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)
