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H1-2008 - Valeo

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Addressing the H2-<strong>2008</strong> challenges<br />

Global car production decelerating<br />

further<br />

Price competitiveness<br />

Customer choice for smaller<br />

car/fuel efficient cars<br />

Rising raw material costs<br />

Higher interest rate<br />

July 29, <strong>2008</strong> I 32<br />

Expanding fast in emerging<br />

markets; strong aftermarket<br />

Productivity gains, successful<br />

turnarounds (VC, VLS, VWS)<br />

Strong market positions with<br />

volume OEMs/ attractive<br />

fuel efficiency solutions<br />

Successful implementation of<br />

compensating measures and<br />

contract renewal effect<br />

Ample access to liquidity and<br />

solid balance sheet<br />

Confirm improvement in <strong>2008</strong> annual results

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