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Sales up 14% to 16.5 billion euros 02.16.2017 - Strategy & Results

PARIS, France, February 16, 2017 – At its meeting of February 15, 2017, Valeo's Board of Directors approved the consolidated and parent company financial statements for the year ended December 31, 2016:

Sales up 14% to 16.5 billion euros
Operating margin(1) up 20% to 1.3 billion euros, or 8.1% of sales
Net income up 27% to 925 million euros, or 5.6% of sales
Order intake(2) up 17% to 23.6 billion euros

Jacques Aschenbroich, Valeo's Chairman and Chief Executive Officer, commented:
"Valeo's 2016 results reflect the work accomplished by our teams over the past few years to build a new, more innovative, technologically focused, dynamic and profitable Valeo:

Also in 2016 we were delighted to welcome into the Valeo family teams from peiker, Spheros, and the Valeo Siemens eAutomotive joint venture and in January this year, Ichikoh. Thanks to these acquisitions and in line with our strategy, we are stepping up the development of our four Business Groups, with the primary aims of diversifying our client portfolio and strengthening our products' technological positioning and the geographical alignment of our sales.
On the back of this strong momentum, Valeo will hold an Investor Day in London on February 28 to present its new medium-term financial objectives."

Full-year 2016

Second-half 2016

Fourth-quarter 2016

2016 dividend
Proposed dividend payment up 25% to 1.25 euros per share, representing a payout ratio of 32%.

2017 outlook

Based on the following assumptions:

Valeo has set the following objectives for 2017:

1Including share in net earnings of equity-accounted companies, see Financial Glossary, page 14.
2See Financial Glossary, page 14.
3Including share in net earnings of equity-accounted companies, see Financial Glossary, page 14.
4See Financial Glossary, page 14.