Valeo : A release that is unlikely to improve sentiment on the sector
>Sales 3% below css & a much more cautious message on the year end and 2025 - Valeo reported Q3 sales of € 4,967m, down 5% on a reported basis and 3% below expectations. In the face of LVP that was down 5.5% in Q3, the outperformance was therefore 3 points, penalised again mostly by China and the Power division. Otherwise, the supplier again lowered its full-year sales target (-3% vs consensus; € 21.3bn vs € 22.0bn), pointing to an increasingly challenging environment...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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