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

Half Year 2024 Valeo SE Earnings Call Transcript

Jul 25, 2024 / 04:30PM GMT

Release Date Price: €9.51 (-1.41%)

Transcript

Christophe PÃ;rillat

Valeo SE - CEO & Director

© -

Good evening, everyone. Thank you for attending Valeo's 2024 first semester results video conference. We'll spend one hour together, around 20 minutes of joint presentation with Valeo's CFO, Edouard de Pirey, followed by a Q&A session.

In H1, we continue to improve profitability and cash generation. Our H1 margins and free cash flow are aligned with our full-year guidance. We achieved this, thanks to a strict control of our cost and our cash in a low-market context.

Our sales reached EUR11.1 billion, up 1% compared to H1 '23 on a like-for-like basis. Our EBITDA reached 12.4%, which is up 0.8 points. And our operating margin is at 4.0%, also up 0.8 points compared to H1 '23. And last but not least, our free cash flow has already reached EUR121 million after one-off exceptional costs of our self-help measures. This represents EUR277 million more of cash generation on H1 '23.

I would like now to share with you five important highlights from our first semester, well in line with what we presented last

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