Valeo’s Q1 22 sales topped analysts’ forecasts by c.5% on the back of strong volume outperformance in every region, Aftermarket sales maintained their momentum and there was a booster FX impact. For those who had expected increased headwinds from the war in Ukraine and lockdowns in China, Valeo answered with a noticeable guidance confirmation from sales to FCF. LVP updated forecast remains within the range used to set the initial outlook. We expect volumes in China to be decisive.
27 Apr 2022
Decent volume-driven Q1 22, guidance confirmation is a plus
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Decent volume-driven Q1 22, guidance confirmation is a plus
Valeo’s Q1 22 sales topped analysts’ forecasts by c.5% on the back of strong volume outperformance in every region, Aftermarket sales maintained their momentum and there was a booster FX impact. For those who had expected increased headwinds from the war in Ukraine and lockdowns in China, Valeo answered with a noticeable guidance confirmation from sales to FCF. LVP updated forecast remains within the range used to set the initial outlook. We expect volumes in China to be decisive.