Full Year 2020 Valeo SA Earnings Call Transcript
Welcome to the Valeo 2020 results conference call. I now hand over to Mr. Jacques Aschenbroich, Chairman and CEO of Valeo. Sir, please go ahead.
Good evening for all of you and thank you very much to attend our call. I'm here with Robert Charvier, our CFO, and Thierry Lacorre, Investor Relations. When we look at the year 2020, as a matter of fact we have two very different dynamics between the first half of the year and the second half of the year.
Remember when we spoke about the first half of the year in July, I explained that the main focus at that time was, of course, to protect the health of our people. And we put in place very early in February a health protocol that is very efficient and that is still ongoing in all our plants and all our energy centers and all our (inaudible).
The second priority was to protect our assets. You remember that we have closed down 154 plants and we started those 154 plants in May and June. We have variabilized our
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