Valeo Q3 Sales Drop 2.3% to €4.88 Billion, Reaffirms 2026 Guidance

Valeo S.A. (VLEEF.PK, VLEEY.PK, VLOF.PA) reported third-quarter sales of €4.88 billion on Wednesday, down 2.3% from €5.00 billion, with like-for-like sales falling 2.6%. Original equipment sales declined 3.8% like-for-like, while aftermarket sales rose 3%, supported by momentum in North America, Asia and Europe. The BRAIN division returned to growth, posting an 8.2% like-for-like increase driven by display and telematics activities and higher production of vision systems. For 2026, the company maintained its sales target of €20 billion to €21 billion, an operating margin of 4.7% to 5.3% of sales, and free cash flow above €400 million after net financial interest. Valeo expects second-half operating margin and free cash flow in line with first-half levels, with fourth-quarter sales growing sequentially in line with typical seasonality.