Valeo’s first-quarter sales of €5.3bn is down by 1 per cent on a like-for-like basis.
In Europe and Africa, all divisions outperformed automotive production, with a Group outperformance of 10 percentage points. The Power Division benefited from a favourable basis of comparison in the high-voltage electric powertrain business, and a good level of activity in thermal systems for electrified vehicles. The Brain Division delivered an outperformance, notably in its Interior Experience business (in particular Phone-As-A-Key, telematics and displays), thanks to the ramp-up of production at several European automaker platforms. The Light Division also benefited from the ramp-up of production at several European automakers.
In China, the Group underperformed automotive production by 20 percentage points. Against a backdrop of faster growth for new-energy vehicles and market share gains by Chinese automakers, the Group continue to reposition their customer portfolio — around 50 per cent of original-equipment sales in the first quarter of 2025 and around 60 per cent of order intakes in 2024 were with automakers in China, excluding joint ventures.
In Asia excluding China, Valeo outperformed automotive production by 3 percentage points thanks to strong sales momentum for the Power Division in India in the high-voltage electric powertrain business, and in South Korea in thermal systems.
In North America, Valeo underperformed automotive production by 3 percentage points, with business affected by the postponement of production starts on particular contracts.
The Light Division underperformed automotive production by 4 percentage points (revenue €1,354bn). The division’s business remains buoyant in Europe, thanks to the ramp-up of production at several European automakers. However, the division was affected by production-start postponements in North America, and an unfavourable customer mix in China and Japan.
