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Valeo: Accelerated Sales Growth, Up 36% At End September

7 October 1999

Valeo: Accelerated Sales Growth, Up 36% At End September

    PARIS--Oct. 6, 1999--Valeo's consolidated sales at the end of September 1999 totaled 5,679 million euros, up by 36% over the first nine months of 1998.
    Sales rose by 41% in the third quarter 1999, compared with 33% for the first half year. They were boosted by the still buoyant activity in Europe (+19%) and in North America (+150%), by accelerating growth in Asia (+151%) and by a lesser decline in South America (-26%). This increase reflects the net extension of the Group's consolidated reporting entity, together with a strengthening of internal growth.
    Internal growth, excluding South America, was 4.9% for the first nine months of 1999 and 5.6% for the third quarter alone. With South America included, these figures were 2.1% and 3.3% respectively.
    The dynamism of the automotive market should continue to sustain Valeo's business during the last few months of the year. The Group's last quarter sales figure will include the activities of Electrical Systems consolidated at the end of September 1998.
    Valeo ranks among the world's top 10 automotive suppliers. It employs 50,400 people at 113 production plants, 29 R&D centers and 10 distribution centers in 20 countries worldwide.
    For more information on the Group and its business, please consult our website: www.valeo.com