Plastic Omnium has posted first-half automotive revenue of EUR3.9bn, up 30%, including EUR492m from exterior body parts, a business acquired in July last year.
Group economic revenue was EUR4.06bn, up 27.8%, while net profit, Group share, was EUR210m, up 35.4%
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Growth in automotive production was 2.8% during the same period as a result of market share gains in North America and China, supported by a major investment programme and a strong position in the SUV segment.
The result was helped by greater diversification of the customer portfolio with increased penetration particularly due to Jaguar Land Rover and an unnamed Chinese national carmaker.
Plastic Omnium also cites: “The success of our innovative products, in particular the pick-up in SCR emissions control systems for diesel engines,” whose contribution to revenue rose 57% in first-half 2017, to EUR202m.”
Outlook:
Automotive production for the full 2017 year is expected to grow by 1.5% to 2%. On that basis, Plastic Omnium will show strong revenue growth, reaching EUR8bn.
Earnings will show strong growth as well with continued improvement to the balance sheet.
Plastic Omnium Group estimates it will produce revenues above EUR10bn in 2021, improve its profitability and generate significant free cash flow.
