Slide 1: Q1 2019 Sales
Q1 2019 SALES JACQUES ASCHENBROICH – CHAIRMAN & CEO April 25, 2019
Slide 2: 4 points OEM sales outperformance in a difficult environment
4 POINTS OEM SALES OUTPERFORMANCE IN A DIFFICULT ENVIRONMENT Q1 19 4 pts outperformance 219 501 4,841 €m 4,121 OEM Aftermarket Miscellaneous Sales Reported -1% -4% +7% -1% Like for like -3% -4% +5% -3% Exchange rates +2.4% Exchange rates +0.7% Exchange rates +2.5% Exchange rates +2.2% Scope -0.4% Sc
Slide 3: Outperformance improvement thanks to new contracts start of production
OUTPERFORMANCE IMPROVEMENT THANKS TO NEW CONTRACTS START OF PRODUCTION Like for like In percentage points +4pts** +2pts* 0pts* H1 18 9,863 H2 18 Q1 19 *IHS estimates – In China, China Passenger Car Association (CPCA) estimates **IHS estimates 3 April 25, 2019
Slide 4: A gradual increase in like-for-like growth and market outperformance during the year
A GRADUAL INCREASE IN LIKE-FOR-LIKE GROWTH AND MARKET OUTPERFORMANCE DURING THE YEAR Arrival of new platforms in 2019 Examples of new products +85% Content per car for Valeo Averageleading content to €x / +x% vs previous vehicles +€800m Additional sales in 2019 4 April 25, 2019
Slide 5: 4 points OEM sales outperformance (like for like)
4 POINTS OEM SALES OUTPERFORMANCE (LIKE FOR LIKE) Q1 19 OEM sales(2) Like for like OEM -3% 49% of Valeo sales(2) sales(2) OEM -2% World 20% of Valeo sales(2) sales(2) Europe (1) +5% North NorthAmerica America OEM sales** +6% Outperformance Outperformance Production*** +4% +2pts vs IHS (3) +4pts vs I
Slide 6: Asia globally in line with a weak market
ASIA GLOBALLY IN LINE WITH A WEAK MARKET Q1 19 OEM Like for like 28% of Asian sales(1) Sales(1) OEM -7% 29% of Valeo sales(1) sales(1) Japan -9% OEM Asia (3) 24% of Asian sales(1) Sales(1) Outperformance +1% -8pts vs IHS(2) South Korea Outperformance 0pts vs IHS(2) OEM 38% of Asian sales(1) Sales(1)
Slide 7: Every business group is outperforming the market
EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET Outperformance +7pts +3pts +4pts +3pts CDA VIS 20% 31% Group €4.8bn PTS 26% THS 23% Q1 total sales 1,502 1,266 1,143 In €m % of Q1 19 sales 964 Comfort & Driving Powertrain Thermal Visibility Assistance Reported +3% -5% 0% -1% OEM sales Like for like
Slide 8: Balanced geographic positioning
BALANCED GEOGRAPHIC POSITIONING OEM sales by production region % of OEM sales Eastern Eastern Europe & Europe & Africa Africa 16% 17% Western Western Europe Europe Asia excl. 34% 32% 58% in Asia Asia excl. China 59% in Asia & emerging China 18% & emerging 18% countries countries US US China China 9%
Slide 9: Balanced customer portfolio
BALANCED CUSTOMER PORTFOLIO % of OEM sales Other Other 5% 6% French* French* 15% 14% German** German** 29% 30% American American 19% 18% Asian Asian Asian** 32% 32% 26% Q1 2018 Q1 2019 * Including Opel **Excluding Opel 9 April 25, 2019
Slide 10: 2019 Outlook: guidance unchanged
2019 OUTLOOK: GUIDANCE UNCHANGED April 25, 2019
Slide 11: 2019 Outlook
2019 OUTLOOK In a context of: volatile global automotive production (estimated growth of between 0% and -1% over the year compared with 2018) with a decline in the first half (due to the economic environment in China), and an improvement in the second half; uncertainty regarding the price of raw
Slide 12: Back-up
BACK-UP Business Group information 13 IFRS 16 18 April 25, 2019
Slide 13: Business Group information
BUSINESS GROUP INFORMATION April 25, 2019
Slide 14: Comfort & Driving Assistance Systems
COMFORT & DRIVING ASSISTANCE SYSTEMS Outperformance 0pts +7pts 2018 key figures: OEM sales growth +1% 0% Market share* and competitors: • Sales: €3.6bn (19% of Group sales) Like for like • EBITDA: 14.0% (22% of Group EBITDA) - Comfort & Driving Assistance: Valeo no. 2 • 24,600 employees • 27 plants
Slide 15: Powertrain Systems
POWERTRAIN SYSTEMS Outperformance +2pts +3pts OEM sales growth 2018 key figures: Like for like -1% -4% • Sales: €5.1bn (26% of Group sales) Market share* and competitors: • EBITDA: 13.1% (28% of Group EBITDA) - Valeo no. 1 • 23,700 employees Valeo + Denso + Luk + Melco ~ 47%* • 55 plants • 16 develo
Slide 16: Thermal Systems
THERMAL SYSTEMS Outperformance -2pts +4pts 2018 key figures: OEM sales growth • Sales: €5.0bn (26% of Group sales) Like for like -1% -3% Market share* and competitors: • EBITDA: 10.8% (20% of Group EBITDA) Thermal Systems: Valeo no. 2 • 24,500 employees Denso + Valeo + Hanon + Mahle ~ 55%* • 64 plan
Slide 17: Visibility Systems
VISIBILITY SYSTEMS Outperformance +3pts 0pts Market share* and competitors: 2018 key figures: OEM sales growth Like for like +1% -4% • Sales: €5.7bn (29% of Group sales) - Lighting Systems: Valeo no. 1 • EBITDA: 11.1% (27% of Group EBITDA) Valeo + Koito + Magnetti Marelli + Hella ~ 65%* • 36,900 emp
Slide 18: IFRS 16 Impact
IFRS 16 IMPACT April 25, 2019
Slide 19: Impacts of IFRS 16 – effective as of January 1, 2019
IMPACTS OF IFRS 16 – EFFECTIVE AS OF JANUARY 1, 2019 On January 13, 2016, the IASB published IFRS 16 – “Leases”. IFRS 16 introduces major changes in the principles for measuring, recognizing and presenting leases in the financial statements of lessees. The Group is currently finalizing its assessmen
Slide 20: Investor Relations
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 20 April 25, 2019
Slide 21: Share Information
SHARE INFORMATION Share Data • Bloomberg Ticker FR FP • Reuters Ticker VLOF.PA • ISIN Number FR 0013176526 • Shares outstanding as of March 31, 2019 240,253,100 ADR Data • Ticker/trading symbol VLEEY • CUSIP Number 919134304 • Exchange OTC • Ratio (ADR: ord) 1:2 • Depositary Bank J.P. Morgan • Conta
Slide 22: 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 23: Valeo
Valeo SMART TECHNOLOGY FOR SMARTER CARS