Valeo SA Reports Consolidated Sales Results for the Third Quarter and Nine Months of 2018 and Production Results for the Third Quarter of 2018; Provides Earnings for the Full Year 2018
For the nine months, the company's consolidated sales of EUR 14,427 million, up 8% at constant exchange rates and up 2% like for like.
The company provided earnings guidance for the full year of fiscal 2018. For the year, the company expects growth of around 6% at constant exchange rates; original equipment sales outperformance of around 2 percentage points in the second half; operating margin excluding share in net earnings of equity-accounted companies (as a % of sales) at between 6.2% and 6.5% of sales.
In the third quarter of 2018, automotive production contracted by 3% compared with the same period in 2017.