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Valeo’s first half sales growth of 15%

Recently, Valeo announced the first half of 2015, company earnings and performance status. Reported in the first half of this year, the Group's consolidated sales reached 7.3 billion euros, compared with the same period in 2014, an increase of 15%; Group orders amounted to 10.7 billion euros, up 18%; operating profit up 23%, accounting for 7.4 of total sales %; net profit growth of 34%; free cash flow it reached 306 million euros.

Earnings data show that the first half of this year, Valeo's consolidated sales reached 7.3 billion euros, jumped 18 percent; supporting OE sales reached 6.316 billion euros, surged 16 percent, higher than the global automotive market 6 percent; operating profit up an increase of 23 percent, accounting for 7.4% of total sales; net profit surged 34 percent to 344 million euros. Among them, the OEMs supporting sales from the Chinese market grew 10%, exceeding market growth of vehicle production in the same period of five percentage points; 25% contribution to the Chinese market orders accounted for the Group's total orders, of which there are 44% from China's domestic automobile manufacturers.

In the first half, revenue Valeo's four divisions have achieved double-digit growth. In the second quarter, Valeo comfort and driver assistance systems sales jumped 19 percent year on year, reaching 679 million euros; powertrain systems up 15 percent to 978 million euros; Thermal Systems Division revenues 1.039 billion euros, an upgrade 11%; Visual Systems Group revenue jumped 16% to 1.072 billion euros. 30% of the Group's total orders comes from innovative products.

On this basis, in the raw materials and the exchange rate remained unchanged and is based on the premise of the global automotive market growth of about 2% to 3%, China's auto market production growth of about 4% to 5% of the forecast, Valeo Group identified two main goals the year 2015: one in the major production regions, including China, continue to be higher than the average market performance, to achieve sustainable development; the second is to strive for full-year group operating profit growth higher than six months of 7.4%.

Valeo Group CEO Jacques Bois A Shen said, "we have made in the first half results indicate: Valeo will be completed this investment group People's Congress proposed medium-term development plan ahead." It is reported that Valeo's medium-term development plan clearly states: In terms of sales, the Group targets 2020 sales of over 20 billion euros; between 2015-2020, the average amount of orders exceeds the market average 5 percent annually; in improve profitability, the Group targets to 2020, the proportion of sales operating profit increased to 8% to 9%.

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