Valeo beats quarterly sales expectations, but Europe, China lag (updated)
23/04/2026 18:20
Adds graphic, industry forecast in paragraph 2, adds details on sales and guidance in bullet points By Mathias de Rozario April 23 (Reuters) - French car parts supplier Valeo VLOF.PA published a rise in first quarter sales on Thursday, beating market expectations despite continued weakness in the automotive industry. Global automotive production is expected to fall 3.4% this year, according to S&P Global Mobility forecasts published this month. Valeo reported first-quarter sales of 5.12 billion euros ($5.99 billion), up 1.3% on a constant currency basis and above the 5.01 billion euro average in a company-provided consensus. Sales rose year-on-year in Asia excluding China, and North and South America but fell 2.9% in Europe due to a contraction in the power division which sells parts for the electric mobility market. Sales in China fell 8.9% but the drop was contained by growth in its Light division. 90% of the memory volumes to be delivered and required for 2026 have now been secured, finance chief Edouard de Pirey said. Company sees limited impact from the conflict in the Middle East, with de Pirey saying its three employees in the area are safe and a supplier of aluminium tubes delivering as normal. Confirms guidance for 2026, on track for a return to growth in China in the second half of the year. ($1 = 0.8541 euros) Evolution of Valeo's first quarter revenue by region https://www.reuters.com/graphics/VALEO-SALES/dwpkyqjqypm/chart.png (Reporting by Mathias de Rozario in Gdansk; Editing by Kirsten Donovan) ((mathias.derozario@thomsonreuters.com))