Results for the first half of 2017 show high growth in economic revenue, above €4 billion. The rise in operating income reflects the nonstop improvement in our industrial performance and high workloads for plants. The streamlining of the exterior body parts business acquired in 2016 is going ahead to plan. The Group’s net profit has risen by 35% and our financial structure continues to strenghten.
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2017 Interim results presentation2017 Interim results report |
On June 30, 2017, Plastic Omnium definitively sold its Truck composites business to the German group mutares AG.
This body parts and structure design and manufacturing business for the truck industry, which employs 1,500 people, had revenue of approx. €200 million in 2016 for its 9 production sites (5 in France, 1 in Germany, 1 in Mexico and 2 in China). Its sale will have an accretive impact on the Group’s profitability.
Plastic Omnium 2017 First-Half results will be presented during an online conference on Friday, July 21th, 2017 at 08:30 am (Paris time).
Please register now to:
http://event.onlineseminarsolutions.com/wcc/r/1457624-1/9E49A8D5BE8626E94F1A5A502279E72E?partnerref=rss-events
Conf call number:
France toll: +33 1 72 00 15 10
UK toll: +44 203 043 2440
Germany toll: +49 6922 2229 031
Spain toll: +34 914 142 021
US toll: +1 646 722 4907
PIN Code:
French: 79845369 #
English: 42251158 #
Compagnie Plastic Omnium today completed a €500 million 7-year 1.25% bond issue for European investors, without covenants or ratings.
The net proceeds of the issue will be used to meet the Group’s general financing needs as part of its profitable and independent growth strategy, based on globalization and innovation. It will strengthen the Group’s debt structure by extending the average maturity of its debt and diversifying its sources of financing.
Plastic Omnium opens its Automotive Strategic Advisory Committee to external members who will provide authoritative advice and guidance to foster PO’s innovation patterns.
This committee, created in 2011 and led by Plastic Omnium’s Scientific Director, supports the development of a comprehensive policy approach on open innovation, collaboration and cross-fertilisation, private and public partnerships, and technology transfer.
In addition to Plastic Omnium R&D VPs, this Advisory Committee hosts eminent, internationally recognised figures from the academic world, research and industry.
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from left to right: Jay Lee, Hiroaki Kitano, Ronan Stephan, Mathias Fink in Levallois headquarters |
For the 1st quarter of 2017, economic sales reported by Compagnie Plastic Omnium amounted to €2,039.4 million, up 32.8% compared with the 1st quarter of 2016. Consolidated sales, excluding joint ventures, rose by 36.0%.
This very strong growth is the result of:
– organic growth of 16.8% in the automotive business, which outperformed global automotive production by 10.9 points;
– the exterior systems acquired on July 31, 2016.
Exhibiting at Auto Shanghai for the 3rd time, Plastic Omnium confirms its successful development in China and capacity to pursue its growth in the biggest automotive market in the world, leading to double its revenue* to €1.3 billion in 2021.
Plastic Omnium set up in China in 2007 and recorded revenue of €640 million in the Chinese market in 2016, with 26 production sites and a workforce of 5,100.
Our robust growth expectations are based on market share gains, developments with local Chinese car manufacturers, and the increase in the share of innovative products. Growth projections are backed by a comprehensive industrial network and expanded R&D capacity.
Today, Plastic Omnium finalized the sale of seven European sites (four in France, one in Spain, two in Germany) to US-Based Flex|N|Gate Group. This disposal was required by the European Commission as part of the takeover of Faurecia Auto Exterior in July 2016. As previously announced, the deal was made for an enterprise value of €200 million.
The integration process of the scope retained by Plastic Omnium, which amounts to €1 billion in revenue, is proceeding on schedule, and its profitability improvement target has been confirmed.
After the new plants in Chattanooga (Tennessee for Volkswagen) and Fairfax (Kansas for General Motors), Plastic Omnium launches the construction of two additional plants in the United States.
The Greer (South Carolina) plant under construction is intended to deliver all large exterior painted body parts for the BMW X3, X4, X5, X6 and future models at the BMW plant adjacent to Plastic Omnium; it will also supply Volvo in South Carolina and Daimler in Alabama.
Moreover, Plastic Omnium will produce, in its new Tennessee plant, fuel systems for a Japanese car maker.
These two state-of-the-art plants will come on stream mid-2018.
In total over 3 years, Plastic Omnium will have invested $300 million in the construction of 4 new plants in the United States, which will employ nearly 1,000 people.
2016 was an exceptional year.
Firstly from a financial perspective, Plastic Omnium has set new records with double-digit growth seen repeatedly in all the group’s financial aggregates.
From a strategic perspective, Plastic Omnium closed the most important acquisition in its history by integrating the Faurecia Exterior Systems business. This large-scale operation has given the Group a new dimension – 2016 pro forma revenue of €7.5 billion – and provided leverage to grow both its customer portfolio and technological potential. Furthermore, Plastic Omnium has sold off a number of non-strategic activities in order to focus on its core businesses, namely the automotive industry and the environment.
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2016 Financial results presentation2016 consolidated Financial statements |
