Valeo Se · EURONEXT:FR
Valeo — Q3 2026 Earnings Presentation
23 slides from Valeo's earnings presentation, Oct 22, 2026
Slide 1: Q3 2026 Sales
Q3 2026 Sales October 22, 2026 Edouard de Pirey Chief Financial Officer
Slide 2: Q3 sales in line with full-year objectives, 2026 guidance confirmed
Q3 sales in line with full-year objectives 2026 guidance confirmed Total sales at €4.9bn, consistent with guidance 2026 GUIDANCE CONFIRMED* Expecting a standard Q4 sequential increase based on normal seasonal patterns Sales €20-21bn Reiterating full-year objectives* Targeting H2 operating margin and
Slide 3: Holding firm in a volatile environment
Holding firm in a volatile environment Relentless focus on costs and cash ADDRESSING MIDDLE EAST AND AI-RELATED INFLATION Most commodities largely indexed For non-indexed components, leveraging past execution strength to address cost tensions: secure logistics, minimize gross cost and get compensatio
Slide 4: BRAIN: Strong commercial momentum
BRAIN Strong commercial momentum Nissan Next-Gen ProPILOT Program System Tier-1 Supplier Selection ADAS Domain Controller & Sensors: Centralized computing architecture providing comprehensive 360° situational awareness Valeo Smart Safety 360 China speed execution Fast execution in high-adoption mark
Slide 5: Beyond Auto: Commercial and strategic update
Beyond Auto Commercial and strategic update Harmattan AI Partnership OCP Global Summit Presentation Sovereign Electric Drone Motor Development & Manufacturing Breakthrough Aluminum Thermal Exchanger for AI High-Density Racks Sovereign E-Motor Program: Selected by Harmattan AI to Paradigm Shift vs Co
Slide 6: Total sales €4.9bn, down 2.6% like for like
Total sales €4.9bn, down 2.6% like for like Total sales OEM Aftermarket Miscellaneous* €4,881m €4,080m €516m €285m -2.6% lfl growth -3.8% lfl growth +3.0% lfl growth +6.6% lfl growth Reported growth: -2.3% Reported growth: -3.5% Reported growth: +2.6% Reported growth: +7.6% Exchange rate: +1.0% Exchange
Slide 7: World OEM sales: Performance by region
World OEM sales Performance by region 46% 21% 18% 13% 2% Perf. -2.2pts incl. positive geo. mix impact of 0.8pts Europe North Asia China South (including Africa) America (excluding China) America -0.8% -1.6% -3.8% S&P Global Mobility Valeo OEM Sales lfl -7% OEM Sales lfl 0% OEM Sales lfl +8% OEM Sales l
Slide 8: POWER: Executing portfolio transition
POWER Executing portfolio transition OEM sales SALES -8pts perf. vs market SALES POWER €2,396m OEM sales -8%* -10% lfl growth BUSINESS HIGHLIGHTS Continued good performance in North America driven by the successful start of production of new programs Ongoing diversification of E-Tech solutions custome
Slide 9: BRAIN: Back to growth in Q3
BRAIN Back to growth in Q3 OEM sales SALES +10pts perf. vs market SALES BRAIN €1,198m OEM sales +8%* +8% lfl growth BUSINESS HIGHLIGHTS Strong overall Division performance, demonstrating solid commercial momentum across key technology domains Good momentum in ultrasonic sensors and cameras €1,106m €1
Slide 10: LIGHT: Strong performance in Europe and Asia
LIGHT Strong performance in Europe and Asia OEM sales SALES -2pts perf. vs market SALES LIGHT €1,267m OEM sales -1%* -3% lfl growth BUSINESS HIGHLIGHTS Resilient performance in Europe supported by successful new program starts of production Strong performance in Asia driven by production ramp-ups €1,
Slide 11: Conclusion
Conclusion Q3 2026 Holding firm in a Reiterating Executing consistent with highly dynamic full-year 2026 Elevate 2028 full-year environment guidance as planned objectives VALEO Q3 SALES | OCTOBER 22, 2026 11
Slide 12: Thank you
Thank you Q&A 12
Slide 13: Backup slides
Backup slides 13
Slide 14: YTD sales by type
YTD sales by type Total sales OEM Aftermarket Miscellaneous* €15,259m €12,624m €1,618m €1,016m -0.3% lfl growth -1.6% lfl growth +2.4% lfl growth +13.2% lfl growth Reported growth: -2.5% Reported growth: -3.9% Reported growth: +0.1% Reported growth: +12.1% Exchange rate: -1.5% Exchange rate: -1.5% Excha
Slide 15: YTD OEM sales Performance by region
YTD OEM sales Performance by region 49% 20% 17% 12% 2% Perf. -0.9pts incl. positive geo. mix impact of 1.0pt 0.2% Europe North Asia China South (including Africa) America (excluding China) America -0.7% -1.6% S&P Global Mobility Valeo OEM Sales lfl -5% OEM Sales lfl +4% OEM Sales lfl +7% OEM Sales lfl -
Slide 16: YTD sales by Division
YTD sales by Division Sales by Division Change Change in (in millions of euros) YTD 26 YTD 25 in sales OEM sales* Perf.** POWER 7,514 8,002 -6.1% -4.0% -3pts BRAIN 3,731 3,632 +2.7% +2.2% +3pts LIGHT 3,987 4,010 -0.6% -0.6% 0pts OTHER 27 13 N/A N/A N/A GROUP TOTAL 15,259 15,657 -2.5% -1.6% -1pt * li
Slide 17: Key ESG KPIs
Key ESG KPIs 2019 2025 base year Dec. 31, 2025 Emissions from operating activities – Scopes 1 & 2 in MtCO2eq. 1.1 0.4 Emissions from purchased goods and services – Upstream Scope 3 in MtCO2eq. 9.5 8.0 E Emissions from the use of Valeo products – Downstream Scope 3 Emissions reduction (Scopes 1, 2 &
Slide 18: Sustainability is in our DNA
Sustainability is in our DNA An ESG leader recognized by rating agencies Valeo is included in major ESG indices 72 /100 17.5 B- Prime CAC Transition Climat low risk Global ESG Leaders Climate A AAA Change A Water VALEO Q3 SALES | OCTOBER 22, 2026 18
Slide 19: 2026 guidance confirmed
2026 guidance confirmed FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 incl. VSeA incl. VSeA Actual Actual Actual Guidance** Sales €18.0bn €20.4bn €22.0bn €21.5bn €20.9bn €20-21bn (in €bn) Operating margin* 1.7% 2.4% 3.8% 4.3% 4.7% 4.7%-5.3% (as % of sales) Free cash flow* (in €m) €(146)m €102m €170m
Slide 20: Share information
Share information Share Data ADR Data Ticker/trading symbol VLEEY Bloomberg Ticker FR FP CUSIP Number 919134304 Reuters Ticker VLOF.PA Exchange OTC ISIN Number FR0013176526 Ratio (ADR: ord) 1:2 Shares outstanding as of Dec. 31, 245,607,624 Depositary Bank J.P. Morgan 2025 Contact at J.P. Morgan – AD
Slide 21: Glossary
Glossary Order intake corresponds to business awarded by automakers during the period to Valeo, and to joint ventures and associates based on Valeo’s share in net equity, less any cancellations, based on Valeo’s best reasonable estimates in terms of volumes, selling prices and project lifespans. Una
Slide 22: Safe harbor statement
Safe harbor statement Statements contained in this document which, when they 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 w
Slide 23: Driving Change Together
Driving Change Together