Plastic Omnium, a Growth and Innovation Strategy: SHAPE THE FUTURE NOW!
13 Décembre 2017 - 7:30AM
Business Wire
Regulatory News:
Σ-Sigmatech: To mark its Investor Day, held today at its
Σ-Sigmatech global R&D center for exterior components and
modules in Lyon, Plastic Omnium (Paris:POM) is unveiling its growth
and innovation strategy geared towards meeting the new challenges
of the connected, autonomous and carbon-free car.
2017: a year of strong growth
Plastic Omnium confirms, despite adverse currency effects, that
its 2017 economic revenue will reach 8 billion euros, representing
strong growth compared with the 6.9 billion euros recorded in 2016
and a robust outperformance compared to worldwide automotive
production.The Group’s profitability will improve and will well
exceed the 9% proforma operating margin of 2016, and net
profit-Group share will be up very strongly.
2017-2021: continued outperformance and recurring improvement
in financial indicators
- 10 billion euros in economic revenue
in 2021
Thanks to a backlog secured at more than 85% in 2021, market
share gains on its products and the success of its innovative
offer, Plastic Omnium will continue to outperform worldwide
automotive production by an average of 5 points per year over the
2017-2021 period, bringing economic revenue to 10 billion euros in
2021.Already ranked number 1 worldwide in each of its businesses,
Plastic Omnium aims to strengthen its leadership positions, with
market share of 19% expected in bumpers in 2021, vs. 16% in 2017,
and 25% in fuel systems, vs. 22% in 2017.Plastic Omnium will also
benefit from the development of its portfolio of innovative
products, with market shares of 45% expected in thermoplastic
tailgates in 2021, vs. 40% in 2017, and 26% in SCR systems for the
depollution of diesel vehicles, vs. 17 % in 2017.
- Steady improvement in operating
margin
The Group’s operating margin is expected to increase steadily
over the 2017-2021 period. Plastic Omnium stands to benefit from
the following operating levers:
- the accretive growth of the Group’s
operations in North America;
- the improvement of the utilization
rates of the Group’s industrial facilities, particularly in
China;
- the success of the innovation
portfolio;
- and the faster-than-expected turnaround
of the exterior systems business acquired in 2016.
- More than 1 billion euros in free
cash flow over the 2017-2021 period after 2.5 billion euros in
investments
To meet the commercial successes with the world’s leading
carmakers and satisfy future market needs, Plastic Omnium plans to
invest 2.5 billion euros over the 2017-2021 period. This capital
expenditure is aimed at building new capacities, continuously
optimizing industrial facilities (industry 4.0 and operational
excellence), developing new programs and launching new research
projects.The Group will generate more than 1 billion euros in free
cash flow over the period while leading this investment policy.
Premium positioning to meet the challenges of the car of
tomorrow
Building on the momentum offered by the continuous improvement
of its industrial and financial performance, Plastic Omnium is in
this way giving itself the means necessary to further accelerate
its capacity for innovation so as to meet the challenges
represented by the carbon-free, connected and autonomous car of
tomorrow. Its ambitious and determined policy will give rise to
both new technology investments and strategic acquisitions, as
opportunities arise.
In carbon-free cars, Plastic Omnium is positioned as a player of
storage for each form of energy, developing specific solutions for
plug-in hybrid vehicles (PHEV), turbocharged engine vehicles and
electric vehicles. The Group has also become involved in fuel cell
propulsion.
For the connected and autonomous car, Plastic Omnium is
positioning itself as the integrator of connectivity by developing
its innovation capacity in complex modules that integrate radar and
sensors in the exterior parts. By 2025, smart bumpers and smart
tailgates will represent greater added value and embedded
intelligence.
These new positions will enable Plastic Omnium to pursue
long-term profitable and value-creating growth.
Plastic Omnium has already established new means to achieve this
ambition:
- Ξ PO-CellTech, a fundamental
research center in the field of fuel cells in Israel;
- the construction of Δ-Deltatech,
a new Brussels-based advanced research center dedicated to new
energies, such as hydrogen;
- the launch in Wuhan (China) of
ω-Omegatech, its new testing and development center for fuel
systems for Asia, due to open in 2019;
- the launch of a program to expand and
digitize ∑-Sigmatech, its global R&D center for exterior
components and modules located near Lyon;
- the investment of 20 million euros in
Aster, a venture capital firm specializing in digital
transformation and new industrial models;
- partnerships with prominent
universities such as MIT in the United States, the Technion in
Israel and DTU in Denmark.
With this growth and innovation strategy, Plastic Omnium is
positioning itself to design the exterior modules of the vehicle of
the future and to be a reference equipment supplier for all
propulsion energies (gasoline, diesel, hybrid, hydrogen and
electric).
_____________
The detailed presentation of the 2017-2021 growth and innovation
strategy will take place on Tuesday, December 13, 2017 at
10:30 a.m. Paris time.It will also be accessible via webcast
on the Plastic Omnium Group’s website at www.plasticomnium.com.
Plastic Omnium is the world leader in automotive exterior
components and modules, automotive fuel systems, and waste
container solutions for local authorities and companies. The Group
has 33,000 employees across 124 plants, 23 R&D center s and 31
countries worldwide, serving 74 automotive brands. Plastic Omnium
is listed on Euronext Paris, compartment A. It is eligible for the
Deferred Settlement Service (SRD) and is part of the SBF 120 and
CAC Mid 60 indices (ISIN code: FR0000124570).
Glossary
1. Economic revenue corresponds to consolidated revenue, plus
revenue from the Group’s joint ventures, consolidated at their
percentage of ownership. The figure reflects the operational and
managerial realities of the Group.
2. Consolidated revenue, in implementation of IFRS 10-11-12,
does not include the share of joint ventures, which are
consolidated by using the equity method.
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