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FRANCE: Plastic Omnium unveils H1 net income up 31% to EUR142m

By Simon Warburton | 24 July 2015

Plastic Omnium has posted half-year net income up 31% to EUR142m (US$155m), with sales rising 11.8% to EUR2.95bn.

"Results for the first-half 2015 are in line with the strategic plan presented in December, 2014, said Plastic Omnium chairman and CEO, Laurent Burelle.

"Our results grew strongly to achieve historical highs, allowing us to step up our industrial investments and technological innovation while simultaneously increasing free cash flow.

"We have booked some big orders, significantly strengthening our positions in exterior body parts and fuel systems and showing the market's appetite for our weight and emission reduction products.

"As a result, we are one year ahead of schedule on meeting our growth targets and will hit EUR7bn in sales by 2017 rather than 2018 as initially planned. 95% of this EUR7bn is already in our order book."

Automotive sales rose 3.5% at constant exchange rates, compared to a 1.3% rise in automobile manufacturing in the first-half of 2015.

Sales outperformed the market by more than two percentage points during the period.