Valeo : A mixed release likely to disappoint
>H2 2022 earnings and 2023 guidance likely to disappoint - Yesterday evening Valeo reported H2 2022 results that were in line at the revenue level, below expectations at the EBIT level (-6% vs consensus) and, conversely and like its peers, much higher than expected in terms of adjusted FCF (+34%), though this positive surprise is not reflected in debt, which is higher than anticipated. As regards the outlook, the 2023 targets suggest, at the midpoint, a margin that is...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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