Valeo

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Valeo S.A.
Société Anonyme
Traded asEuronextFR
CAC 40 Component
IndustryAutomotive industry
Founded1923; 96 years ago (1923)
HeadquartersParis, France
Key people
Jacques Aschenbroich (Chairman & CEO)
ProductsAuto parts
RevenueIncrease€19.3 billion (2018)
Decrease€546 million (2018)
Number of employees
113,600 (2018)
Websitewww.valeo.com

Valeo is a French global automotive supplier headquartered in France, listed on the Paris Stock Exchange (CAC-40 Index). It supplies a wide range of products to automakers and the aftermarket. The Group employs 113,600 people in 33 countries worldwide. It has 186 production plants, 59 R&D centers and 15 distribution platforms. Its strategy is focused on innovation and development in high-growth potential regions and emerging countries.[1] In 2018, Valeo's sales rose 4% to €19.3 billion. It also ranked as France's leading patent filer from 2016 to 2018.[2]

History[edit]

The Société Anonyme Française de Ferodo was founded in 1923 in Saint-Ouen, near Paris. It first distributed brake linings and clutch facings under license of Ferodo Ltd UK.[3]

In 1932, the company diversified its activities to include the production of clutches. In the same year, it was listed on the Paris Stock Exchange.[4]

In the 1950s, the company expanded outside the Paris area, opening new factories in France.

The firm engaged in diversification by producing braking systems (1961), thermal systems (1962), lighting systems and electrical systems (1971-1978 and 1984).[5]

The 1960s saw the start of the company's international development first in Europe, especially in Spain and Italy, and then all over the world: Brazil (1974), the United States (1980), Tunisia (1984), South Korea and Turkey (1988), Mexico (1989), China (1994), India (1997), Eastern Europe (Poland and Czech Republic in 1995, Romania in 2002 and Slovakia in 2004) to total 33 countries at the end 2018.

In May 1980, the company was renamed Valeo, which means "I am well" in Latin.

Recent acquisitions include German automotive suppliers Peiker and Spheros in 2015, followed by FTE automotive in 2017.

In the early 2000s, Valeo initiated a new approach to innovation. Quickly, the Group became a world leader in parking assistance systems using ultrasonic sensors.[6]

In 2017, Valeo presented its low-voltage prototype electric vehicle at the Consumer Electronics Show in Las Vegas.[7]

Strategy[edit]

Since 2009, CEO Jacques Aschenbroich's strategy has been based on: innovation linked to the reduction of CO2 emissions and intuitive driving, and geographical expansion in high-growth potential countries, notably in Asia and in emerging countries.[8][1][9]

From 2009 to 2018, the number of employees increased from 45,000 to 113,600. The Group’s sales rose from €7.5 billion to €19.1 billion.[10] with a strong development in China.[11]

Valeo invests 11,8% of its sales in R&D and innovation. It has 17,900 research and development employees. In 2016 and 2017, the Group ranked as France’s leading patent filer.[12]

Organization[edit]

The Group employs 113,600 people in 33 countries throughout the world. It has 184 production plants, 55 R&D centers and 15 distribution platforms.

Four Business Groups[edit]

Valeo is structured around four business units:[13]

  1. Comfort & Driving Assistance Systems (specialized in technologies to make driving safer, more intuitive, more autonomous and more connected)
  2. Powertrain Systems (development of innovative solutions for reducing CO2 emissions in terms of electrification, automated transmissions and clean engines for vehicles)
  3. Thermal Systems (optimization of vehicle thermal management and passenger well-being)
  4. Visibility Systems (development of technologies ensuring the best visibility and safety for drivers in all weather conditions)

Its Valeo Service activity supplies original equipment spares to automakers and replacement parts to the independent aftermarket.[14]

International Business[edit]

Original equipment sales growth by destination region:

  • Europe and Africa: 46% of sales
  • Asia: 32% of sales
  • North America: 20% of sales
  • South America: 2% of sales

Financial statistics[edit]

Sales (millions)[15]
Breakdown of sales by Business Group 2018
  • Driving Assistance Systems: 19%
  • Powertrain Systems: 26%
  • Thermal Systems: 26%
  • Visibility Systems: 29%
Operating margin (in % of sales)

Asbestos[edit]

Valeo, its directors and its corporate medical function have been indicted after a decade-long penal procedure in 2006 for homicide, unintentional injury, and failure to assist a person in danger regarding its former use of asbestos which caused the death of hundreds of employees over many years.[31][32]

Since, the Valeo Group has set up high health-security standards and has been thoroughly monitoring employees and retired personnel. This policy was ratified in a national agreement with the French government in April 2009. The group took a proactive approach to secure four former industrial sites with asbestos related issues.[33]

See also[edit]

References[edit]

  1. ^ a b "Valeo axe son ambitieux plan stratégique sur la Chine et l'innovation". La Tribune.
  2. ^ "Le palmarès des déposants de brevets 2018 en France". 4 April 2019.
  3. ^ micdec (13 May 2012). "VALEO : QUELLE HISTOIRE ! De 1830 -a- 1988".
  4. ^ "Our story - Valeo Group history". Valeo.
  5. ^ "Valeo -- Company History". www.company-histories.com.
  6. ^ "CES 2018 : la voiture électrique low cost selon Valeo (VIDEO)" – via videos.leparisien.fr.
  7. ^ "Valeo reveals electric city car concept at CES". www.autocarpro.in.
  8. ^ Schenker, Jennifer L. (1 June 2018). "Interview Of The Week: Jacques Aschenbroich". The Innovator news.
  9. ^ "Valeo - plan stratégique pour augmenter d'un tiers le chiffre d'affaire".
  10. ^ "VALEO (VLEEF) Income Statement". finance.yahoo.com. Retrieved 2019-06-25.
  11. ^ "Valeo lance un plan pour améliorer sa rentabilité". LExpansion.com. 10 March 2010.
  12. ^ "Jacques Aschenbroich : " Valeo investit un tiers de sa R&D dans le véhicule autonome "". videos.lesechos.fr.
  13. ^ "Our activities". Valeo.
  14. ^ "Valeo : de la technologie en aftermarket". www.decisionatelier.com. 17 September 2018.
  15. ^ "Press releases - Valeo" (PDF). valeo.com. Retrieved 23 April 2018.
  16. ^ a b c d e f "Financial Statements" (PDF). www.valeo.com. 2003.
  17. ^ a b c "Financial Statements" (PDF). www.valeo.com. 2006.
  18. ^ a b c "DDR_Statements Financial consolidated 2008_V1-EN" (PDF) (in French). Retrieved 2018-07-16.
  19. ^ a b "Financial Statements" (PDF). www.valeo.com. 2009.
  20. ^ a b "Financial Statements" (PDF). www.valeo.com. 2010.
  21. ^ a b "Financial Statements" (PDF). www.valeo.com. 2011.
  22. ^ a b "Financial Statements" (PDF). www.valeo.com. 2012.
  23. ^ a b "Financial Statements" (PDF). www.valeo.com. 2013.
  24. ^ a b "Financial Statements" (PDF). www.valeo.com. 2014.
  25. ^ a b "Financial Statements" (PDF). www.valeo.com. 2016.
  26. ^ a b "Financial Statements" (PDF). www.valeo.com. 2017.
  27. ^ "Key figures". Valeo.
  28. ^ "AUTO-Valeo va réviser ses objectifs moyen terme, 2018 difficile". Reuters (in French). 2019-02-21. Retrieved 2019-06-25.
  29. ^ https://www.valeo.com/wp-content/uploads/2018/03/valeo-2017-integrated-report.pdf
  30. ^ "VALEO va bientôt quitter le CAC 40". Capital.fr (in French). 2019-06-14. Retrieved 2019-06-25.
  31. ^ 31 janvier 2014 (2006-09-20). "Condé-sur-Noireau ravagé par un siècle d'amiante - Libération". Liberation.fr. Retrieved 2014-01-31.
  32. ^ "Justice: Amiante: le médecin du travail mis en examen - L'EXPRESS". Lexpress.fr. Retrieved 2014-01-31.
  33. ^ "BASOL - Ministère de la Transition écologique et solidaire". basol.developpement-durable.gouv.fr.

External links[edit]