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Valeo SMART TECHNOLOGY FOR SMARTER MOBILITY PRESS RELEASE Paris , July 22 , 2021 Solid operating performance in the first half , in an environment marked by the shortage of electronic components : - Sales of 4,327 million euros in the second quarter , up 73 % on a like - for - like basis versus second - quarter 2020 Sales of 8,994 million euros in the first half , up 31 % on a like - for - like basis versus first - half 2020 EBITDA margin at 13.4 % of sales Free cash flow of 145 million euros Strong order intake of 10.6 billion euros for Valeo , plus 1.1 billion euros for Valeo Siemens eAutomotive Confirmation of 2021 objectives despite weaker - than - expected growth in automotive production and the rise in raw material prices Jacques Aschenbroich , Valeo's Chairman and Chief Executive Officer , commented : " I'd like to thank our teams once again for their unrelenting commitment - particularly in managing the shortage of electronic components . Thanks to their efforts , we were able to supply our customers without any interruption and achieve very solid performances in our plants . Leveraging our unique positioning in electrification and ADAS , we outperformed automotive production by more than 10 percentage points in all regions compared to first - half 2019 . Additionally , the deployment of our technological platforms enables us to structurally reduce our gross Research and Development expenditure by 207 million euros and capital spending by 228 million euros , while offering increasingly innovative solutions to our customers , and to generate free cash flow of 145 million euros . The EBITDA margin , which is up 90 basis points versus 2019 at 13.4 % of sales , reflects our operating efficiency and strict management of all of our costs . 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. " 1