Valeo Se · EURONEXT:FR
Valeo — CES 2020
58 slides from Valeo's conference presentation, January 2020
Slide 1: A Successful Transformation
A SUCCESSFUL TRANSFORMATION JACQUES ASCHENBROICH CHAIRMAN & CHIEF EXECUTIVE OFFICER
Slide 2: A Successful Transformation
A SUCCESSFUL TRANSFORMATION 2
Slide 3: A Successful Transformation
A SUCCESSFUL TRANSFORMATION WE CREATED #1 POSITION IN ELECTRIFICATION AND ADAS THANKS TO 12 NEW KEY ~5 PTS SALES TECHNOLOGICAL PLATFORMS OUTPERFORMANCE EXPANDING OUR COMPETITIVE EDGE FOCUS ON THROUGH HIGH BARRIERS TO ENTRY PROFIT & CASH LEADING TO A STRONG INCREASE OF OUR CONTENT PER CAR 3
Slide 4: #1 in Electrification and ADAS
A SUCCESSFUL TRANSFORMATION #1 #1 IN ELECTRIFICATION IN ADAS 2 OUT OF 3 1 OUT OF 4 EUROPEAN OEMs HV LAUNCHES IN 2019-2022 EQUIPPED WITH PRODUCED VEHICLES IN 2019 OUR HV SOLUTIONS EQUIPPED WITH OUR ADAS SOLUTIONS 4
Slide 5: Unique technological platforms with high barriers to entry
WE HAVE INVESTED TO CREATE UNIQUE TECHNOLOGICAL PLATFORMS WITH HIGH BARRIERS TO ENTRY ELECTRIFICATION ADAS High voltage E-thermal 48V E-MACHINE BATTERY COOLING E-MACHINE FRONT CAMERA & E-AXLE LIDAR & E-AXLE SCALA® INVERTER E-THERMAL DRIVER DCDC AUTONOMOUS POD INTERIOR MONITORING ON-BOARD HEAT PUMP C
Slide 6: Market pushes towards electrification, safer and smart mobility
MARKET PUSHES TOWARDS ELECTRIFICATION SAFER MOBILITY SMART MOBILITY 6
Slide 7: Market pushes towards electrification
MARKET PUSHES TOWARDS ELECTRIFICATION 7
Slide 8: Market pushes towards electrification
MARKET PUSHES TOWARDS ELECTRIFICATION REGULATIONS CITIES ARE NEW OFFER IS READY CONSUMERS PUSH REGULATORS INCREASINGLY OPEN ~1 million 700 >300 42% electric cars in EU city access regulations new xEV models of consumers would consider in 2020 to avoid in UE until 2024 an EV for their next car CO2 pe
Slide 9: Market pushes towards electrification
MARKET PUSHES TOWARDS ELECTRIFICATION - CO2 - DIESEL = + ELECTRIFICATION 9
Slide 10: For both 48V and high voltage solutions
MARKET PUSHES TOWARDS ELECTRIFICATION FOR BOTH 48V & HIGH VOLTAGE SOLUTIONS 74% 45% 16% 7% 9% 23% 22% 40% 34% 84% 55% 26% 2020 2025 2030 48V ELECTRIFICATION* HIGH VOLTAGE ELECTRIFICATION** INTERNAL COMBUSTION ENGINE * Incl. 48V and 12V+12V ** Incl. HV BEV, PHEV, FCEV & FHEV 10 Source: IHS McKinsey V
Slide 11: Successful new key technological platforms already in SOP in 2019
WE HAVE DEVELOPED SUCCESSFUL NEW KEY TECHNOLOGICAL PLATFORMS ALREADY IN SOP IN 2019 CUMULATED OI CONTENT PER CAR RATIO 48V ELECTRIFICATION >40% MARKET SHARE 48V IN 2022 7.5bn€ X2 CUMULATED OI CONTENT PER CAR RATIO 1/3 EUROPEAN OEMS HV LAUNCHES 2bn€ X2 E-THERMAL SOLUTIONS IN 2019-2022 EQUIPPED WITH O
Slide 12: Market pushes towards safer mobility
MARKET PUSHES TOWARDS SAFER MOBILITY 12
Slide 13: Towards a safer mobility
TOWARDS A SAFER MOBILITY 1.35 million people die in traffic accidents every year, as if an Airbus A320 with 150 people on board was crashing every hour of every day, every month in the year J. KRAFCIK (Waymo CEO) 13
Slide 14: Market pushes towards safer mobility
MARKET PUSHES TOWARDS SAFER MOBILITY REGULATION TECHNOLOGY CONSUMER PUSH SOCIETAL GOAL 50% No fatalities or serious Active safety push Technology is ready of consumers recognize injuries through road High safety standards as accidents biggest driver SOURCE: McKinsey ACES survey 2019 14
Slide 15: Safer mobility will be driving ADAS market growth
SAFER MOBILITY WILL BE DRIVING ADAS MARKET GROWTH LEVEL 1 LEVEL 2 LEVEL 2 LEVEL 3 LEVEL 4 DRIVER ASSISTANCE ADVANCED PARTIAL ADVANCED LEVEL PARTIAL 2+ CONDITIONAL HIGH AUTOMATION AUTOMATION AUTOMATION AUTOMATION THERMAL IMAGING LIDAR LIDAR RADAR RADAR RADAR CAMERA OR RADAR CAMERA CAMERA CAMERA UP TO
Slide 16: A fast growing market
A FAST GROWING MARKET Park Assist only Driverless 3-star NCAP Driverless Level 3 Park Assist only 5-star NCAP Level 2+ Park Assist only Level 2+ 3-star NCAP Level 2 Level 4 3-star NCAP 10-12 bn€ 15-20 bn€ 35-40 bn€ Level 2 5-star NCAP Level 3 Level 2 5-star NCAP Level 2+ 2019 2022 2030 16
Slide 17: We built successful platforms for ADAS
WE BUILT SUCCESSFUL PLATFORMS FOR ADAS CUMULATED ORDER INTAKE 2017- 2019 >€11Bn SYSTEM 18% CAGR SOFTWARE 2019-2022 ~€3.2Bn COMPONENT SALES IN 2022 1 OUT OF 4 PRODUCED VEHICLES IN 2019 EQUIPPED WITH OUR ADAS SOLUTIONS 17
Slide 18: We built successful platforms for ADAS
WE BUILT SUCCESSFUL PLATFORMS FOR ADAS CUMULATED ORDER INTAKE 2017-2019 >€11Bn 18% CAGR 2019-2022 ~€3.2Bn SALES IN 2022 18
Slide 19: Market pushes towards smart mobility
MARKET PUSHES TOWARDS SMART MOBILITY 19
Slide 20: Market pushes towards smart mobility
MARKET PUSHES TOWARDS SMART MOBILITY MOBILITY NEEDS ARE DIFFERENT BUSINESS INVESTMENT FLOW IS ROBOTAXIS ARE A REALITY INCREASING MODELS EMERGE INCREASING IN DIGITAL MOBILITY PKT* is expected to grow 46% Waymo launched by of US vehicle trips $35Bn first rides in 30% are < 5km invested in 2018 in Phoe
Slide 21: Smart mobility offers many opportunities to leverage our platforms
SMART MOBILITY OFFERS MANY OPPORTUNITIES TO LEVERAGE OUR PLATFORMS LAST MILE DELIVERY E-MICROMOBILITY ROBOTAXIS ROBOSHUTTLES COOPERATIONS FIRST ORDERS FIRST ORDERS FIRST ORDERS 21
Slide 22: Increasing EBITDA
INCREASING IN EBITDA >15% EBITDA IN % OF SALES 2022 EBITDA 12.8% IN % OF SALES 2019* *estimated 2019 22
Slide 23: Doubling our free cash flow generation
DOUBLING OUR FREE CASH FLOW GENERATION 23
Slide 24: Smart technology for smarter mobility
SMART TECHNOLOGY FOR SMARTER MOBILITY
Slide 25: Slide 25
Slide 26: A Successful Transformation
A SUCCESSFUL TRANSFORMATION CHRISTOPHE PERILLAT CHIEF OPERATING OFFICER
Slide 27: Valeo delivers leading solutions and systems in electrification
VALEO DELIVERS LEADING SOLUTIONS & SYSTEMS IN ELECTRIFICATION 27
Slide 28: High voltage electrification: growth is there
HIGH VOLTAGE ELECTRIFICATION: GROWTH IS THERE €11Bn ORDER INTAKE 28
Slide 29: Valeo-Siemens is accelerating
VALEO-SIEMENS IS ACCELERATING DS7 Crossback e-tense Renault Master ZE Peugeot 3008 BMW 5.30e Opel GrandLand X Launches on 90 vehicles BMW 3.30e LEV TX5 BAIC C10 up to 2022 Tata Nexon Smart For2 GAC Trumpchi GE3 eGO Life VW ID3 Renault Clio Smart For4 BAIC EU400 Volvo XC60 Land Rover Discovery Renaul
Slide 30: 48V e-Machine platform
48V e-MACHINE PLATFORM >300 000 >40% Key enabler Machines shipped Market Share in 2022 For CO2 reduction 30
Slide 31: Next generations are based on the same platform
NEXT GENERATIONS ARE BASED ON THE SAME PLATFORM Starter Generator Electric motor Full Electric rear axle 4-12 kW 15 kW 25 kW 31
Slide 32: Smart e-mobility based on 48V platform
SMART e-MOBILITY BASED ON 48V PLATFORM Same 48V e-motor 32
Slide 33: We are already entering smart e-mobility market
WE ARE ALREADY ENTERING SMART e-MOBILITY MARKET European Indian European OEM OEM OEM SOP SOP SOP Q1 2020 Q2 2020 Q3 2020 Expected in 2021 33
Slide 34: We are already entering smart e-mobility market
WE ARE ALREADY ENTERING SMART e-MOBILITY MARKET ELECTRIFICATION KITS 34
Slide 35: Valeo delivers leading solutions and systems for safer mobility
VALEO DELIVERS LEADING SOLUTIONS & SYSTEMS FOR SAFER MOBILITY 35
Slide 36: The broadest sensor portfolio on the market
THE BROADEST SENSOR PORTFOLIO ON THE MARKET FOR EXTERIOR AND INTERIOR COCOONS INTERIOR COCOON Driver and cabin monitoring EXTERIOR COCOON Perception and Situational Awareness 36
Slide 37: Artificial intelligence is powering Valeo's perception systems
ARTIFICIAL INTELLIGENCE IS POWERING VALEO’S PERCEPTION SYSTEMS Adversarial Entropy minimization for Unsupervised Domain Adaptation 200+ AI Experts Introducing WoodScape Multi-sensor multi-task fisheye dataset Confidence Estimation in Deep Learning
Slide 38: LiDAR SCALA platform
LIDAR SCALA® PLATFORM >100 000 €500mio Key enabler Valeo SCALA® shipped order intake for safe automated driving 38
Slide 39: LiDAR SCALA platform
LIDAR SCALA® PLATFORM SCALA 1 SCALA 2 SCALA 3 NEAR FIELD LIDAR 39
Slide 40: LiDAR is a key enabler for safe automated driving
LIDAR IS A KEY ENABLER FOR SAFE AUTOMATED DRIVING overhead objects Valeo SCALA ® road debris can detect road markings offset static objects
Slide 41: Distance-intensity image
distance-intensity image
Slide 42: Front camera platform
FRONT CAMERA PLATFORM >€4bn 50 World’s 1st order intake since 2017 model launches in 2019/2020 Stand-alone SAE Level 2 in 2019 42
Slide 43: Valeo's smart front camera Level 2 ADAS system
VALEO’S SMART FRONT CAMERA LEVEL 2 ADAS SYSTEM Honda’s Fit abolishes millimeter-wave radar, changed from Bosch to Valeo Nikkei Automotive Technology 2019, October 1st Computer Vision Adaptive Cruise Control Host Computer Camera Vehicle Lane Centering System Steering/Braking Frontend Peripherals Comm
Slide 44: Surround view camera platform
SURROUND VIEW CAMERA PLATFORM 35% XtraVue Trailer 12% market share in 2019 system launched in 2019 camera CAGR 2019-2022 4
Slide 45: Intuitive and fun to use...
INTUITIVE AND FUN TO USE... 45
Slide 46: Driver monitoring platform
DRIVER MONITORING PLATFORM st st World’s 1 World’s 1 Selfie A-pillar Emotion Function Driver Monitoring System Detection System for 2021 SOP 46
Slide 47: JAS
JAS (pam a
Slide 48: We are a key partner to new mobility players
WE ARE A KEY PARTNER TO NEW MOBILITY PLAYERS ENSURING AVAILABILITY OF SERVICE THROUGH AUTOMOTIVE GRADE QUALITY 48
Slide 49: Proud to count Valeo as a partner
WE ARE A KEY PARTNER TO NEW MOBILITY PLAYERS « …Proud to count Valeo as a partner… » J. KRAFCIK (Waymo CEO) - IAA 2019 49
Slide 50: Valeo delivers leading solutions and systems in smart mobility
VALEO DELIVERS LEADING SOLUTIONS & SYSTEMS IN SMART MOBILITY 50
Slide 51: Smart solutions providing immersive experience
SMART SOLUTIONS PROVIDING IMMERSIVE EXPERIENCE Come & see our teleportation experience on the Strip 51
Slide 52: Smart solutions providing immersive experience
SMART SOLUTIONS PROVIDING IMMERSIVE EXPERIENCE Come & see our teleportation experience on the Strip 52
Slide 53: But smart mobility is more than cars
BUT SMART MOBILITY IS MORE THAN CARS 5 53 3
Slide 54: Leveraging our perception platforms for new use cases
LEVERAGING OUR PERCEPTION PLATFORMS FOR NEW USE CASES
Slide 55: Introducing eDeliver4U electric automated delivery
INTRODUCING eDELIVER4U ELECTRIC AUTOMATED DELIVERY BY VALEO
Slide 56: Valeo electrification and mobility kits available
VALEO ELECTRIFICATION & MOBILITY KITS AVAILABLE MOBILITY KITS ON-THE-SHELF AUTOMOTIVE QUALITY OFFER COMPETITIVE CONTINUOUS PRICE INNOVATION
Slide 57: It is just the beginning
IT IS JUST THE BEGINNING 57
Slide 58: Valeo: Smart technology for smarter mobility
Valeo SMART TECHNOLOGY FOR SMARTER MOBILITY