 25% 26% 26% Q1 2015 Q1 2016 * Excluding Nissan ** Including Nissan April 26, 2016 I 9
Slide 10: Strong growth in Comfort & Driving Assistance and Visibility
Strong growth in Comfort & Driving Assistance and Visibility Above-market performance in Powertrain and Thermal CDA VIS 20% 28% Group €3.9bn OEM sales growth +17% +6% +7% +13% PTS 25% like-for-like THS 27% % Q1 2016 total sales Total sales In €m Comfort & Driving Powertrain Thermal Visibility Assist
Slide 11: 2016 outlook
2016 outlook April 26, 2016 I 11
Slide 12: 2016 outlook
2016 outlook Based on the following key assumptions for full-year 2016: Automotive production growth: World: around 2.5% Europe: around 2% China: around 5% North America: around 2% Raw material prices and exchange rates in line with current levels Valeo confirms its objectives for 2016: Strong sales
Slide 13: Valeo Siemens joint venture
Valeo Siemens joint venture April 26, 2016 I 13
Slide 14: Valeo and Siemens are complementary
Valeo and Siemens are complementary Power converters and inverters Battery Charger Electric motor Lithium-ion battery April 26, 2016 I 14
Slide 15: Valeo activities for electric and hybrid vehicles
Valeo activites for electric and hybrid vehicles Valeo develops high voltage power electronics (300V+): Battery charger Inverter (BMW PHEV, Volvo XC90) inverters to control electrical (Renault Zoe) machines, embedded battery chargers, voltage converters, DCDC converter and a high- (GM) voltage gener
Slide 16: Footprints & Reference Personnel Figures (by 31/12/2015)
Footprints & Reference Personnel Figures (by 31/12/2015) Valeo PEL High voltage (205 employees) France – Cergy: 89 China – Shenzhen: 36 Hungary – Vezprem: 37 Total: Norway – Drammen: 20 701 employees Poland – Czechowice: 16 Germany – Frankfurt: 7 Siemens E-car Business (496 employees) Germany – Erla
Slide 17: 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 E-mail: thierry.lacorre@valeo.com Website: www.valeo.com April 26, 2016 I 17
Slide 18: Share information
Share information Share data Bloomberg Ticker FR FP Reuters Ticker VLOF.PA ISIN Number FR 000130338 Shares outstanding as of March 31, 2016 79,462,540 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 - Valeo Tn ‘p26, 2016 19 ,
Slide 20: Comfort & Driving Assistance Systems
Comfort & Driving Assistance Systems 2015 key figures: • Sales: €2.7bn (18% of Group sales) Sales performance • EBITDA: 14.5% (21% of Group EBITDA) OEM sales • 15,300 employees Like-for-like +13% +13% +12% +15% +17% • 26 production units change • 8 development centers • 9 research centers 794 Market
Slide 21: Powertrain Systems
Powertrain Systems 2015 key figures: • Sales: €3.8bn (26% of Group sales) Sales performance • EBITDA: 12.8% (26% of Group EBITDA) • 19,400 employees OEM sales • 36 production units Like-for- like +4% +7% +8% +12% +6% change • 15 development centers • 6 research centers Market share* and competitors:
Slide 22: Thermal Systems
Thermal Systems 2015 key figures: Sales performance • Sales: €4.1bn (28% of Group sales) • EBITDA: 10.7% (24% of Group EBITDA) OEM sales Like-for-like +4% +1% +3% +6% +7% change • 20,100 employees • 48 production units • 10 development centers • 3 research centers 1,039 1,036 1,063 Total sales (€m)
Slide 23: Visibility Systems
Visibility Systems 2015 key figures: • Sales: €4.2bn (28% of Group sales) Sales performance • EBITDA: 12.4% (28% of Group EBITDA) OEM sales • 26,300 employees Like-for- like +9% +7% +6% +15% +13% • 35 production units change • 15 development centers • 5 research centers 1,124 1,119 Total sales (€m)
Slide 24: Quarterly information
Quarterly information In €m (2014 restated in accordance with IFRIC 21) Sales by segment Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Comfort & Driving Assistance Systems 623 569 515 531 552 572 573 614 657 679 663 721 794 Powertrain Systems 774 817 752 818 848 848 7
Slide 25: Safe Harbor Statement
Safe Harbor Statement Statements contained in this press release, 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 r
Slide 26: Valeo - Automotive technology, naturally
Valeo Automotive technology, naturally EN