Valeo’s Net Profit Climbs 20% in First Half
Valeo SA reports that its revenue in the first half of 2017 grew 16% to €9.5 billion ($11 billion), and net income rose 20% to €506 million ($589 million).
Sales in January-June climbed 11% for the French supplier’s lighting and thermal systems businesses. Volume was driven by increased demand for LED lighting modules and the industry’s drive to lower carbon dioxide emissions.
Sales by Valeo’s powertrain unit advanced 6% to €2.2 billion in the first half. During the same period, sales grew 7% to €1.8 billion for the company’s comfort and driving assistance systems group.
Valeo says its intake of new orders in the first half rose 16% to €14.9 billion year on year. Asia contributed 41% of the increase, followed by Europe/Africa (36%) and North American (20%).
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