Valeo's profits slide during 2012

Results reflect ongoing difficulties in the European market while its performance in the Chinese and North American markets remain strong

Valeo's net profits have slipped despite an improvement in its sales revenues. For the year ending 31 December 2012, the automaker said in a statement that its sales revenues had improved by 8.2% year-on-year (y/y) to EUR11.8 billion (USD15.6 billion). However, it added that its operating income had fallen by 4.5% y/y, while its net income has slid by 11% y/y to EUR380 million, including EUR40 million of non-recurring items.