Press release – Q1 2023 Sales
Solid start to 2023
15% growth in sales in first quarter, to 5.5 billion euros
- Sales up 15% as reported to 5,482 million euros
- Original equipment sales up 13% like for like on an adjusted basis
- Acceleration in the high-voltage electric powertrain business,
- original equipment sales up 69% like for like
- new orders for around 4 billion euros, including for Valeo 800V SiC inverter technology
- Acceleration in the ADAS business, with original equipment sales up 21% like for like
- Aftermarket sales up 6% like for like on an adjusted basis
- 2023 guidance confirmed
“Our first-quarter sales, up 15% to 5.5 billion euros, reflect a solid start to 2023 for Valeo.
This performance was supported by the acceleration in our high-voltage electric powertrain and ADAS businesses, which posted like-for-like growth of 69% and 21%, respectively, over the period.
Business activity in these two areas is very strong, lifted by market momentum and by the positioning of our technology portfolio. In particular, since the beginning of the year, the high-voltage electric powertrain business has recorded significant order intake of around 4 billion euros, covering all regions and technologies, notably the 800V SiC inverter.
In a year marked by a rise in energy prices and wages, optimizing our costs and negotiating compensation with our customers are our main priorities on the road to our 2023 objectives.“
Christophe Périllat, Valeo’s Chief Executive Officer
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