Valeo Se · EURONEXT:FR
Valeo — Q3 2021 Earnings Presentation
28 slides from Valeo's earnings presentation, Oct 28, 2021
Slide 1: Q3 2021 Sales
Q3 2021 SALES JACQUES ASCHENBROICH CHAIRMAN & CEO VALEO RESERVED October 28, 2021 |
Slide 2: Table of Contents
Q3 2021 SALES TABLE OF CONTENTS 01 ESG & Q3 HIGHLIGHTS 03 04 SEGMENT INFORMATION 11 02 2021 OUTLOOK 06 05 BACKUP SLIDES 16 03 Q3 SALES HIGHLIGHTS 07 04 OUTPERFORMANCE PER REGION 09 VALEO RESERVED October 28, 2021 | 2
Slide 3: Our Leading ESG Performance Acknowledged by ESG Rating Agencies
OUR LEADING ESG PERFORMANCE ACKNOWLEDGED BY ESG RATING AGENCIES #1 #1 #1* #1 #1* Member of CAC 40 ESG INDEX VALEO RESERVED October 28, 2021 | 3 3 * excl. tire companies
Slide 4: Governance Aligned with Sustainability Targets
GOVERNANCE ALIGNED WITH SUSTAINABILITY TARGETS YTD 2021 CO2 EMISSIONS REDUCTION ACHIEVEMENT IN LINE WITH 2021 TARGET UNDER 2050 CARBON Annualized CO2 C02 NEUTRALITY PLAN emissions reduction objectives Valeo -45% integrated into: Variable compensation of Group’s 1,500 key managers 2019 2030 2050 Perf
Slide 5: Q3 Highlights
Q3 HIGHLIGHTS 6 innovations presented at IAA Mobility Moody’s revises up among which Automated its credit rating Valet Parking, new Smart PACE Award for outlook Lighting Systems and our innovative to “stable” new Charging Stations 48V eAccess July 27 August 30 Sept. 01 Sept. 06 Sept. 07 Oct. 01 1st
Slide 6: 2021 Outlook
2021 OUTLOOK In an environment marked by Covid-19 crisis and the electronic component shortage, assuming global automotive production* of 71 million vehicles, Valeo has set the following objectives: ● continued outperformance; ● tightening of 2021 EBITDA margin objective to the upper end of the rang
Slide 7: Q3 Sales Highlights
Q3 SALES HIGHLIGHTS down 10% lfl vs. 2020 down 16% lfl vs. 2020 Sales Outperf. of 2 points OEM €3,964m Sales Outperf. of 6 points excl. geographical mix €3,183m Good operational performance of sites in a volatile environment up 18% lfl vs. 2020 Sharp increase in Aftermarket sales Aftermarket Sales €520
Slide 8: YTD Sales Highlights
YTD SALES HIGHLIGHTS up 15% lfl vs. 2020 up 13% lfl vs. 2020 Sales Outperf. of 2 points OEM €12,958m Sales Outperf. of 3 points excl. geographical mix €10,695m up 26% lfl vs. 2020 Aftermarket Sales €1,550m VALEO RESERVED October 28, 2021 | 8
Slide 9: Outperformance in All Regions Q3 vs 2020
OUTPERFORMANCE IN ALL REGIONS Q3 vs 2020 North +3pts +6pts +2pts Europe Outperf. Outperf. China Outperf. America (including Africa) 42% of Valeo sales 17% of Valeo sales 20% of Valeo sales -22% OEM Sales lfl -10% OEM Sales lfl -22% OEM Sales lfl -28% Production* -12% Production* -25% Production* South
Slide 10: Outperformance in All Asian Countries
OUTPERFORMANCE IN ALL ASIAN COUNTRIES Q3 vs 2020 China +2pts +11pts South Korea 48% of Asian sales Outperf. Outperf. 21% of Asian sales -10% OEM Sales lfl -6% OEM Sales lfl -12% Production* -17% Production* India +50pts +25pts Japan 5% of Asian sales Outperf. Outperf. 21% of Asian sales +53% OEM Sales
Slide 11: Powertrain Systems
SOUND RESILIENCE IN EUROPE THANKS TO START OF PRODUCTION ON 48V HIGH CASH CONVERSION FOR TRANSMISSION BUSINESS POWERTRAIN SYSTEMS OUTPERFORMANCE OF 4 PTS IN Q3 48V Transmission >2x 48V >2x Torque converter Dual clutch Content per Content per car vs ICE car on hybrid Hyundai-Kia Tucson, Sportage vehi
Slide 12: Leading Position in High-Voltage via Joint Venture with Siemens
LEADING POSITION IN HIGH-VOLTAGE VIA OUR JOINT VENTURE WITH SIEMENS ~90 vehicles equipped with VSeA solutions by 2019-22 Mercedes EQS & EQE 9x Content per car vs ICE VW ID3/4 ~€750m sales in 2021 Renault Zoé & e-Tech hybrid (Clio, Megane, Captur) €4.0bn order intake target over 2021-22 €12.1bn cumul
Slide 13: Thermal Systems
Q3 RAMP-UP WITH PREMIUM GERMAN OEM IN EUROPE INCREASING WEIGHTING OF E-THERMAL SOLUTIONS IN BUSINESS GROUP’S ORDER INTAKE THERMAL SYSTEMS OUTPERFORMANCE OF 3 PTS IN Q3 Electric mobility as a growth driver eThermal Up to 3x Content per car vs ICE Battery cooling system Heat pump e-Compressor e-Heater
Slide 14: ADAS YTD Revenues Above Pre-Crisis Level
ADAS YTD REVENUES ABOVE PRE-CRISIS LEVEL DEMONSTRATING STRONG MOMENTUM IN ADAS BUSINESS (FRONT AND VISION CAMERAS) COMFORT & DRIVING ASSISTANCE SYSTEMS OUTPERFORMANCE OF 6 PTS IN Q3 ADAS # 1 worldwide: ADAS 1in4 Ultrasonic sensor Ford F-150 Surround camera Vehicles worldwide equipped with a Valeo AD
Slide 15: Visibility Systems
Q3 IMPACTED BY UNFAVORABLE CUSTOMER MIX NOTABLY IN ASIA VISIBILITY SYSTEMS Lighting identity PERFORMANCE OF -3 PTS IN Q3 HD lighting #1 Lighting as a pillar for worldwide in visibility systems style and leading player in sensor cleaning communication Profitable growth and unique Pedestrians and exper
Slide 16: Backup Slides
05 BACKUP SLIDES VALEO RESERVED October 28, 2021 | 16
Slide 17: Sales Q3 2021
SALES Q3 2021 *Like for like VALEO RESERVED October 28, 2021 | 17
Slide 18: Sales YTD 2021
SALES YTD 2021 *Like for like VALEO RESERVED October 28, 2021 | 18
Slide 19: Sales by Region Q3 2021
SALES BY REGION Q3 2021 6 POINTS OUTPERFORMANCE EXCL. GEOGRAPHIC MIX *Like for like **Based on IHS automotive production estimates released on October 16, 2021, adjusted for CPCA data relating to China – excluding light commercial vehicles in China VALEO RESERVED October 28, 2021 | 19
Slide 20: Sales by Region YTD 2021
SALES BY REGION YTD 2021 3 POINTS OUTPERFORMANCE EXCL. GEOGRAPHIC MIX *Like for like **Based on IHS automotive production estimates released on October 16, 2021, adjusted for CPCA data relating to China – excluding light commercial vehicles in China VALEO RESERVED October 28, 2021 | 20
Slide 21: Sales by Segment Q3 2021
SALES BY SEGMENT Q3 2021 *Like for like **Based on IHS automotive production estimates released on October 16, 2021 – CPCA estimates for data relating to China ***Excluding the TCM (Top Column Module) business VALEO RESERVED October 28, 2021 | 21
Slide 22: Sales by Segment YTD 2021
SALES BY SEGMENT YTD 2021 *Like for like **Based on IHS automotive production estimates released on October 16, 2021 – CPCA estimates for data relating to China ***Excluding the TCM (Top Column Module) business VALEO RESERVED October 28, 2021 | 22
Slide 23: Geographic Positioning YTD 2021
GEOGRAPHIC POSITIONING YTD 2021 VALEO RESERVED October 28, 2021 | 23
Slide 24: Customer Portfolio YTD 2021
CUSTOMER PORTFOLIO YTD 2021 VALEO RESERVED October 28, 2021 | 24
Slide 25: Contacts
INVESTOR RELATIONS VALEO 100, rue de Courcelles F-75017 Paris Cedex France Thierry Lacorre E-mail: valeo.corporateaccess.mailbox@valeo.com Website: www.valeo.com CONTACTS VALEO RESERVED October 28, 2021 | 25
Slide 26: Share Information
SHARE INFORMATION Share Data • Bloomberg Ticker FR FP • Reuters Ticker VLOF.PA • ISIN Number FR 0013176526 • Shares outstanding as of September 30, 2021 241,717,403 ADR Data • Ticker/trading symbol VLEEY • CUSIP Number 919134304 • Exchange OTC • Ratio (ADR: ord) 1:2 • Depositary Bank J.P. Morgan • C
Slide 27: Safe Harbour Statement
SAFE HARBOUR 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 respe
Slide 28: VALEO RESERVED October 28, 2021 |
VALEO RESERVED October 28, 2021 |