Car parts maker Valeo confirms outlook as earnings rise

By:  Reuters
12:19 07/22/2021

PARIS (Reuters) - French car parts maker Valeo on Thursday confirmed its 2021 financial outlook as it posted increased first-half sales and profit.

Valeo's first-half earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 1.21 billion euros ($1.41 billion) from 202 million a year earlier, while sales rose to about 9 billion euros from 7.1 billion.

"In a challenging environment marked by a shortage of electronic components and rising raw material prices, we can confirm our objectives for full-year 2021," said Valeo chairman and CEO Jacques Aschenbroich.

($1 = 0.8502 euros)

(Reporting by Sudip Kar-Gupta; Editing by David Goodman)

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