Q3 2021 Valeo SE Corporate Sales Call Transcript
Ladies and gentlemen, welcome to the Valeo Q3 Sales Conference Call. I now hand over the call to Mr. Jacques Aschenbroich, Chairman and CEO of Valeo. Sir, please go ahead.
Yes. Thank you. Thank you very much for all of you to attend this call. I'm together with Robert Charvier, our CFO; and Thierry Lacorre, Investor Relations.
As you know, we are facing some headwinds in terms of semiconductor and the impact of the (inaudible) crisis on the automotive production. Nevertheless, we have been able to tighten upwards our EBITDA margin for 2021 to the upper range from 12.8% to 13.4%, up to 13% to 13.4%.
At the time when all our competitors are having some profit warning, you can wonder why we're able to tighten upward our EBITDA margin. The reason is the -- all the reasons are extremely clear. First one, we have been extremely cautious at the beginning of the year. You remember probably our call in February when we explained to you that we're seeing the impact of the pandemic on the semiconductor
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