Q1 2016 Sales - valeo.com · PDF fileKoito + Valeo-Ichikoh + Magnetti Marelli > 55%* - Wiper Systems: Valeo no.1 Valeo + Bosch + Denso = 71%* April 26, 2016 I 23 *Valeo estimate Key

Q1 2016 SalesJacques Aschenbroich

April 26, 2016 I 1

April 26, 2016

Jacques AschenbroichChairman and CEO

Highlights

Growth accelerating

Sales of 3,917m+10% like-for-like(1)

+9.4% as reported

OEM sales of 3.4bn+10% like-for-like(1)

+10% as reported

OEM sales outperformance

World

Growth(1)

+10%

Outperformance(2)

+9pts

April 26, 2016 I 2(1) Constant Group structure and exchange rates.(2) Versus automotive production

accelerating EuropeChina

Asia (excluding China)

North America

South America

+11%

+13%

+9%

+11%

-12%

+10pts

+9pts

+10pts

+6pts

+13pts

Aftermarket sales of 0.4bn+6% like-for-like(1)

+3% as reported

2016 outlook

Based on the following key assumptions for full-year 2016:

Automotive production growth:

World: around 2.5%

Europe: around 2%

China: around 5%

North America: around 2%

Raw material prices and exchange rates in line with current levels

April 26, 2016 I 3

Valeo confirms its objectives for 2016:

Strong sales growth, outperforming the market in the main productionregions including China

Slight increase in operating margin* (as a % of sales) despite higher netR&D expenditure to fuel future growth in CO2 emission reductions andintuitive driving

Mid term objectives:

Confidence in achieving 2020 targets thanks to the high level of orderintake

* Including joint ventures and associates in accordance with new IFRS standards.

Growth accelerating

Sales of 3,917m, up 10% like-for-likeup 9.4% as reported

April 26, 2016 I 4

up 9.4% as reported

OEM sales, up 10% like-for like, 9-point outperformanceup 10% as reported

Aftermarket sales, up 6% like-for-likeup 3% as reported

41169

+10%+10%

m

Like-for-like +6% +3%

Total sales growth accelerated as compared to 2015

April 26, 2016 I 5

3,4373,917

OEM Aftermarket Miscellaneous Total sales

+9%Q1 2015 3,581

Exchange rates -1.1%

Scope +0.9%*

+10%Q1 2015 3,113

Exchange rates -0.8%

Scope +1.0%

+3%Q1 2015 400

Exchange rates -3.0%

Scope +0.0%

m

+2%Q1 2015 68

Exchange rates -1.4%

Scope 0.0%

Reported

Europe*Production*** +1%

Asia* excl. China

North AmericaProduction*** +5%

49% of Valeo sales****

12% of Valeo sales****

22% of Valeo sales****OEM

sales** +11%

OEM sales**

+9%

WorldProduction***+1%

OEM sales**

+10%Q1

Like-for-like

OEM sales accelerated in all production regions outperforming the global market by 9 percentage points

OEM sales** +11%

Outperf. +6pts

Outperf. +10pts

Outperf. +9pts

April 26, 2016 I 6

Asia* excl. ChinaProduction***-1%

South AmericaProduction***-25%

2% of Valeo sales****

+9%

OEM sales**

-12%15% of Valeo sales****

OEM sales** +13%China

Production***+4%

* Europe including Africa; Asia including Middle East

** Valeo OEM sales by destination***LMC estimates light vehicle production**** Weight in OE sales including JV sales proportionally, OE sales variation excluding JVOutperf. +6pts

Outperf. +13pts

Outperf. +10pts

Outperf. +9pts

JapanProduction** -2%

17% of Asian sales***

KoreaProduction** -4%

21% of Asian sales***OEM sales* +24%

OEM sales* +0%

Q1Like-for-like

OEM sales* +11%Asia

Production** +1%

27% of total sales***

OEM sales accelerated in all Asian countries

Outperf. +10pts

Outperf. +28pts

Outperf. +2pts

April 26, 2016 I 7

IndiaProduction** +10%

4% of Asian sales***

ChinaProduction** +4%

55% of Asian sales***

OEM sales*+59%

*Valeo OEM sales by destination**LMC estimates light vehicle production***Weight in OE sales including JV sales proportionally, OE sales variation excluding JV

Outperf. +9pts

Outperf. +49pts

Outperf. +28pts

OEM sales*+13%

Eastern Europe &

Africa16%

% of OEM sales by production region

Western

Balanced geographic positioningAsia and emerging markets account for 53% of OEM sales

Eastern Europe &

Africa15%

Western

April 26, 2016 I 8

Q1 2016

US12%

Mexico10%

SA1%

Asia26%

Q1 2015

Europe35%

53% in Asia& emergingcountries

US11%

Mexico11%

SA2%

Asia26%

Europe35%

54% in Asia& emergingcountries

French* 16%

Other5%

Balanced customer portfolio

% of OEM sales

German30%

French* 17%

Other6%

German29%

April 26, 2016 I 9

American23%

Q1 2016Q1 2015

* Excluding Nissan** Including Nissan

Asian**26%

Asian**26%

American23%

Asian**25%

OEM sales growthlike-for-like

Strong growth in Comfort & Driving Assistance and Visibility Above-market performance in Powertrain and Thermal

CDA 20%

PTS25%

THS27%

VIS28%

Group3.9bn

% Q1 2016 total sales

+17% +6% +7% +13%

April 26, 2016 I 10

Comfort & Driving Assistance

Powertrain Thermal Visibility

Total sales In m

+21% +4% +6% +10%Total salesgrowth On a reported basis

2016 outlook

April 26, 2016 I 11

2016 outlook

2016 outlook

Based on the following key assumptions for full-year 2016:

Automotive production growth:

World: around 2.5%

Europe: around 2%

China: around 5%

North America: around 2%

Raw material prices and exchange rates in line with current levels

April 26, 2016 I 12

Valeo confirms its objectives for 2016:

Strong sales growth, outperforming the market in the main productionregions including China

Slight increase in operating margin* (as a % of sales) despite higher netR&D expenditure to fuel future growth in CO2 emission reductions andintuitive driving

Mid term objectives:

Confidence in achieving 2020 targets thanks to the high level of orderintake

* Including joint ventures and associates in accordance with new IFRS standards.

Valeo Siemens joint venture

April 26, 2016 I 13

Valeo Siemens joint venture

Valeo and Siemens are complementary

Power converters and inverters Battery Charger

April 26, 2016 I 14

Lithium-ion batteryElectric motor

Valeo activites for electric and hybrid vehicles

Valeo develops high voltage power electronics (300V+):

inverters to control electrical machines,

Inverter (Renault Zoe)

Battery charger (BMW PHEV, Volvo XC90)

April 26, 2016 I 15

embedded battery chargers,

voltage converters,

and a high-voltage generator for BMW

DCDC converter (GM)

Range extender generator (BMW i3)

Footprints & Reference Personnel Figures (by 31/12/2015)

Valeo PEL High voltage (205 employees)

France Cergy: 89

China Shenzhen: 36

Hungary Vezprem: 37

Norway Drammen: 20

Poland Czechowice: 16

Total: 701 employees

April 26, 2016 I 16

Poland Czechowice: 16

Germany Frankfurt: 7

Siemens E-car Business (496 employees)

Germany Erlangen & Bad Neustadt: 370

China Shanghai & Changzhou & Tianjin: 126

Contact

Investor Relations

Thierry Lacorre

43, rue BayenF-75848 Paris Cedex 17France

April 26, 2016 I 17

Tel.: +33 (0) 1.40.55.37.93

E-mail: [email protected]: www.valeo.com

Share information

FR FPVLOF.PAFR 00013033879,462,540

Share data

Bloomberg Ticker Reuters Ticker ISIN Number Shares outstanding as of March 31, 2016

April 26, 2016 I 18

ADR data

Ticker/trading symbol CUSIP Number Exchange Ratio (ADR: ord) Depositary Bank Contact at J.P. Morgan ADR

broker relationship desk

VLEEY919134304OTC1:2J.P. MorganJim Reeves+1 212-622-2710

Back-up

April 26, 2016 I 19

Comfort & Driving Assistance Systems

Sales performance

+13%

+19%

Total sales (m)

Total sales -change asreported

OEM sales Like-for-likechange

+12%

+19%

+15%

+17%

657 679 663721

794

Q1 15 Q2 15 Q3 15 Q4 15 Q1 16

+13%

+16%

+17%

+21%

2015 key figures: Sales: 2.7bn (18% of Group sales) EBITDA: 14.5% (21% of Group EBITDA)

15,300 employees 26 production units 8 development centers 9 research centers

Market share* and competitors:

- Driving Assistance: Valeo no.1Valeo + Bosch + Continental ~ 55%*

- Interior Controls: Valeo no.2Visteon + Valeo + Continental > 35%*

April 26, 2016 I 20* Valeo estimate

reported

Key growth drivers: Development, particularly in emerging countries

Increasingly stringent regulatory and certification environment (Euro NCAP in Europe and NTHSA in the US)

Innovation driven market: active safety, interface between drive and vehicle controls, te