Valeo : A solid and welcomed outperformance but not yet enough to resolve all of the issues
>The outperformance accelerated as expected, and even slightly better - Yesterday evening, Valeo published Q3 sales of € 4,772m, 3% above expectations (in line with ODDO BHF) with organic growth of 5% despite a 3% decline in automobile production over the quarter. As such, management’s promised acceleration in outperformance in H2 is confirmed (+8 points in Q3 vs +4 points in H1). That said, even though the group announced that FV guidance has been maintained despite ...Valeo is an automotive supplier, partner to automakers worldwide. As an industrial and technology company, Co. focuses on designing, manufacturing and selling components, integrated systems and modules for automobiles and heavy goods vehicles, both on the original equipment and the aftermarket segments. In addition, Co. offers innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving to its customers. Co. operates through four business groups: Comfort and Driving Assistance Systems, Powertrain Systems, Thermal Systems, and Visibility Systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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