Slide 1: Q1 2018 Sales
Q1 2018 SALES JACQUES ASCHENBROICH – CHAIRMAN & CEO April 25, 2018
Slide 2: Application of the new IFRS 15 standard as of January 1, 2018
APPLICATION OF THE NEW IFRS 15 STANDARD AS OF JANUARY 1, 2018 Valeo has applied IFRS 15 since January 1, 2018, with comparative periods restated. For the sake of consistency, the first section of this presentation shows first-quarter 2018 sales figures under the same accounting principles as in 2017
Slide 3: Non-IFRS 15
NON-IFRS 15 April 25, 2018
Slide 4: Highlights
Non - IFRS 15 HIGHLIGHTS Strong basis of comparison in Q1 2017 with: Reported growth: +22% Like-for-like growth: +13% Growth rates in Q1 2018 Reported growth: +3% Including acquisitions, at same exchange rates: +8.5% Like-for-like growth: +1% Like-for-like growth expected to accelerate to between 5%
Slide 5: Q1 sales up 3% as reported, up 1% like for like
Q1 SALES UP 3% AS REPORTED, UP 8.5% INCL. ACQUISITIONS EXCL. EXCHANGE RATES, UP 1% LIKE FOR LIKE Non- STRONG BASIS OF COMPARISON IN Q1 2017 IFRS 15 ACCELERATION IN SALES GROWTH IN Q2 Like-for-like +1% +3% -2% +1% 119 523 €m 4,917 4,275 Incl. - 0.3pt impact of South Korea OEM Aftermarket Miscellaneou
Slide 6: Q1 2018 like-for-like OEM sales outperformance in line with LMC production
Non- Q1 2018 LIKE-FOR-LIKE OEM SALES OUTPERFORMANCE IFRS 15 IN LINE WITH LMC PRODUCTION, INCLUDING -0.3PT IMPACT OF SOUTH KOREA OEM South Q1 sales(2) Korean impact OEM +1% Like-for-like 49% of Valeo sales(2) sales(2) World -0.3pts OEM +1% 19% of Valeo sales(2) sales(2) Europe (1) -2% Outperformance
Slide 7: Q1 2018 like-for-like OEM sales outperformance in Asia
Non- Q1 2018 LIKE-FOR-LIKE OEM SALES OUTPERFORMANCE IN ASIA IFRS 15 IN LINE WITH LMC PRODUCTION, INCLUDING – 1.0PT IMPACT OF SOUTH KOREA Q1 26% of Asian sales(1) OEM sales(1) Like-for-like +5% OEM South Japan 30% of total sales(1) sales(1) Korean impact Outperformance +1% -1.0pt +2pts vs LMC(2) OEM
Slide 8: Balanced geographic positioning
Non- IFRS 15 BALANCED GEOGRAPHIC POSITIONING OEM sales by production region % of OEM sales Eastern Eastern Europe & Europe & Africa Africa 16% 16% Western Western Europe Europe Asia excl. 32% 34% China Asia excl. 56% in Asia 57% in Asia China & emerging 15% & emerging 18% countries countries China U
Slide 9: A diverse customer portfolio
Non- IFRS 15 A DIVERSE CUSTOMER PORTFOLIO % of OEM sales Other Other 6% 6% French* French* 15% German** 15% German** 28% 28% American American 19% 18% Asian Asian Asian** 32% Asian** 33% 26% 26% Q1 2017 Q1 2018 * Including Opel **Excluding Opel 9 April 25, 2018
Slide 10: Sales by business group
Non- IFRS 15 SALES BY BUSINESS GROUP OEM sales growth +1% -1% +2% +1% CDA VIS 18% like-for-like 30% South Group Korean €4.9bn impact PTS -1.4pts 27% THS 25% % of Q1 2018 sales 1,491 1,310 1,240 Total sales 913 In €m Comfort & Driving Powertrain Thermal Visibility Assistance Total sales growth -3% +1
Slide 11: Outlook: February 2018 guidance confirmed
OUTLOOK: FEBRUARY 2018 GUIDANCE CONFIRMED April 25, 2018
Slide 12: February 2018 guidance confirmed
FEBRUARY 2018 GUIDANCE CONFIRMED Based on the following assumptions: an increase in global automotive production of 1.5% in 2018; raw material prices and exchange rates in line with those of February 2018 levels. The Valeo Group confirms its objectives: nominal sales growth of around 8% for 2018; li
Slide 13: Valeo Siemens eAutomotive
VALEO SIEMENS EAUTOMOTIVE Valeo Siemens eAutomotive had a strong order intake of 6.1 billion euros in 2017 and a cumulative 10 billion euros at end-February 2018; to accommodate its fast-paced expansion going forward, Valeo Siemens eAutomotive will bear the costs required to push ahead with ongoing
Slide 14: IFRS 15
IFRS 15 April 25, 2018
Slide 15: Q1 sales up 3% as reported, up 0% like for like
Q1 SALES UP 3% AS REPORTED, UP 7.6% INCL. ACQUISITIONS EXCL. EXCHANGE RATES, UP 0% LIKE FOR LIKE IFRS 15 STRONG BASIS OF COMPARISON IN Q1 2017 ACCELERATION IN SALES GROWTH IN Q2 Like-for-like +0% +3% +1% +0% 204 523 €m 4,881 Incl. - 0.3pt impact 4,154 of South Korea OEM Aftermarket Miscellaneous Sal
Slide 16: Like-for-like OEM sales outperformance vs LMC production
IFRS 15 -1 POINT LIKE-FOR-LIKE OEM SALES OUTPERFORMANCE VS LMC PRODUCTION, INCLUDING -0.3PT IMPACT OF SOUTH KOREA OEM South Q1 sales(2) Korean impact Like-for-like OEM +0% -0.3pts 50% of Valeo sales(2) sales(2) World OEM +1% 17% of Valeo sales(2) sales(2) Europe(1) -4% Outperformance North North Ame
Slide 17: Like-for-like outperformance in Asia vs LMC production
IFRS 15 -1 POINT LIKE-FOR-LIKE OUTPERFORMANCE IN ASIA VS LMC PRODUCTION, INCLUDING – 1.0PT IMPACT OF SOUTH KOREA Q1 26% of Asian sales(1) OEM sales(1) Like-for-like +4% OEM South Japan 30% of total sales(1) sales(1) Korean impact Outperformance +0% -1.0pt +1pt vs LMC(2) OEM South +4pts vs IHS(3) Asi
Slide 18: Balanced geographic positioning
IFRS 15 BALANCED GEOGRAPHIC POSITIONING OEM sales by production region % of OEM sales Eastern Eastern Europe & Europe & Africa Africa 16% 16% Western Western Europe Europe Asia excl. 33% 35% China Asia excl. 57% in Asia 57% in Asia China & emerging 15% & emerging 18% countries countries US China Chi
Slide 19: A diverse customer portfolio
IFRS 15 A DIVERSE CUSTOMER PORTFOLIO % of OEM sales Other Other 6% 6% French* French* 15% German** 15% German** 29% 29% American American 20% 18% Asian Asian Asian** 30% Asian** 32% 26% 26% Q1 2017 Q1 2018 * Including Opel **Excluding Opel 19 April 25, 2018
Slide 20: Sales by business group
IFRS 15 SALES BY BUSINESS GROUP OEM sales growth +1% -1% -1% +1% CDA like-for-like VIS 19% 31% South Group Korean €4.9bn impact PTS -1.4pts 27% THS 23% % of Q1 2018 sales 1,514 1,326 Total sales 1,140 938 In €m Comfort & Driving Powertrain Thermal Visibility Assistance Total sales growth -3% +19%* -
Slide 21: Back-up
BACK-UP April 25, 2018
Slide 22: 2017 quarterly information - sales by type
2017 QUARTERLY INFORMATION - SALES BY TYPE (IN €M) As reported during fiscal year 2017 Q1-17 Q2-17 Q3-17 Q4-17 FY 17 Original Equipment 4,174 4,061 3,751 4,134 16,120 Aftermarket 487 476 446 478 1,887 Miscellaneous 106 160 104 173 543 Total sales 4,767 4,697 4,301 4,785 18,550 Sales by type (IFRS 15
Slide 23: 2017 quarterly information - sales by segment
2017 QUARTERLY INFORMATION - SALES BY SEGMENT (IN €M) As reported during fiscal year 2017 Q1-17 Q2-17 Q3-17 Q4-17 FY 17 Comfort & Driving Assistance Systems 938 899 859 894 3,590 Powertrain Systems 1,105 1,058 963 1,174 4,300 Thermal Systems 1,312 1,282 1,157 1,252 5,003 Visibility Systems 1,458 1,4
Slide 24: Valeo: four market-leading business groups
VALEO AN ORGANIZATIONAL STRUCTURE BUILT ON FOUR MARKET-LEADING, HIGH-GROWTH POTENTIAL BUSINESS GROUPS 24 April 2018
Slide 25: Comfort & Driving Assistance
Non- IFRS 15 COMFORT & DRIVING ASSISTANCE Total sales - change as -3% reported Market share* and competitors: 2017 key figures: • Sales: €3.6bn (19% of Group sales) - Comfort & Driving • EBITDA: 14.5% (21% of Group EBITDA) 938 913 Assistance: Valeo no.2 • 22,900 employees Total sales (€m) Continenta
Slide 26: Powertrain Systems
Non- IFRS 15 POWERTRAIN SYSTEMS Total sales - change as +19% reported Market share* and competitors: 2017 key figures: • Sales: €4.3bn (23% of Group sales) - Electrical Systems: Valeo no.1 • EBITDA: 13.2% (23% of Group EBITDA) Valeo + Denso + Bosch/ZMJ ~ 70%* 1,310 • 25,000 employees 1,105 • 55 prod
Slide 27: Thermal Systems
Non- IFRS 15 THERMAL SYSTEMS Total sales - change as -6% reported 2017 key figures: • Sales: €5.0bn (27% of Group sales) Market share* and competitors: • EBITDA: 10.8% (22% of Group EBITDA) Thermal Systems: Valeo no.2 • 24,200 employees 1,312 Total sales (€m) 1,240 Denso + Valeo + Hanon + Mahle ~ 54
Slide 28: Visibility Systems
Non- IFRS 15 VISIBILITY SYSTEMS Total sales - change as +2% reported Market share* and competitors: 2017 key figures: • Sales: €5.8bn (31% of Group sales) • EBITDA: 13.2% (32% of Group EBITDA) - Lighting Systems: Valeo no.1 1,458 1,491 Total sales (€m) Valeo + Koito + Magnetti Marelli ~ 58%* • 37,20
Slide 29: Quarterly information (in €M)
Non- IFRS 15 QUARTERLY INFORMATION (IN €M) Sales by segment Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1 18 Comfort & Driving Assistance Systems 552 572 573 614 657 679 663 721 794 866 825 877 938 899 859 894 913 Powertrain Systems 848 848 798 84
Slide 30: Quarterly information (in €M)
IFRS 15 QUARTERLY INFORMATION (IN €M) Sales by segment Q1-17 Q2-17 Q3-17 Q4-17 Q1 18 Comfort & Driving Assistance Systems 962 927 878 932 938 Powertrain Systems 1,117 1,072 972 1,190 1,326 Thermal Systems 1,224 1,201 1,070 1,167 1,140 Visibility Systems 1,485 1,529 1,381 1,526 1,514 Total sales 4,74
Slide 31: Investor Relations
CONTACTS 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 Website: www.valeo.com 31 April 25, 2018
Slide 32: Share information
SHARE INFORMATION Share Data • Bloomberg Ticker FR FP • Reuters Ticker VLOF.PA • ISIN Number FR 0013176526 • Shares outstanding as of March 30, 2018 239,653,121 ADR Data • Ticker/Trading Symbol VLEEY • CUSIP Number 919134304 • Exchange OTC • Ratio (ADR: ord) 1:2 • Depositary Bank J.P. Morgan • Conta
Slide 33: 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 34: SUV) JALYVWS AO4
SUV) JALYVWS AO4 ADOIONH)4L LYUVWS —— mn Ov/D