Valeo SA (LTS:0RH5)

€ 9.068 -0.091 (-0.99%) Market Cap: 2.21 Bil Enterprise Value: 6.25 Bil PE Ratio: 9.11 PB Ratio: 0.60 GF Score: 61/100

Q3 2022 Valeo SE Earnings Call Transcript

Oct 27, 2022 / NTS GMT

Release Date Price: €17.29 (+1.54%)

Transcript

Operator

Welcome to the Valeo Q3 Sales Conference Call. I now hand over to Mr. Christophe Perillat, CEO of Valeo. Sir, please go ahead.

Christophe Perillat;Piratoine

Valeo SE - CEO & Director

Thank you, and good evening, everyone. Thank you very much for attending the call. Today, I'm joined by Robert Charvier, our CFO; Francois Marion, who is Group Communications Senior VP; and Thierry Lacorre, Investor Relations VP. The call will last 45 minutes sharp, including 15 minutes of presentation and 30 minutes of Q&A. So let me start.

In Q3, our sales rose by 33% compared to the third quarter of '21. I think it shows a strong growth and it demonstrates once again the relevance of our positioning and our growth potential. Like-for-like, OE sales grew by 24%. And on a pro forma basis, it means after adjusting the Q3 '21 figures for the high-voltage business, formerly known as Valeo Siemens eAutomotive, like-for-like growth comes out at 26%. You remember that during the presentation on February 25 of our strategic plan that I called to move-up, I

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