December 9, 2019 / 5:50 PM / a month ago

Car parts maker Valeo targets to double free cash flow by 2022

FILE PHOTO: The company logo of auto parts maker Valeo is pictured before the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Benoit Tessier

PARIS (Reuters) - French car parts maker Valeo (VLOF.PA) said on Monday it planned to double its free cash flow generation from 2020 to 2022 to reach between 1.3 billion euros ($1.43 billion) and 1.5 billion euros ($1.65 billion).

As part of a new strategic plan, Valeo also said in a statement it aimed to increase its earnings before interest, tax, depreciation and amortization margin to 15% of sales in 2022.

Reporting by Gilles Guillaume; Writing by Matthieu Protard. Editing by Jane Merriman

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