Plastic Omnium has posted 2017 overall net profit up 36% to EUR425m (US$531m), with revenue improving 15% to EUR8bn.
The French supplier’s automotive division saw share growth across all regions last year, with revenue rising 16.7% to EUR7.66bn.
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The growth was attributable to market share gains, the ramp-up of new production capacities,and success of products launched. The sharp growth in revenue stemmed from all operating regions.
Business was sustained in Europe, which accounts for 53% of total automotive sector revenue. It rose by 19.2%, boosted by the acquisition of Exterior Systems, a business which is mainly European.
“Plastic Omnium once again achieved a record year,” said chairman and CEO, Laurent Burelle. “In 2017, we outperformed the global automotive market by nine points and posted growth across all operating regions.
“We successfully consolidated the businesses acquired in 2016 and continued to improve our industrial performance. With our financial solidity and confidence in our capacity to continue to develop our activities and increase our profitability, we are stepping up our innovation programme to address the challenges of tomorrow’s carbon-free, connected and autonomous cars.
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By GlobalData“We are investing in new research centres, developing and acquiring new technologies and training and recruiting tomorrow’s skills.
“In a mixed global environment, we are enthusiastic as we move into 2018 with the outlook of a further improvement in results.”
