Valeo : Significant improvement expected (and needed) in H2
>H1 in line except for lower FCF, full-year guidance confirmed with higher LVP - As Valeo had already released preliminary information on its H1 2023 performance at the beginning of June (operating margin of c.3.2%, FCF negatively impacted in the amount of € 200m – ultimately € 260m – by the postponement of price compensation in H2), the focus was more on the details and the message on the outlook. While the margin was in line (3.2%), adjusted FCF was well below expec...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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