Compagnie Plastic Omnium: First Quarter 2016 Sales
April 21 2016 - 1:43AM
Business Wire
Confirmed Outperformance
Regulatory News:
For the 1st quarter of 2016, economic sales1 reported by
Compagnie Plastic Omnium (Paris:POM) reached €1,536.2 million,
up by 6.0% over the 1st quarter of 2015 (up 7.8% at constant
exchange rates).
Consolidated sales2 came to €1,300.8 million at constant
exchange rates over the period (up by 6.7%).
In millions of
euros, by business segment
1st quarter
Change Change - constant exchange rates
2015 2016
Automotive 1,352.9 1,445.7 +6.9% +8.8%
Environment 96.9 90.5 -6.6% -6.0%
Economic sales1 1,449.8
1,536.2 +6.0% +7.8% Joint
ventures 231.2 255.3 +10.4% +13.4%
Consolidated sales2 1,218.6
1,280.9 +5.1% +6.7%
In €
millions and % of sales, by region
1st quarter
Change Change - constant exchange rates
2015
2016 Europe/Africa
770.5 841.4 +9.2% +10.4% 53%
55% North America 394.1
405.1 +2.8% +1.2% 27% 26%
South America 40.5 33.4
-17.5% +15.8% 3% 2%
Asia 244.8 256.2 +4.7%
+8.8% 17% 17%
Economic sales1 1,449.8
1,536.2 +6.0% +7.8%
100% 100%
Joint
ventures 231.2 255.3 +10.4% +13.4%
100% 100%
Consolidated sales2 1,218.6 1,280.9
+5.1% +6.7% 100% 100%
1. Economic sales are the consolidated sales plus a proportional
share of sales from the Group’s consolidated joint ventures. The
figure reflects the operational and managerial realities of the
Group.
2. Consolidated sales, pursuant to standards IFRS
10-11-12, do not include the proportional shares of joint ventures,
which are consolidated using the equity method.
Sustained growth for the Automotive
Division in the 1st
quarter
Over the 1st quarter of 2016, Automotive sales1 for Plastic
Omnium amounted to €1,445.7 million. This is a rise of 6.9% and
8.8% at constant exchange rates while worldwide automotive
production was up by 1.2%.
Business has been very buoyant in Europe, which accounts for 51%
of total sales1 in the automotive division. In a dynamic business
environment (production up by 2.8%), Plastic Omnium is reporting
growth of 13.2% at constant exchange rates.
Growth has been driven specifically by:
- new product launches from Jaguar Land
Rover in England (bumpers for the new Jaguar XE and XJ models in
2015 and bumpers and tailgate for the new F-Pace SUV in early
2016)
- the speed-up in the development of SCR
emission-control systems for diesel vehicles. After the launch of
the Ford Transit in January, Plastic Omnium is now delivering SCR
systems to 6 carmakers (Audi, Porsche, Chrysler, Ford, General
Motors and Toyota). 7 more carmakers will be fitting the Plastic
Omnium SCR system by 2019.
In North America, business is up by 1.3% at constant exchange
rates. Business was penalized intermittently in Mexico by
production downtimes scheduled by carmakers for reasons of model
turn-around. These stoppages have occurred prior to the launch of
new programs that will sustain Plastic Omnium's growth in this zone
as from the 2nd half of 2016.
Growth is speeding up in China with business growth of 16% at
constant exchange rates with automotive production up by 5%. The
Group has benefited from high investment made over the past 3 years
to strengthen the country's industrial footprint and win market
share. The 25 plants now run by the Group in China (of which 13
plants built between 2013 and 2015) are seeing their plant loadings
gradually swell with the numerous new orders now reaching the
production line.
In the rest of Asia, business is steady while automotive
production has dropped by 3%. In all, business in Asia has grown by
8.5% at constant exchange rates.
An enhanced product range to boost the
growth of Plastic Omnium Environment
In the 1st quarter of 2016, sales1 for the Group's Environment
business came to €90.5 million. This figure is down by 6% at
constant exchange rates in a persistently difficult European
market.
The Environment Division should see an upturn in business with
the launch of new voluntary waste disposal products (underground
and semi-underground containers) and a good order book.
Confirmed growth objective for
2016
Like-for-like in 2016, Plastic Omnium is confirming an
outperformance target of around 5 points over global automotive
production, which is expected to rise by 2% to 3%.
The acquisition of Faurecia's Exterior
Systems business
On April 18, 2016, Plastic Omnium signed the SPA (sales &
purchase agreement) for the acquisition of Faurecia's Exterior
Systems. The transaction, with sales worth some €2 billion of which
one half in Germany, should be finalized during the 2nd half of
2016 after clearance from the European competition authorities.
Timetable
April 28, 2016 – Shareholders’ Meeting
July 27, 2016 – Half-year results for 2016
October 20, 2016 - Quarterly sales for the 3rd quarter of
2016
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