Valeo sees more growth from electrification, automation as orders hit record

Valeo forecasts strong sales growth this year, as record 2022 orders helped by demand for car electrification and driving-assistance technology helped it navigate a challenging year for the automotive sector. The group is targeting sales of between 22 billion and 23 billion euros this year, against the 20.04 billion posted for 2022, the company said in a statement. The supplier's record order intake of 32.6 billion euros in 2022 included many orders for electric-vehicle components and ADAS technology, CEO Christophe Périllat told reporters in a call. The company's core profit (EBITDA) for 2022 came in at 2.40 billion euros, above the 2.34 billion expected by analysts in a company-provided poll. 11 on the Automotive News Europe list of the top 100 global suppliers with worldwide sales to automakers of $16.7 billion in 2021.