Valeo Flux actualités valeo Wed, 14 Jun 2017 15:33:21 +0200 Zend_Feed_Writer 1.12.0 (http://framework.zend.com) http://www.valeo.com admin@valeo.com (valeo) valeo Valeo launches an employee share offering Paris, May 29, 2017 - Valeo announces the launch of a share subscription offering reserved for employees. Around 85 000 Group employees are eligible to the offering proposed in 21 countries. The main terms of this offering are described below.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-launches-an-employee-share-offering-11040.html http://www.valeo.us/journalistes/actualite/valeo-launches-an-employee-share-offering-11040.html ISSUER
Valeo, a French Société Anonyme with a share capital of EUR 239 143 131 having its registered office at 43, rue Bayen – 75017 Paris Cedex 17 – France, and registered in the trade registry of Paris
under number 552 030 967 (the “Company”)
Listed on Euronext Paris (France)
ISIN code: FR0013176526 FR

PURPOSE OF THE OFFERING
This plan is part of the development of the employee shareholding policy of Valeo in France and abroad with the goal to involve employees in the performance of the Group.

CONTEXT OF THE OFFER – SECURITIES OFFERED
The offer is proposed pursuant to Articles L. 3332-18 et seq. of the French Labor Code, in the context of the French group savings plan (plan d’épargne de groupe, PEG) and the international group savings plan (plan d’epargne de groupe international, PEGI) of Valeo.
The subscription of shares is made on the basis of the Company’s shareholder’s authorisation given by the 20th resolution of the extraordinary general meeting of shareholders of May 26, 2015.
Employees subscribing to offering out of France will benefit from the grant of shares for free based on the 20th resolution of the extraordinary general meeting of shareholders of May 26, 2016.
The share subscription offering covers a maximum of 4,244,489 Valeo shares with a nominal value of EUR 1 per share.
The shares will bear dividend entitlements from January 1, 2017 and will be fully fungible with existing shares upon their issuance.

SUBSCRIPTION TERMS
Beneficiaries of the offering
The offering is proposed to employees having a seniority of at least three months, achieved consecutively or not, between January 1, 2016 and the last day of the subscription period with a Valeo Group company member of the PEG or the PEGI, as the case may be, included in the scope of the offering composed of the following countries: France, Belgium, Brazil, China, Czech Republic, Egypt, Germany, Hungary, India, Indonesia, Ireland, Italy, Mexico, Poland, Romania, South Korea, Spain, Thailand, Turkey and USA. Acquisition of shares will also be available in Japan, based on a specific timeframe and conditions.
The offer is also open in France to the employees on retirement or pre-retirement having kept assets in the PEG since their departure from the group.

Subscription formula
Beneficiaries of the offering
Employees may subscribe shares either through the company shareholding fund (fonds commun de placement d’entreprise, FCPE) "Valeorizon Relais 2017" intended to merge with the FCPE "Valeorizon" after the approval of the Supervisory board of the FCPE and of the AMF, or, in some countries, through direct shareholding. The employee's investment will fluctuate in the same manner as the price of the Valeo share, both increasing or decreasing.
The subscription of shares allows employees subscribing in context of the PEG to benefit from a matching contribution of their employer.
Outside of France, employees will be awarded conditional shares for free according to the terms and conditions of the plan rules adopted by the Company. The free shares are existing shares of Valeo which have been repurchased by the Company.

Custody of shares - Exercise of voting rights
Subscription is carried out through an FCPE or, in certain countries, by direct shareholding. When the shares are subscribed through an FCPE, the voting rights are exercised by the Supervisory Board (conseil de surveillance) of the FCPE.
With regard to the shares subscribed for directly, the voting rights are exercised by the subscribers.

Subscription price
The subscription price will correspond to the average of opening prices of Valeo shares on 20 trading days from May 8, 2017 to June 2, 2017, after a discount of 20%.

Subscription period
The beneficiaries may subscribe to the offering from June 6, 2017 (inclusive) to June 19, 2017 (inclusive).

Lock-up of the shares
Subject to specific provisions applicable in certain countries, the FCPE units as well as the shares subscribed directly will be subject to a lock-up period of 5 years as provided for in the PEG and the PEGI, except early exit event provided for in Articles L. 3332-25 and R. 3324-22 of the French Labor Code, and as applicable in different countries of implementation of the offering.

CAPITAL INCREASE AND LISTING OF SHARES
The capital increase and the delivery of Valeo shares under the offer should take place on July 27, 2017. An application for listing on Euronext Paris of the Valeo shares issued in the context of this offering will be filed as soon as possible following the capital increase on the same line of listing as the existing shares.

LEGAL NOTICE
This press release should not be considered as a form of canvassing or solicitation for the subscription of Valeo shares.
The offering is strictly reserved to the beneficiaries mentioned in this press release and will be implemented only in countries where such an offering has been registered or notified to the competent local authorities and/or following the approval of a prospectus by the competent local authorities or in consideration of exemption from the requirement to prepare a prospectus or to proceed to registration or notification of the offering.
More generally, the offering will only be conducted in countries where all procedures of registering and/or notifications have been completed and the necessary authorizations have been obtained.

CONTACT
For any questions regarding the offering, beneficiaries may contact their Human Resources manager and/or any other person as indicated in the documentation relating to the offering provided to beneficiaries.
This document is established under Articles 212-4, 5° and 212-5, 6° of the General Regulations of the French Autorité des marchés financiers and Article 14 of the French Autorité des marches Financiers instruction n° 2005-11 of December 13, 2005.



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 166 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 100,900 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris
+33 6 21 47 88 69 | +33 6 81 73 83 41 | +33 7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
Follow us on @Valeo_Group

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2017 annual shareholder’s meeting Paris, May 23, 2017 - Valeo's Annual Shareholders' Meeting was held today under the chairmanship
of Jacques Aschenbroich, Chairman and Chief Executive Officer. All of the resolutions put to the meeting were adopted.]]>
Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/2017-annual-shareholder-s-meeting-11032.html http://www.valeo.us/journalistes/actualite/2017-annual-shareholder-s-meeting-11032.html During the meeting, shareholders approved the 2016 financial statements published on February 15, 2017 as well as a dividend of 1.25 euros per share, up 25% on 2015. The ex-dividend date is set at May 30, 2017, and the record date at May 31, 2017. The dividend will be paid on June 1, 2017.

The shareholders renewed the terms of office of C. Maury Devine, Mari-Noëlle Jégo-Laveissière and Véronique Weill as directors. In the absence of replacements for Gérard Blanc and Sophie Dutordoir, who decided not to seek re-appointment as directors, the Board of Directors now has 12 members.

Shareholders adopted the "say on pay" resolution concerning the compensation of Valeo's executive corporate officers for 2016, the compensation policy applicable to the Chairman and Chief Executive Officer for 2017, and the renewal of the authorizations and delegations granted to the Board of Directors to carry out share buybacks and issue shares and/or securities.

Lastly, shareholders approved amendments to the articles of association concerning the procedures for appointing directors representing employees.



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 166 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 100,900 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris
+33 6 21 47 88 69 | +33 6 81 73 83 41 | +33 7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
Follow us on @Valeo_Group

]]>
Valeo NA Earns Top Supplier Diversity Honors from General Motors Troy, Mich. May 19, 2017 – For the second consecutive year, Valeo North America was recognized with a General Motors Supplier Diversity Award. Valeo NA received GM’s 2017 Supplier IMPACT Gold Award at the automaker’s annual IMPACT Awards meeting held at Detroit’s COBO Center on May 4.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-na-earns-top-supplier-diversity-honors-from-general-motors-11042.html http://www.valeo.us/journalistes/actualite/valeo-na-earns-top-supplier-diversity-honors-from-general-motors-11042.html The Supplier Diversity Awards recognize the top 50 suppliers who have excelled in Tier 2 diversity spend. The Gold distinction is awarded to IMPACT award winners who rank in the top 50 and excelled in one additional area beyond top spend. Valeo NA also was recognized for its Year-Over-Year Performance to Goal.

“Valeo falls within the top 12 suppliers for year-over-year improvement in performance to the goal,” said Art McClellan, Valeo NA Purchasing Segment Leader for Supplier Diversity Recruitment. “This shows that when we put forth the effort and focus on a goal, we can achieve it. We want to continue this progress.”

Supplier diversity is a strategic business process for Valeo NA and demonstrates the company’s commitment to Sustainable Development. Valeo is committed to developing and maintaining supplier relationships that provide a source of competitive advantage. Having a diversity program allows Valeo to provide an opportunity for minority, women and veteran owned businesses to participate in the company’s procurement process.

GM is proud to work with Valeo who has excelled in their Supplier Diversity program and who has worked hard to impact their company’s supply chain with certified, innovative diverse suppliers,” said Donna Gilmer, Supplier Diversity Program Manager, GM.

General Motors was the first automotive OEM to establish a formal supplier diversity program in 1968.

Valeo North America contact:
Daniel Saad – Region Communications Director
dan.saad@valeo.com
O: 248-619-8377



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 166 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 100,900 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris
+33 (0)1 40 55 37 18 | +33 (0)1 40 55 21 20
press-contact.mailbox@valeo.com
@Valeo_Group

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Acquisition of shares Paris, May 15, 2017 – Valeo has requested the assistance of an Investment Services Provider in order to achieve certain objectives of its Share Buy-back Program, as authorized by the Combined Annual General Shareholders’ Meeting of May 26, 2016.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/acquisition-of-shares-11035.html http://www.valeo.us/journalistes/actualite/acquisition-of-shares-11035.html According to the terms of the Contract signed on March 6, 2017, Valeo acquired 1 228 009 shares on May 12, 2017 at an average price of 61.0745 euros.

All these shares will be allocated to cover the implementation of any stock option purchase plan, the allotment of shares to employees in respect of their participation in the proceeds of the company’s expansion and the implantation of any company savings plan.



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 166 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 100,900 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Valeo
43 rue Bayen, 75017 Paris
www.valeo.com
@Valeo_Group
Media Relations
+33 (0)1 40 55 21 20
press-contact.mailbox@valeo.com
Investor Relations
+33 (0)1 40 55 37 93
thierry.lacorre@valeo.com

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2017 Valeo Innovation Challenge: 24 teams heading for the final Paris, March 24, 2017 – Valeo today announced the 24 teams selected to move onto the second stage of its global competition, the Valeo Innovation Challenge. Selected from a total of 1,628 participating teams by 70 Valeo experts and independent scientists, the 24 semi-finalist teams hail from 13 countries across 23 universities and schools.*]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/2017-valeo-innovation-challenge-24-teams-heading-for-the-final-11033.html http://www.valeo.us/journalistes/actualite/2017-valeo-innovation-challenge-24-teams-heading-for-the-final-11033.html There are 11 teams competing in the "technological innovation" category and 13 in the "idea for new ways of using cars" category. The projects mainly relate to safety and cyber-security, as well as cabin comfort and well-being, new user practices and more environmentally friendly driving.

The selected teams now have until July 13 to develop, fine-tune, test and prototype their ideas, each using a €5,000 grant from Valeo. When this stage is complete, eight finalist teams will be shortlisted to present their project to a grand jury. Headed by Valeo's Chairman and CEO Jacques Aschenbroich, the jury is made up of members of the Group's Management team as well as eminent scientists and business leaders. The winners will be announced on October 27.

Teams will be competing to win a grand prize of €100,000 or a second-place prize of €10,000, in one of the following categories: "technological innovation" and "idea for new ways of using cars". In addition, the winning team in the "technological innovation" category will, for the first time ever, be given the opportunity to join a Valeo-partnered start-up accelerator to develop their project.

Enthusiasm for the Valeo Innovation Challenge is stronger than ever in the contest's fourth year, with participation at a record high. Nearly 5,000 students from around the world and 1,628 teams from 80 countries and 748 universities and schools have signed up to compete. The Valeo Innovation Challenge is an opportunity for students worldwide to play an active role in automotive innovation by imagining the technologies and user practices that will shape the car of tomorrow.

*The participating teams represent the following universities and schools: Internatsschule Schloss Hansenberghe (Germany), Chongqing University and Tongji University (China), Egypt-Japan University of Science and Technology (Egypt), University of Granada (Spain), Ecole Polytechnique de l’Université d’Orléans, HEC, EDHEC Business School, University of Technology of Compiègne and Ecole Supérieure d’Ingénieurs Leonard de Vinci (France), National Technical University of Athens (Greece), Mantra Academy, Sri Sivasubramaniya Nadar College of engineering, Manav Rachna College of engineering, Indian Institute of technology Roorkee and Anna University (India), Gadjah Mada University (Indonesia), Sharif University of Technology (Iran), MIP Politecnico di Milano (Italy), Autonomous University of San Luis Potosí (Mexico), Jan Matejko Academy of Fine Arts and Warsaw University of Technology (Poland) and Togliatti Academy of Management (Russia).

For more information: https://valeoinnovationchallenge.valeo.com/

Timetable

  • March 24, 2017 – July 13, 2017: Teams each given €5,000 to develop their project
  • September 13, 2017: Eight finalist teams announced
  • October 26, 2017: Projects presented to the jury
  • October 27, 2017: Winners announced



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 166 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 100,900 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris
+33 6 21 47 88 69 | +33 6 81 73 83 41 | +33 7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
Follow us on @Valeo_Group

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Valeo Again Earns 2017 ‘Top Employer’ Certification in the U.S. and Mexico Troy, Mich. March 16, 2017 - Valeo has been certified as a Top Employer in the United States and Mexico by the Top Employers Institute for 2017, its fourth year in a row. Valeo also is one of only 10 companies to earn Global Top Employer certification, achieving this honor for the third year in a row.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-again-earns-2017-top-employer-certification-in-the-u-s-and-mexico-11019.html http://www.valeo.us/journalistes/actualite/valeo-again-earns-2017-top-employer-certification-in-the-u-s-and-mexico-11019.html In North America, Valeo has quadrupled its revenue and tripled its workforce over the past several years and continues to grow, seeking new talent throughout the region.

“The Top employer certification is a key element in our Talent Strategy. In our current ‘Talent War’, very strong in North America, this is an asset to attract talented new comers. But it demonstrates as well our ambition to be a nice place to work and to offer several possibilities for our employees personal development,” said Grégoire Ast, National HR Director for Valeo North America. “To get this certification, the fourth in a row, we are audited on our talent development processes and well-being at work programs. We walk the talk, let me thank all our teams involved in that achievement.”

With an ambitious strategic vision, Valeo’s innovative products, systems and solutions contribute to reducing carbon emissions and to the development of intuitive driving technologies, making cars cleaner, safer and smarter. Valeo is helping transform the auto industry from mechanics to electronics and software, working with traditional customers and new players in mobility at its growing R&D centers throughout the region.

To qualify for the Global Top Employer label, 20 countries must be certified individually on five continents. Valeo earned Top Employer certification in 23 countries on five continents, including Belgium for the first time this year.

Top Employer certification is based on a variety of criteria, including talent strategy and performance management, where Valeo earned the highest scores.

Top Employer certification, awarded by the Top Employers Institute, recognizes organizations that demonstrate the best human resources management practices, particularly in the areas of attracting and developing talent, compensation and benefits, training and leadership development.

For information about Valeo career opportunities visit http://www.valeo.com/en/working-at-valeo/.

About the Top Employers Institute: Founded in 1991, the Top Employers Institute is a global certification company recognizing excellence in the conditions that employers create for their people. The institute has been identifying Top Employers around the world for more than 25 years, creating a community of more than 1,200 Top Employers across 116 countries today.

About Valeo North America: In North America, Valeo’s regional headquarters are located in Troy, Mich., and the company has 21 production sites and eight research and development centers. The company employs 14,000 people across the United States, Mexico and Canada, and was responsible for 24 % of the Group’s 2016 global annual original equipment sales.

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of €16.5 billion and invested over 11% of its original equipment sales in research and development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
150 Stephenson Hwy, Troy MI 48083
+1 (248) 619-8377
dan.saad@valeo.com
www.valeo.com
Follow us on @Valeo_Group

]]>
Valeo acquires gestigon, a developer of cabin 3D image processing software Paris, March 13th, 2017 – Valeo has acquired all of the outstanding shares of gestigon, a German start-up specialized in developing 3D image processing software for the vehicle cabin.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-acquires-gestigon-a-developer-of-cabin-3d-image-processing-software-11023.html http://www.valeo.us/journalistes/actualite/valeo-acquires-gestigon-a-developer-of-cabin-3d-image-processing-software-11023.html Designed to reinforce Valeo's technological leadership in automated driving, this acquisition provides a solution to the need to develop simple, intuitive and effective human-machine interfaces (HMI) in a hyper-connected world. With the acquisition, Valeo will be able to develop its cabin comfort and driving assistance operations, particularly in high-growth technologies such as interior cameras and image processing.

These technologies are increasingly a key differentiating factor in the automotive industry, and gestigon's cutting-edge artificial intelligence-based solutions will contribute to the development of Valeo's automated driving strategy. The start-up's software suite, which is compatible with all types of in-vehicle gesture and movement recognition sensors, signals a real technological breakthrough.

Building on Valeo's existing Driver Monitoring system, which can sense driver drowsiness or distraction, the acquisition will lead to the development of a comprehensive offering of object and occupant detection features. Going forward, the vehicle will be able to analyze the cabin environment and seamlessly adapt to the occupants' safety needs – by activating airbags, for example.

"We are delighted to welcome gestigon to the Valeo community," said Marc Vrecko, head of Valeo's Comfort and Driving Assistance Systems Business Group. "A leader in human-machine interface solutions, this start-up enjoys recognized expertise in the automotive industry. By combining our skills in a larger team, we will sharpen our edge and reinforce our leadership in autonomous and connected cars."

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of €16.5 billion and invested over 11% of its original equipment sales in research and development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris, France
+33 6 21 47 88 69 | +33 7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
@Valeo_Group

]]>
Valeo North America Earns Regional Honor at Toyota Global Supplier Convention Troy, Mich. March 13, 2017 - Valeo North America was presented the Global Level Award for Regional Contribution at the 2017 Toyota Global Supplier Convention on February 24 in Nagoya, Japan.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-north-america-earns-regional-honor-at-toyota-global-supplier-convention-11021.html http://www.valeo.us/journalistes/actualite/valeo-north-america-earns-regional-honor-at-toyota-global-supplier-convention-11021.html Christophe Perillat, Valeo Chief Operating Officer, attended representing the Valeo Group; Ryuji Saito, Group President Japan attended representing Valeo in the region; and Françoise Colpron, Group President North America, accepted the award on behalf of Valeo North America.

The Global Level Regional Contribution Awards honor Toyota suppliers who have greatly contributed to Toyota vehicle production in the areas of quality, cost and reliability of on-time delivery.

Representatives of Toyota suppliers from around the world attended the convention. Valeo North America was one of only nine suppliers honored with a Regional Contribution Award at the event.

About Valeo North America: In North America, Valeo’s regional headquarters are located in Troy, Mich., and the company has 21 production sites and eight research and development centers. The company employs 14,000 people across the United States, Mexico and Canada, and was responsible for 24 % of the Group’s 2016 global annual original equipment sales.

For information in North America, please contact:
Daniel Saad, Region Communications Director
Phone: +1 (248) 619-8377
E-mail: dan.saad@valeo.com

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of €16.5 billion and invested over 11% of its original equipment sales in research and development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contact
43 rue Bayen, 75017 Paris, France
+33 6 21 47 88 69 | +33 7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
@Valeo_Group

]]>
Valeo unveils its new medium-term objectives London, February 28, 2017 – Valeo (Euronext: FR) is aiming to continue and accelerate its growth strategy presented in March 2015 and is setting new financial objectives through 2021:]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/valeo-unveils-its-new-medium-term-objectives-11025.html http://www.valeo.us/journalistes/actualite/valeo-unveils-its-new-medium-term-objectives-11025.html Valeo (Euronext: FR) is aiming to continue and accelerate its growth strategy presented in March 2015 and is setting new financial objectives through 2021:

  • Sales of over 27 billion euros(1), reflecting an average outperformance of more than 7 percentage points for the 2016-2021 period compared to global automotive production, and average annual sales growth in excess of 10%

  • Operating margin(2) (as a percentage of sales) of around 9%

  • Free cash flow(2) of 3.7 billion euros over the 2017-2021 period, twice the level recorded over the 2012-2016 period of 2 billion euros

Jacques Aschenbroich, Valeo's Chairman and Chief Executive Officer, commented:

"Thanks to the commitment of all our teams, over the last few years we have built a new, more innovative, technologically focused, dynamic and profitable Valeo. By leveraging the growth opportunities in the automotive industry for electrification, autonomous and connected vehicles, as well as new mobility services driven by digital technology, Valeo is embarking on a virtuous circle of profitable growth underpinned by sustained Research and Development efforts and a selective acquisition policy, allowing us to strengthen our positions on the main markets as well as our technological leadership.
All four of our Business Groups will leverage this potential, undergoing several waves of growth as these new technologies enter production."

During the Investor Day, Jacques Aschenbroich, Chairman and Chief Executive Officer, Christophe Périllat, Chief Operating Officer, Robert Charvier, Chief Financial Officer, and the Presidents and the R&D and Product Marketing Directors of the four Business Groups (Xavier Dupont and Michel Forissier for Powertrain Systems, Francisco Moreno and François Bordes for Thermal Systems, Marc Vrecko and Joachim Mathes for Comfort & Driving Assistance Systems, and Maurizio Martinelli and Christophe Le Ligné for Visibility Systems) will present the new strategic plan and medium-term financial objectives for the Group and its four Business Groups.

As the world leader in CO2 emissions reduction and intuitive driving (particularly autonomous vehicles), Valeo is intent on continuing its R&D efforts in order to meet its customers' needs and leverage new growth opportunities for electrification, autonomous and connected vehicles, as well as new mobility services driven by digital technology.

Valeo has solid fundamentals thanks to its diversified customer and geographic positioning with an increasing footprint in high-growth potential regions, notably in Asia. Accentuating this trend over the next five years will help Valeo pursue its geographical repositioning, with around 37% of original equipment sales projected to be generated in Asia by 2021, versus 27% in 2016.

Focus on accelerating growth, improving profitability and increasing free cash flow in each of the Business Groups

Driven by growth in the order intake(2) due to the success of its innovations (half of the order intake(2) in 2016), the Group is aiming to accelerate organic growth on the back of higher content per vehicle and a better product mix, to improve profitability and increase free cash flow(2).

All four of our Business Groups will leverage this potential stemming from the new opportunities within the automotive industry and will undergo several waves of growth as these new technologies enter production.

Accelerating organic growth and boosting operational excellence
Leveraging the record level of its order intake(2) over the past few years, Valeo is aiming to achieve average annual organic growth more than 7 percentage points above global automotive production on the back of its innovation-fueled product mix. Assuming that global automotive production increases by an annual average of 2.3% over the next five years, sales would therefore rise to more than 22.5 billion euros(1) in 2019 and would exceed 27 billion euros(1) by 2021 (versus 16.5 billion euros in 2016).

Improving operating margin(2)
Valeo is aiming to leverage this sales growth to improve profitability, and has set a target for operating margin(2) (as a percentage of sales) of around 8.5% and 9% for 2019 and 2021, respectively, versus 8.1% in 2016.

Doubling free cash flow(2)
Valeo is aiming to double its free cash flow(2) generation to 3.7 billion euros over the 2017-2021 period, versus 2 billion euros over the 2012-2016 period.

Profitability indicators
Within the scope of its medium-term plan characterized by strong growth in production capacity, particularly in Asia, Valeo is aiming to achieve a return on capital employed (ROCE(2)) of around 30% and a return on assets (ROA(2)) of more than 20%.

Attendees at the Investor Day will be able to learn more about Valeo's latest innovations and see product presentations demonstrating what will drive the growth of our four Business Groups.



Financial Glossary

  • Order intake corresponds to business awarded by automakers during the period (including joint ventures at least 50%-owned by the Group) less any cancellations, based on Valeo's best reasonable estimates in terms of volumes, selling prices and project lifespans. Unaudited indicator.

  • Operating margin including share in net earnings of equity-accounted companies corresponds to operating income before other income and expenses.

  • ROCE, or return on capital employed, corresponds to operating margin (including share in net earnings of equity-accounted companies) divided by capital employed (including investments in equity-accounted companies) excluding goodwill.

  • ROA, or return on assets, corresponds to operating income divided by capital employed (including investments in equity-accounted companies) including goodwill.

  • Free cash flow corresponds to net cash from operating activities (excluding the change in non-recurring sales of receivables) after taking into account acquisitions and disposals of property, plant and equipment and intangible assets.



Safe Harbor Statement
Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements". These statements include projections and estimates and their underlying assumptions, statements regarding projects, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Even though Valeo's management feels that the Forward-Looking Statements are reasonable as at the date of this press release, investors are put on notice that the Forward-Looking Statements are subject to numerous factors, risks and uncertainties that are difficult to predict and generally beyond Valeo's control, which could cause actual results and events to differ materially from those expressed or projected in the Forward-Looking Statements. Such factors include, among others, the Company’s ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions. The risks and uncertainties to which Valeo is exposed mainly comprise the risks resulting from the investigations currently being carried out by the antitrust authorities as identified in the Registration Document and risks relating to legal action resulting from such investigations, risks which relate to being a supplier in the automotive industry and to the development of new products and risks due to certain global and regional economic conditions. Also included are environmental and industrial risks as well as risks and uncertainties described or identified in the public documents submitted by Valeo to the French financial markets authority (Autorité des marchés financiers – AMF), including those set out in the “Risk Factors” section of Valeo’s Registration Document registered with the AMF on March 26, 2016 (under no. D.16-0211).

Valeo has recognized an expense of 99 million euros in its consolidated financial statements to cover the main risks resulting from investigations currently being carried out by the antitrust authorities, as identified in the Registration Document, and risks relating to legal action resulting from such investigations.

The company assumes no responsibility for any analyses issued by analysts and any other information prepared by third parties which may be used in this press release. Valeo does not intend or assume any obligation to review or to confirm the estimates of analysts or to update any Forward-Looking Statements to reflect events or circumstances which occur subsequent to the date of this press release.



Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide.
Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

VALEO
43 rue Bayen, 75017 Paris
www.valeo.com
@Valeo_Group
Media Relations
+33 (0)1 40 55 29 72 |
+33 (0)1 40 55 21 20
press-contact.mailbox@valeo.com
Investor Relations
+33 (0)1 40 55 37 93
thierry.lacorre@valeo.com



(1) Including Ichikoh, Valeo-Kapec and FTE.
(2)See Financial Glossary, page 3.

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Nearly 5,000 students in the running to win the 2017 Valeo Innovation Challenge Paris, February 20, 2017 – Enthusiasm for the Valeo Innovation Challenge is as strong as ever in the contest's fourth year, new participation record. Nearly 5 000 students from around the world have signed up to participate.]]> Wed, 14 Jun 2017 15:33:21 +0200 http://www.valeo.us/journalistes/actualite/nearly-5-000-students-in-the-running-to-win-the-2017-valeo-innovation-challenge-11006.html http://www.valeo.us/journalistes/actualite/nearly-5-000-students-in-the-running-to-win-the-2017-valeo-innovation-challenge-11006.html In all, 1 628 teams (21% more than the previous edition) hailing from 80 countries and 748 universities have submitted their application in one of the two available categories. Some of the world's most prestigious universities are represented, including MIT, Berkeley, HEC, Supelec Tokyo University, British Columbia.

70% of teams are competing in the “technological innovation” category and 30% in the “idea for new ways of using cars” category.

This year's challenge comes with the option of including a teacher on the competing team. As a result, 162 teachers have registered to team up with their students.

Teams in each category will be competing to win a grand prize of €100,000 or a second-place prize of €10,000. In addition, the winning team in the “technological innovation” category will, for the first time ever, be given the opportunity to join a Valeo-partnered start-up accelerator to develop their project.

The contest's continued success shows that students are passionate about the task at hand, which is to “come up with an innovation or idea that will make cars smarter, cleaner, more fun and more intuitive by 2030.”

Starting today, 70 Valeo experts scattered across the Group's R&D centers worldwide – as well as a number of independent scientists – will examine each of the projects in order to select 24 teams that will advance to the next round. The 24 short-listed teams will be announced on March 24, 2017, after which Valeo will grant them each €5,000 to develop their idea by building a functional prototype, application or other solution. The teams will have until July 13 to develop their project. Eight finalist teams will be selected on September 13 and the winners will be announced on October 27.

For more information: https://valeoinnovationchallenge.valeo.com/

Timetable

  • March 24, 2017: 24 semi-finalist teams announced
  • March 24, 2017 – July 13, 2017: Teams given €5,000 to develop their project
  • September 13, 2017: Eight finalist teams announced
  • October 26, 2017: Projects presented to the panel
  • October 27, 2017: Winners announced

Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide.
Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

Contacts:
43 rue Bayen, 75017 Paris
+33 (0)1 40 55 21 20 | +33 (0)6 21 47 88 69 | +33 (0)7 64 56 85 48
press-contact.mailbox@valeo.com
www.valeo.com
Follow us on @Valeo_Group

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