Valeo integrates 100% of the share capital of Valeo Siemens eAutomotive
into its Powertrain Systems division, creating a
Big players for electromobility (PHOTO)
Paris, France (ots) – Today, Valeo has acquired Siemens’ 50% stake
Valeo acquired Siemens eAutomotive, as in February 9 with Siemens
signed agreement. Valeo now owns 100% of Valeo
Siemens eAutomotive, the leading company in the field of
High-voltage electrification, which is now part of Valeo’s Powertrain division
system has been integrated.
This strategic transaction strengthens Valeo’s position as a major
player in the field of electrification with a comprehensive offer
low and high voltage electrical drive solutions for all applications and
needs. Christophe Prillat, Chief Executive Officer of Valeo,
commented: “Valeo is accelerating electrification, as at the launch
of our Move Up plan announced. Thanks to this transaction positions itself
Valeo better than ever as a leader in electric mobility. Consequently
Valeo has a unique advantage in this rapidly developing market
– with a range of technologies covering absolutely all needs and applications
covers. This integration makes us even more innovative and competitive.
We benefit from the unique know-how of the Valeo Siemens teams
eAutomotive benefit in the area of high-voltage electrification. in the
In return, the company will benefit from Valeo’s unique capability
benefit from developing and standardizing cutting-edge technologies, as well as from
our operational know-how in mass production. I want to join Siemens
thank you for the valuable partnership over the past few years.”
With Valeo Siemens eAutomotive, Valeo is bringing in a recognized technology and
Industry leader with around 4,000 employees, including more than 1,600 engineers,
7 production sites in 4 countries (China, Germany, Hungary and Poland)
as well as the most modern research and development capacities (laboratories, test benches,
simulation tools) and production capacities on board.
The electric drive systems, motors, inverters and chargers of the
Company are in the main platforms of more than 20 car manufacturers
(1) to find and will by the end of 2022 more than 90 electrical and
Equip plug-in hybrid vehicle models.
To show momentum, Valeo Siemens eAutomotive announced in early June that
the company its goal of more than 4 billion euros in orders for the
Period 2021-2022 has already exceeded – more than seven months earlier than
planned. The value of the high voltage electrification market will be in the
will increase significantly in the coming years and amount to 92 billion euros in 2030
(annualized growth of 17.5% over the period 2021-2030). 40% of this market
are outsourced to the automotive suppliers. By 2030 the market will be fr
Vehicles with high-voltage electric drive systems (BEVs and PHEVs) 35% of
make up global automobile production.
The integration of Valeo Siemens eAutomotive will allow Valeo to:
– accelerate its growth
– Accelerate its technological roadmap to always serve its customers
to be able to offer more powerful solutions (new 800V technologies on
Silicon carbide base, joint development and production of an electric motor
without rare earths with Renault and new V2Greed onboard chargers)
– unleash major synergies, aiming to have an annual by 2025
total amount of 120 million euros to be reached. These synergies will
achieved gradually, with the full benefit being achieved in 2025 (50% in
2023, 75% in 2024 and 100% in 2025).
With this integration, Valeo intends to have an annual in the period 2021-2025
Sales growth of more than 12% (pro forma) for its division
Powertrain Systems achieve sales of more than 8.5 billion euros in
2025 (compared to a pro forma turnover of 5.4 billion euros in
2021), of which around 7.5 billion euros in the original equipment. 80% of the fr
2025 targeted initial equipment sales have already been posted.
The pro forma EBITDA margin for the Powertrain Systems business is estimated at
5.8% in 2021 to over 8% in 2022 and around 13% in 2026
increase. The pro forma pre-tax free cash flow for this business
will break even by 2022 and around 350 million in 2025
euros, so that the new company will finance its own growth
can.
The transaction will result in a net cash outflow of EUR 277 million for
Valeo. This corresponds to the acquisition of the Siemens stake on a debt-free basis,
funded from the Group’s available cash. the
Net debt increased by approximately EUR 700 million without that
changed the overall balance of Valeo’s financial position. Valeo
expects to reduce its debt from 2023.
Post-transaction and based on IHS’ production assumptions
Valeo the following pro forma targets for the new business group Valeo Powertrain
system fixed:
> see table
Given the timing of the transaction and an expected reduction
of Valeo Siemens eAutomotive’s losses by 50% in 2022 compared to
2021 will see the impact of the consolidation of Valeo Siemens eAutomotive
the consolidated result will be lower than in 2021.
The project was approved by the responsible antitrust authorities and the
responsible employee representatives were informed and consulted.
(1) In series production or under development.
END
Valeo is an automotive supplier and works with all vehicle manufacturers
worldwide together. As a technology company, Valeo develops innovative
Products and systems that reduce CO2 emissions and to a
contribute to an intuitive driving experience. In 2021, the group generated
a turnover of 17.3 billion euros and invested 8.7 percent of its
original equipment sales in research and development. Valeo has 184
Factories, 21 research centers, 43 development centers and 16 sales offices
and as of December 31, 2021 employed 103,300 people worldwide in 31
countries. Valeo is listed on the Paris Stock Exchange.
Press contact:
VALEO
100 rue de Courcelles, 75848 Paris http://www.valeo.com
Andrew from the break
Director Communications Germany
+49 (0) 1622320803
mailto:[email protected]
Further material: http://presseportal.de/pm/35826/5264951
OTS: Valeo