Regulatory News:
Compagnie Plastic Omnium (Paris:POM):
Over the first nine months of the year:
- Sustained growth: +20.7% (+22.6% in
the Automotive business); +11.4% at constant scope and exchange
rates
- Strong outperformance of 9.1 points
in comparison with worldwide automotive production
- Very high growth in all
regions
For the 3rd quarter 2017:
- Strong organic growth: +9.6% at
constant scope and exchange rates
- Negative currency effect of -€51.7
million
For 2017 as a whole:
- Strong outperformance in comparison
with worldwide automotive production
Investor Day held on December 13, 2017 in Levallois
(Paris)
Breakdown of economic revenue by
business segment
In €M, by segment
9 months Change
Change atconstant scopeand
exchangerates3
2016 2017
Automotive 4,613 5,656 +22.6%
+11.8% Environment 277 246 -11.3% +4.1%
Economic revenue1 4,889
5,901 +20.7% +11.4% Joint
ventures 776 913 +17.6% +18.1%
Consolidated revenue2 4,114
4,989 +21.3% +10.1%
Over the first nine months of the year 2017, economic
revenue1 of Plastic Omnium totaled €5,901.4 million, an increase of
20.7% in reported data, in comparison with the first 9 months of
the year 2016. Growth was 11.4% at constant scope and exchange
rates (-€24.3 million due to currency effects and +€654.3 million
due to scope3).Consolidated revenue2, excluding joint ventures,
amounts to €4,988.7 million. It rose by 21.3% based on published
figures compared to the first 9 months of 2016 and by 10.1% at
constant scope and exchange rates.This sharp increase is
attributable to:
- organic growth of 11.8%, i.e. €537
million, in the automotive division, which outperformed worldwide
automotive production by 9.1 points;
- the exterior systems acquired on July
31, 2016 (with a scope effect of +€558 million for the first 7
months of 2017).
Over the first 9 months of the year 2017, Automotive revenue1
for Plastic Omnium was €5,656.0 million. It grew by 22.6%, and
11.8%, at constant scope and exchange rates3, in a context of
worldwide automotive production that was up by 2.7% (source: IHS
October 2017), thus representing market outperformance of 9.1
points. This shows the solidity of the order book, with the
confirmation of gains in market shares, the ramp-up of new
capacities (Mexico, England), and the success of the portfolio of
innovative products.
On September 20, Plastic Omnium announced its plan to sell its
Environment division.Following the disposal of non-core activities
in mid-2016, the Environment division's activity is now fully
focused on products and services aimed at optimizing waste
management for local authorities and industry. Business activity
rose by 4.1% at constant scope and exchange rates.
In the 3rd quarter of 2017, economic
revenue1 of Plastic Omnium totaled €1,839.2 million, an increase of
7.6%, in reported data, compared to the 3rd quarter of 2016, and by
9.6%, at constant scope and exchange rates. In the 3rd quarter,
exchange rates had a negative impact of €51.7 million on growth,
mainly due to the fall in the value of the dollar over the
period.
Consolidated revenue2 in the 3rd quarter of 2017 came to
€1,533.8 million, an increase of 5.5% compared to the 3rd quarter
of 2016 (+7.8% at constant scope and exchange rates).
Breakdown of economic revenue by
region
In €M and as a % of revenue, by
regionAutomotive and Environment
9 months Change
Change at constantscope andexchange
rates3
Automotive changeat constant
scopeand exchangerates3
2016 2017
Europe 2,648 3,198 +20.8% +4.4% +4.4%
54% 54%
North America 1,300 1,539 +18.4% +18.4% +18.2%
27% 26% South
America 131 205 +57.3% +32.1% +36.1% 3% 4%
Asia, including China 811
959 +18.3% +19.1% +19.3% 17% 16%
Economic revenue1
4,889 5,901 +20.7% +11.4% +11.8%
100% 100%
Joint ventures 776 913 +17.6%
+18.1% +18.1%
Consolidated revenue2
4,114 4,989 +21.3%
+10.1% +10.5%
Growth of Automotive activity across
all regions
Activity in Europe, which accounts for 53% of total automotive
revenue1, increased by 24.3%. It benefited from the acquisition of
external systems, a mainly European business. At constant scope and
exchange rates, the activity posted an increase of 4.4% compared to
a 2.4% rise in automotive production.
Business in North America grew by 18.2% at constant scope and
exchange rates over the first 9 months of the year, outperforming
automotive production by 22.6 points. The business benefited from
the new capacities that have come on stream over the past 2 years
(2 plants commissioned in the United States in 2015, followed by 3
plants in Mexico in 2016 and 2017), and the expected ramp-up of SCR
systems to reduce diesel vehicle emissions in the United
States.
Business in Asia, including China, increased by 19.3%, at
constant scope and exchange rates. In China, which represents
revenue1 of €509 million, or 9% of total revenue, the increase in
business at constant exchange rates, came to 24.4% over the first
nine months of the year, for a 3.4% increase in automotive
production. The Group benefited from market share gains and the
high investments made over the last 3 years to develop the
industrial footprint.
Performance evaluation over the
period
- Turnaround of
the external systems business acquired
The external systems business acquired in July 2016 for a final
amount of €402 million has now been completed. Its industrial
rationalization is continuing at a sustained pace, with the
recording of the first significant impacts on its operational
profitability.
- Innovation as
a growth and performance lever
SCR systems for reducing diesel vehicle emissions recorded
further growth worldwide with an increase of 46% over the first 9
months of the year to reach revenue of €293 million. At present, 19
programs are under production and 16 are under development for 13
carmakers.The range of tailgate and spoiler products has been
enhanced. Today, 53 programs are under production while 33 are
under development.Production of the first pressurized tanks for
plug-in hybrid vehicles started in December 2016. Four programs are
also in the development phase. The Group has thus taken position to
cater for the strong growth of hybrid electric vehicles.
- A sustained
investment program to develop and optimize its growth-tapping
industrial facilities
Committed to a major investment program of €2.5 billion over the
2017-2021 period, the Group continued its investments in the 3rd
quarter to further strengthen and optimize its industrial
facilities through:
- four new plants to be launched in 2018:
one in China, one in India, and two in the United States, including
the Greer plant (in South Carolina) – the pilot plant for the
deployment of the 4.0 industry of the future within the Group;
- three plants to be launched in 2019:
one in India, one in Morocco and one in Slovakia;
- an advanced research center focused on
new energies (hybrid, hydrogen, fuel cell) in Brussels, Belgium,
that will open in early 2019, with 200 engineers, thus bringing
together on a single site the Group's fundamental research in this
field.
- Strengthening
of the Group's majority control
On July 20, 2017, the Board of Directors decided to cancel 1.5
million treasury shares as of August 14, 2017. After this
cancellation, the percentage of control of Burelle SA rose from
57.01% to 57.57%.
2017 outlook
For the whole of 2017, the Plastic Omnium Group will largely
outperform worldwide automotive production (expected to grow around
2%), and will record a significant increase in revenue.The 2017
financial results will show a strong increase and the Group's
balance sheet will be further strengthened, reflecting the
continuous improvement of industrial performance combined with the
impacts of the rationalization of the acquired business.
On December 13, 2017, Plastic Omnium will hold an Investor Day
dedicated to the Group's strategic plan for the 2017-2021 period,
and its innovation strategy for a cleaner, safer and smarter
vehicle of the future.
Calendar
December 13, 2017 Investor Day – 10am February 15, 2018 2017
annual results – 9am
These two meetings will be held at the Group's administrative
headquarters:1 allée Pierre Burelle – Levallois-Perret (Paris –
France)
Glossary
1. Economic revenue corresponds to consolidated revenue, plus
revenue from the Group's joint ventures, consolidated at their
percentage of ownership. This metric reflects the operating and
managerial realities of the Group.2. The consolidated revenue, in
implementation of IFRS Standards 10-11-12, does not include the
share of joint ventures, which are consolidated by using the equity
method.3. For 2017, the scope effects exclude Faurecia's Exterior
Systems activity and the Chinese Changchun plant. In 2016, the
following restatements were recorded: the disposals of Signature
Limited and Emballagen in the Environment division, and the
disposal of the trucks operations in the Automotive division.4. The
revenue per region breaks down as follows: Europe (including
Africa), North America, South America and Asia.
Appendix – 3rd quarter 2017 revenue
In €M, by segment
3rd quarter
Change
Change at constantscope andexchange
rates3
2016 2017
Automotive 1,620 1,762 +8.8%
+10.2% Environment 90 78 -14.1% -1.8%
Economic revenue1 1,710
1,839 +7.6% +9.6% Joint ventures
256 305 +19.1% +19.7%
Consolidated
revenue2 1,454 1,534
+5.5% +7.8%
In €M and as a % of revenue,by region
3rd quarter Change
Change atconstant scopeand
exchangerates3
2016 2017
Europe 905 963 +6.4% +5.7% 53%
52% North America 467 491 +5.1% +10.8%
27% 27% South
America 55 76 +38.5% +35.0% 3% 4%
Asia, including China 282 309 +9.4% +15.1%
16% 17%
Economic revenue1 1,710 1,839
+7.6% +9.6% 100% 100%
Joint ventures 256 305 +19.1% +19.7%
Consolidated revenue2 1,454
1,534 +5.5% +7.8%
Plastic Omnium is the world leader in automotive exterior
components and modules, automotive fuel systems, and waste
container solutions for local authorities and companies. The Group
and its joint ventures have 32,000 employees across 124 plants, 23
R&D centers and 31 countries worldwide, serving 74 automotive
brands. Plastic Omnium is listed on Euronext Paris, compartment A.
It is eligible for the Deferred Settlement Service (SRD) and is
part of the SBF 120 and CAC Mid 60 indices (ISIN code:
FR0000124570).
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Compagnie Plastic OmniumFinancial informationTel. : +33 (0)1 40
87 66 78Fax : +33 (0)1 40 87 96
62investor.relations@plasticomnium.com
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