Plastic Omnium’s revenue for first half increased 7.4% to EUR2.57bn (US$3.4bn) compared to EUR2.39bn in the first half of 2012. Its operating income increased 12.3% year over year to EUR190.1m from EUR169.13m. EBITDA increased 10.9% to EUR293m compared to EUR264.2m, while net profit increased 6.4% to EUR104.3m compared to EUR98m.
In all, 58 new automotive programmes were launched in first half 2013 – of which 22 in Western Europe, 17 in Asia and 11 in the Americas. Ten plants are also under construction in the BRICs.
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The success of innovative offerings has resulted in the launch of the first entirely thermoplastic tailgate, which weighs 25% or three kilograms less than an equivalent metal part and in the production of the first SCR systems in North America. These systems, which reduce nitrogen oxide emissions, were developed and first marketed in Europe.
At the same time, the automotive businesses continued and intensified their efforts to reduce production costs and overheads, especially in Western Europe. The Automotive plants in Eisenach, Germany and Herentals, Belgium, both of which produce exterior components, will shut down on 1 August and production will be transferred to other Plastic Omnium plants in Europe.
In this environment shaped by sustained demand and disciplined cost management, Plastic Omnium Automotive generated operating margin of EUR183.6m, representing 7.8% of revenue. This is an increase of 15.5% compared with the EUR159m generated in first-half 2012.
Outlook
In the second half, in an automobile market that will probably trend more favourably with global production expected to increase, Plastic Omnium will launch 49 programmes for new vehicles and step up its spending in capital and innovation projects.
Together, these positive elements will enable a new increase in Plastic Omnium’s sales and earnings.
