February 21, 2019 / 5:14 PM / 8 months ago

Valeo 2018 profit fell on emissions-test bottlenecks, China

PARIS, Feb 21 (Reuters) - French auto parts maker Valeo said 2018 profit fell in a “challenging year” marked by emissions-test bottlenecks that hit European car production and a slowdown in China.

Operating profit fell 26 percent to 1.09 billion euros ($1.24 billion), Valeo said, paring its operating margin to 5.7 percent of sales from 7.9 percent a year earlier.

Net income fell 38 percent to 546 million euros even as revenue increased 4 percent to 19.26 billion euros, helped by acquisitions.

$1 = 0.8825 euros Reporting by Laurence Frost; Editing by Inti Landauro

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