2011 Registration Document - Valeo

1 Presentation
PAGE 8
of Valeo and its businesses
Key fi gures
1.1.5 Gross margin
As a % of sales
15.2%
18.0%
2011 Registration D ocument - VALEO
17.0%
09 10 11
1.1.7 Operating margin (1)
As a % of sales
1.8%
6.4%
6.5%
09 10 11
1.1.6 Research and development
costs
As a % of sales, net of customer contributions, grants and
research tax credits
6.3%
5.6%
5.2%
09 10 11
1.1.8 Net attributable income
In millions of euros and as a % of sales
-2.0%
365
3.8%
427
(153)
09 10 11
(1) Operating margin corresponds to operating income before other income and expenses (see Chapter 5, section 5.2.6, Note 4.5 to the
consolidated financial statements , page 212).
3.9%