Plastic Omnium has recorded third-quarter revenue up 10% to EUR2.24bn (US$2.5bn), while the supplier posted nine-month revenue up 17% to EUR6.9bn.
For the 2019 full-year, in expectation of a decline of around 6% in worldwide automotive production, the Group confirms:
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- Outperformance of at least five points over worldwide automotive production
- Operating margin of around 6% of revenue, 2019 EBITDA exceeding 2018 EBITDA (EUR918m)
- Free cash-flow of around EUR300m, including the impact of the real estate disposal project already announced
“In a complex market environment marked by a drop of around 6% in worldwide automotive production in 2019, Plastic Omnium posts strong outperformance, reflecting market share gains in all of its business lines, along with the ramp-up of the Group’s new production facilities and the success of its range of innovative products,” said Plastic Omnium chairman and CEO, Laurent Burelle.
“Despite the short-term impact on profitability due to operational difficulties in the ramp-up of our Greer plant in the US, the Group’s fundamentals remain solid and its cost reduction and free cash-flow generation programmes have been reinforced.
“Our growth will continue in the upcoming years thanks to our solid order book and the 12 plants and three R&D centres opened in 2018-2019.”
