Operating margin(1) up 22% to 1,116 million euros, or 7.7% of sales
Net income up 30% to 729 million euros, or 5.0% of sales
Free cash flow(2) up 73% to 565 million euros
Order intake(2) up 15% to 20.1 billion euros

Jacques Aschenbroich, Valeo's Chief Executive Officer, commented:
'Valeo's 2015 results reflect the excellent work carried out by our teams over the past few years to develop a more diverse customer portfolio, strengthen our products' technological advantage and further align our businesses geographically. Sales accelerated throughout 2015 and outperformed the market in all world regions despite market volatility in some of our geographies, once again demonstrating the solidity of our growth model. This growth was accompanied by a 22% increase in our operating margin to 7.7% of sales, as well as a 30% increase in net income and a 73% increase in free cash flow. Our record order intake - which stands at 20.1 billion euros - reflects the commercial success of our technologies for CO2 emissions reduction and intuitive driving. This strong momentum confirms that we are on course to meet our objectives for 2020, presented in London in March 2015.'

Fourth-quarter 2015

  • Sales of 3,797 million euros, up 488 million euros or 15% year on year (9% on a like-for-like basis)

Second-half 2015

  • Sales of 7,246 million euros, up 14% (8% on a like-for-like basis)
  • Operating margin(1) up 21% to 578 million euros, or 8.0% of sales
  • Net attributable income up 26% to 385 million euros, or 5.3% of sales Excluding non-recurring items, net income rose 46% to 468 million euros, or 6.5% of sales
  • Free cash flow(2) of 259 million euros, up 49% year on year

Full-year 2015

  • Order intake(2) of 20.1 billion euros, up 15% ·
  • Sales of 14,544 million euros, up 14% (7% on a like-for-like basis)
  • Original equipment sales of 12,600 million euros, up 16% (8% on a like-for-like basis) and outpacing global automotive production by 6 percentage points
  • Operating margin(1) up 22% to 1,116 million euros, or 7.7% of sales
  • Net attributable income up 30% to 729 million euros, or 5.0% of sales Excluding non-recurring items, net income rose 39% to 825 million euros, or 5.7% of sales
  • Free cash flow(2) of 565 million euros, up 73% year on year

.../....

Valeo SA issued this content on 18 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 February 2016 17:03:30 UTC

Original Document: http://www.valeo.com/en/journalists/news/sales-up-14-to-14-5-billion-euros-10751.html