French automotive components maker Valeo SE on Tuesday reported first-quarter gross sales up 15% 12 months on 12 months, in step with expectations.
The end result was pushed by its two most important models – powertrain and driving help (ADAS) companies.
Valeo is betting on the acceleration of automotive electrification and the adoption of superior driving help methods (ADAS), as governments and firms shift in the direction of a low-carbon financial system whereas the automotive trade experiments with the concept of driverless vehicles.
Its Powertrain Programs unit, which produces electrical and transmission methods for vehicles, and generates a few third of revenues, added 33% in like-for-like gross sales in the course of the first quarter.
Particularly, gross sales within the high-voltage electrical powertrain enterprise surged by 69%. It has additionally recorded an order consumption of round 4 billion euros (USD 4.39 billion) over the interval.
“Optimizing our prices and negotiating compensation with our clients are our most important priorities on the highway to our 2023 targets,” mentioned Valeo’s Chief Govt Christophe Perillat.
The agency confirmed its 22-23 billion euros gross sales goal for this 12 months.
Earnings within the three months to March 31 have been 5.48 billion euros, towards the common forecast of 5.46 billion euros from 14 analysts polled by the corporate.
