Valeo’s H1 net income drops 64% y/y to USD184 million
French supplier secures new business orders of EUR11.1 billion in first six months of current financial year
Valeo has reported 64.2% year-over-year (y/y) decline in net income to EUR162 million (USD184 million) in the first half ended 30 June 2019, the French supplier said in a press release on 25 July. Sales dropped marginally, by 0.9 % y/y, to EUR9.78 billion. On like-for-like basis, sales declined 2% y/y. Lower sales also impacted Valeo’s operating income which decreased 31.9% y/y to EUR514 million.