PLASTIC OMNIUM
Gains in sales and operating profit as investments come on stream / Asia and western Europe deliver greatest growth / Plan to increase sales to EUR 7 bn by 2018 is on track
Operating profit (EBITDA) at French plastics processor and automotive OEM Plastic Omnium (Levallois; www.plasticomnium.com) rose by 9.0% year-on-year in 2014, reaching EUR 649m, equivalent to 12.2% of sales, which increased by 3.7% to EUR 5.31 bn.
In 2014, the operating margin in the company’s automotive division was EUR 402m, or 8.2% of sales, up from EUR 370m in 2013. Sales in the division rose by 4.9% to EUR 4.88 bn, 6.1% on a like-for-like basis, compared with 3.3% growth in global automotive production. The division’s revenue in Europe increased by 7.4%, with growth boosted by its performance in the UK and Germany, where the company launched automotive programmes involving weight- and emissions-reduction products including tailgates and selective catalytic reduction (SCR) emissions control systems.
The pace of sales growth was a more modest 2% in North America. However, the company said that performance is expected to improve in this region as two plants come on stream in the US for Volkswagen and General Motors in second-half 2015 – see Plasteurope.com of 26.05.2014 – as well as a plant in Mexico in 2017.
In China, which saw a 9.4% rise in production in 2014, the group posted 23% growth in sales to almost EUR 430m, boosted by production increases at five plants opened in 2013 and the commissioning of four new plants in 2014. The company has also opened a development centre outside Shanghai / China – see Plasteurope.com of 12.12.2013.
Growth in group sales was driven primarily by Asia and western Europe, which saw year-on-year increases of 10.3% and 11.7% respectively. In France, sales fell by 7.9% as the company’s environment division, which produces predominantly refuse containers, was hit by the election period in the country. France accounts for around 40% of the division’s sales.
Looking forward, the company said that the global automotive market is expected to grow by an average of 3% annually between 2014 and 2018. The company confirmed its targets outlined in its business plan announced in December 2014 (see Plasteurope.com of 16.12.2014) that it aims to deliver growth at twice the market rate over the period and generate sales of EUR 7 bn in 2018.
In 2014, the operating margin in the company’s automotive division was EUR 402m, or 8.2% of sales, up from EUR 370m in 2013. Sales in the division rose by 4.9% to EUR 4.88 bn, 6.1% on a like-for-like basis, compared with 3.3% growth in global automotive production. The division’s revenue in Europe increased by 7.4%, with growth boosted by its performance in the UK and Germany, where the company launched automotive programmes involving weight- and emissions-reduction products including tailgates and selective catalytic reduction (SCR) emissions control systems.
The pace of sales growth was a more modest 2% in North America. However, the company said that performance is expected to improve in this region as two plants come on stream in the US for Volkswagen and General Motors in second-half 2015 – see Plasteurope.com of 26.05.2014 – as well as a plant in Mexico in 2017.
In China, which saw a 9.4% rise in production in 2014, the group posted 23% growth in sales to almost EUR 430m, boosted by production increases at five plants opened in 2013 and the commissioning of four new plants in 2014. The company has also opened a development centre outside Shanghai / China – see Plasteurope.com of 12.12.2013.
Growth in group sales was driven primarily by Asia and western Europe, which saw year-on-year increases of 10.3% and 11.7% respectively. In France, sales fell by 7.9% as the company’s environment division, which produces predominantly refuse containers, was hit by the election period in the country. France accounts for around 40% of the division’s sales.
Looking forward, the company said that the global automotive market is expected to grow by an average of 3% annually between 2014 and 2018. The company confirmed its targets outlined in its business plan announced in December 2014 (see Plasteurope.com of 16.12.2014) that it aims to deliver growth at twice the market rate over the period and generate sales of EUR 7 bn in 2018.
02.03.2015 Plasteurope.com [230594-0]
Published on 02.03.2015
German version of this article...