Record order book provides strong visibility
– Acceleration in fast-growing segments

Strengthened position in both China and electrification
– Outperformance in China (4.1 points) with a 10.7% increase in revenue driven by battery electric vehicles
– Launch of new division in hydrogen with of a comprehensive offer and fully operational production capacities

Enhanced cost-management and priority on cash flow
– Increased cost flexibility to counter the impact from production stoppages
– Strict monitoring of investments and operational inventories while maintaining the Group’s capacity for innovation

2022 Outlook
– Outperformance relative to global automotive production (based on IHS projection for FY 2022 of -5%)
– Operating margin between 5-6% of revenue
– Free cash flow in excess of €260 million

“In the context of the unprecedented challenges that our industry is facing, we achieved our objectives for the year. This performance reflects the highly effective measures that we took to increase flexibility and reduce costs, the active mobilisation of our teams, and significant commercial outperformance, particularly in Asia and in electrification. We have also continued to invest in hydrogen, enabling us to establish the Group’s position across all mobility sectors.
2021 also marked a crucial milestone in the Group’s journey with the rollout of an ambitious carbon neutrality roadmap that we are now deploying site by site. Whilst the short-term situation continues to present its challenges, our long-term ambitions remain steadfast, and we are well-positioned to continue to gain market share and seize new opportunities in growth areas.”
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

Press release

Presentation

2021 consolidated financial statements (only FR)

In the first nine months of 2021:
– Economic revenue up 13.4% versus a 9.7% increase in global automotive production,
– Growth in all geographical areas, including:
* Europe, driven by a successful first half of 2021 a large number of production starts in Q3 and positive momentum in electric vehicles,
* China and the Rest of Asia, thanks to a strong recovery from COVID and a lower relative impact from the semiconductor shortages.

Outlook:
Updated guidance for FY 2021 demonstrating a strong adaptation capacity in the face of the semiconductor crisis and supported by solid financial fundamentals.

The third quarter of 2021 has witnessed an exceptionally volatile market, based on the ongoing supply shortage of semiconductors. This has led to unforeseeable stops and starts in production on the basis of last minute notifications by car manufacturers. The subsequent and unforeseeable sharp reduction in production volumes is evidenced by IHS’ drastic revision to worldwide automotive output for 2021.
Our agility and solid financial fundamentals give us confidence in our ability to manage this difficult period together with our customers. Our teams are doing a remarkable job of increasing the flexibility of our production facilities and adapting our operations. As of now, IHS foresees some recovery in the second half of 2022 and we will be ready for it, supported by a solid backlog. Moreover, we are significantly sharpening our focus on cost reduction and cash generation.
We are continuing to lay the groundwork to support our long term growth strategy which aims to increase the content per vehicle, expand our customer base, and accelerate our strategy to promote clean mobility. We see sustainability not as a constraint, but as a competitive advantage and driver of change. On December 8, we will present our objectives in relation to our sustainability roadmap.
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

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2021 Q3 Confcall presentation

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