In 2024, Valeo achieved their profitability and cash generation objectives, recording sales of €21,492m, down 0.5 per cent like-for-like, and operating margin up 9.7 per cent to €919m, representing 4.3 per cent of sales (up 0.5 percentage points year-on-year), in line with guidance.
48 per cent of the global business is done in Europe & Africa (+1 point), followed by Asia (31 per cent, -2 points) and North America (19 per cent, -1 point).
The lighting division outperformed automotive production by 1 percentage point, driven by numerous production launches in Europe for European automakers. In China, the division’s performance was fuelled by recent production starts in electrification for a North American automaker (with starts for the same customer also boosting business in North America) and several Chinese automakers.
The lighting division’s EBITDA margin for the year remained robust at 13.2 per cent, with resilient cash generation in a context of high costs required to prepare for numerous production launches and the postponement of a large number of production starts.
For 2025, in a still-uncertain environment, Valeo are aiming for another year of improved financial performance, with the following objectives:
- Sales of between €21.5bn and €22.5bn
- An increase in operating margin to between 4.5 and 5.5 per cent
