2023 Annual results

Strong 2023 performance

  • Revenue at a record high of €11.4 billion, with strong +20% growth vs. 2022.
  • Operating margin and free cash flow above adjusted targets.
  • Exceptional 2023 order book confirming dynamic future growth and demonstrating the relevance of our offer.
  • Continuation of the strategic roadmap and a sharp improvement in lighting business profitability.
  • 2023 economic revenue of €11.4 billion, up significantly by +20.3% (+13.4% organic growth), outperforming annual global automotive production by +3.7 points, in-line with Group target. Consolidated revenue exceeds €10 billion for the first time in Plastic Omnium’s history.
  • Operating margin of €395 million, up +€31 million, driven by more sustained activity levels in 2023 than 2022, good cost control in an ongoing high-inflation environment and a marked improvement in the lighting business margin.
  • Robust net result, Group share of €163 million and a proposed dividend of €0.39 per share, stable compared to 2022.
  • Strong free cash flow generation of €227 million, above the adjusted target of between €190 and €210 million, including controlled investments of 4.7% of revenue.
  • Further reduction in Group debt to net debt of €1,540 million and a net debt/EBITDA ratio of 1.7x at December 31, 2023.
  • Excellent commercial momentum reflected by a record order intake in 2023 and including in particular major order intakes in the first half of the year.
  • A change in Group segment reporting enabling the contribution of the Group’s different businesses to be better assessed through the Exterior Systems, Powertrain, and Modules segments
  • Continued roll-out of the carbon neutrality roadmap with a -20% decrease in CO2 emissions (scopes 1 & 2) compared to 2019 (baseline for our commitments), and the recognition, by CDP, of our climate commitment with the grant of the highest “A” rating.


  • In a market expected to decline slightly in 2024 (estimated at -0.7% by S&P), Plastic Omnium aims to outperform global automotive production) and improve all its financial aggregates (operating margin), net result Group share, free cash flow and net debt compared to 2023, with a controlled increase in investments.
  • To support future growth, Plastic Omnium also aims to improve its cost structure to become more competitive, by adapting its industrial capacities to changes in production and pooling its resources.

« With record revenue of €11.4 billion in 2023, Plastic Omnium crossed the symbolic €10 billion mark, highlighting the Group’s solid operating performance. As our historical activities confirm their leadership, the hydrogen business continues to ramp up industrially and commercially and the lighting business has significantly improved its profitability while achieving major commercial successes. Our exceptional order book demonstrates the relevance of our technological offer for all types of mobility and the confidence of our customers. At the same time, the Group is transforming to support market growth by adapting its industrial facilities and pooling its functional resources in each of its key regions. I would like to pay tribute to the remarkable commitment of the teams who deploy our strategic roadmap daily and are working to reduce our CO2 emissions. CDP rewarded these efforts with the highest rating for our climate action. In a market expected to contract slightly in 2024, Plastic Omnium aims to improve its financial performance and continue deleveraging.»
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

Press release


Consolidated financial statements 2023

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