Plastic Omnium has reported a results boost following the acquisition of part of Faurecia’s business in the summer.
Over the first nine months of the year 2016, revenues of Plastic Omnium totalled EUR4,889.3m (US$5,351.05m), an increase of +12.1% in reported data, in comparison with the first nine months of the year 2015. Growth was +11.8% at constant scope and exchange rates (-EUR129.9m due to currency effects and +EUR142.3m due to scope).
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In July Plastic Omnium acquired the Faurecia Automotive Exterior Systems business from Faurecia. This acquisition strengthened the group’s footprint both in industrial terms and in Research and Development, particularly in Germany and Spain, as well as the commercial portfolio of this division with new clients (Audi, Daimler and Ford). With this acquisition, Plastic Omnium confirmed its position as a leader in the production of bumpers and plastic body parts, with a 15% market share, the company said
In the 3rd quarter of 2016, economic revenue of Plastic Omnium totalled EUR1,709.8m, an increase of +20.6%, in reported data, in comparison with the 3rd quarter of 2015, and by +13.4%, at constant scope and exchange rates.
Consolidated revenue in the 3rd quarter of 2016 came to EUR1,453.5m, an increase of 22.2% in comparison with the 3rd quarter of 2015 (+12.6% at constant scope and exchange rates).
For informational purposes, economic revenue in September 2016, following the acquisition of the Faurecia Exterior Systems business, came to EUR695m, an increase of 31%.
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By GlobalDataBreakdown of economic revenue by business segment
Automotive: YTD 2015 – EUR4.08m; YTD 2016 – EUR4.613m; change – 13.10%; change at constant scope/exchange rates – 12.60%
Environment: YTD 2015 – EUR283m; YTD 2016 – EUR277m; change – (-)2.1%; change at constant scope/exchange rates – 0.10%
Economic revenue: YTD 2015 – EUR4.363m; YTD 2016 – EUR4.889m; change – 12.10%; change at constant scope/exchange rates – 11.80%
Joint ventures: YTD 2015 – EUR699m; YTD 2016 – EUR776m; change – 11.00%; change at constant scope/exchange rates – 14.80%
Consolidated revenue: YTD 2015 – EUR3.664m; YTD 2016 – EUR4.114m; change – 12.30%; change at constant scope/exchange rates – 11.20%
Breakdown of economic revenue by region; Automotive and Environment
Europe: YTD 2015 – EUR2.292m; revenue – 53%; YTD 2016 – EUR2.648m; revenue – 54%; change – 15.60%; change at constant scope/exchange rates – 12.00%
North America: YTD 2015 – EUR1.232m; revenue – 28%; YTD 2016 – EUR1.3m; revenue – 27%; change – 5.50%; change at constant scope/exchange rates – 5.90%
South America: YTD 2015 – EUR126m; revenue – 3%; YTD 2016 – EUR131m; revenue – 3%; change – 3.40%; change at constant scope/exchange rates – 27.90%
Asia, including China: YTD 2015 – EUR712m; revenue – 16%; YTD 2016 – EUR811m; revenue – 17%; change – 13.80%; change at constant scope/exchange rates – 18.50%
Economic revenue: YTD 2015 – EUR4.363m; revenue – 100%; YTD 2016 – EUR4.889m; revenue – 100%; change – 12.10%; change at constant scope/exchange rates – 11.80%
Joint ventures: YTD 2015 – EUR699m; YTD 2016 – EUR776m; change – 11.00%; change at constant scope/exchange rates – 14.80%
Consolidated revenue: YTD 2015 – EUR3.664m; YTD 2016 – EUR4.114m; change – 12.30%; change at constant scope/exchange rates – 11.20%
Automotive Division: very sustained growth over the first nine months of the year
Over the first nine months of the year 2016, revenue of Plastic Omnium Automotive was EUR4,612.5m. It grew by 13.1% and 12.6%, at constant scope and exchange rates, in a context of worldwide automotive production that was up by 3.4%, thus representing market out performance of 9.2 points. This shows the solidity of the order book, with the confirmation of gains in market share, new capacities put into production (Mexico, England), and the success of the portfolio of innovative products.
Business was very sustained in Europe, representing 49% of total automotive revenue. In a dynamic context of a 3.2% production increase, Plastic Omnium grew by 13.1%, at constant scope and exchange rates.
Business was particularly strong in the 3rd quarter of 2016 in England (+40.7%), particularly owing to the commissioning and production of the Jaguar-Land Rover exterior parts plant of Warrington-Liverpool in June 2016. Moreover, development of SCR for reducing diesel vehicles emissions continued worldwide, with a 37% increase in the first nine months of the year, reaching revenue of EUR200m, two-thirds of which was achieved in Europe.
Business in North America grew by 5.9%, at constant scope and exchange rates, over the first nine months of the year, after having suffered, during the 1st quarter of 2016, from scheduled production outages by manufacturers in Mexico, for model changes. In the 3rd quarter of 2016, business in North America grew by 9.3%, at constant scope and exchange rates, representing therefore out performance of 7.1 points, confirming that this region will be a major growth area for the Group, with the startup of new capacities in Mexico.
Business in Asia, including China, increased by 18.1%, at constant scope and exchange rates. In China, which represents revenue of EUR417m, or 9% of total revenue, the increase in business at constant exchange rates, came to +24.5% over the first nine months of the year, for a 11.6% increase in automotive production. The Group benefited from the high investments made over the last three years to develop the industrial footprint and increase market share.
The 25 plants now run by the Group in China (including 13 plants built between 2013 and 2015) are seeing their loading progressively swell with many new orders entering into production.
In the rest of Asia, growth in business increased by +11.9%, carried by South Korea, Japan, and India.
