Earnings Release • Oct 27, 2011
Earnings Release
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Compagnie Plastic Omnium reported faster growth in the third quarter, with revenue rising 35.2% to €1,034.5, compared to an increase of 33% during the first half.
Over the first nine months of the year, revenue was up 13.8% at constant scope of consolidation and exchange rates.
| in € millions by business | Third quarter | % change | 9 months | % change | ||
|---|---|---|---|---|---|---|
| 2010 | 2011 | 2010 | 2011 | |||
| Plastic Omnium Automotive | 649.0 | 911.8 | +40.5% | 1,940.5 | 2,688.5 | +38.5% |
| Plastic Omnium Environment | 116.1 | 122.7 | +5.7% | 342,6 | 365.5 | +6.7% |
| Consolidated revenue | 765.1 | 1,034.5 | +35.2% | 2,283.1 | 3,054.0 | +33.8% |
| in € millions and as % of revenue | Third quarter | 9 months | ||||
| by region | 2010 | 2011 | % change | 2010 | 2011 | % change |
| France | 148.1 | 170.5 | +15.1% | 488.2 | 579.2 | +18.6% |
| 19% | 17% | 21% | 19% | |||
| Europe (excl. France) | 283.5 | 381.4 | +34.5% | 858.1 | 1,159.5 | +35.1% |
| 37% | 37% | 38% | 38% | |||
| North America | 186.5 | 271.4 | +45.5% | 532.1 | 721.9 | +35.7% |
| 24% | 26% | 23% | 24% | |||
| Asia | 103.8 | 148.9 | +43.4% | 290.2 | 428.7 | +47.7% |
| 14% | 14% | 13% | 14% | |||
| South America and Africa | 43.2 | 62.3 | +44.2% | 114.5 | 164.7 | +43.8% |
| 6% | 6% | 5% | 5% | |||
| Consolidated revenue | 765.1 | 1,034.5 | +35.2% | 2,283.1 | 3,054.0 | +33.8% |
| 100% | 100% | 100% | 100% |
Since the start of the year, Plastic Omnium's Automotive and Environment divisions have both demonstrated their ability to outperform the market.
Plastic Omnium Environment posted a 6.7% gain despite the downward trend in municipal spending, with growth expected to rise at an even faster pace-particularly in underground waste containers-following the recent acquisition of Rotherm in Germany.
Plastic Omnium Automobile reported a 15.1% increase in revenue at constant scope of consolidation and exchange rates, compared to a 4% rise in worldwide automobile output. Through carefully targeted acquisitions, Plastic Omnium is strengthening its ability to capture the strong growth in the global automobile market, which is estimated to increase by 20 million vehicles by 2015, of which 18 million outside Western Europe. In the fuel system segment, Plastic Omnium recently created two majority-owned joint ventures, one in China with BAIC, and the other in Russia with the local market leader. It has also acquired Ford's fuel system operations in the United States. In the exterior components segment, Plastic Omnium is broadening its production base in Eastern Europe with an agreement to purchase Plastal Poland. It also has five new plants under construction: two in China and one each in Poland, Brazil and Morocco.
For the full year, Plastic Omnium expects revenue to climb to over €4 billion from €3.25 billion in 2010 and reaffirms its forecast of a sharp increase in earnings.
Investor Relations: Tel.: +33 (0)1 40 87 64 49 Fax: +33 (0)1 40 87 96 62 [email protected]
Plastic Omnium is the world leader in automotive components and body modules, automotive fuel tanks and systems, and waste container solutions for local communities and companies. The Company employs around 20,000 people and operates 100 plants and 14 R&D centers in 28 countries around the world. Plastic Omnium is listed on the NYSE Euronext Paris stock exchange and is eligible for the "long-only" Deferred Settlement Service (SRD). It is included in the SBF 120 and CAC Mid 60 indices (ISIN code: FR0000124570).
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