Valeo reports 38% y/y drop in 2018 net income to USD624.5 million

French supplier secures new business worth EUR28.6 billion in 2018

Valeo has reported 38% year-over-year (y/y) decline in net income to EUR546 million (USD624.5 million) for the financial year ended 31 December 2018, the French automotive supplier said in a press release on 21 February. The company’s operating income for the year also dropped, by 17% y/y, to USD1.2 billion, resulting in operating income margin of 6.7% compared with 7.8% in the previous year. Sales increased 4% y/y to USD19.2 billion. At constant exchange rate, the company’s sales increased 6% y/y.