Earnings Release • Apr 21, 2011
Earnings Release
Open in ViewerOpens in native device viewer
Paris – 21 April 2011
Compagnie Plastic Omnium's consolidated revenue rose by 36.1% to €977.8 million in the three months that ended March 31, 2011. Based on pro forma first-quarter 2010 figures, with Inergy Automotive Systems fully integrated as from 1 January 2010, the increase was 14.5%.
| In € millions, by business | 03/31/2010 | 03/31/2011 | Change |
|---|---|---|---|
| Plastic Omnium Automotive | 614.5 | 864.2 | +40.6% |
| Plastic Omnium Environment | 104.2 | 113.6 | +9.0% |
| Consolidated revenue | 718.7 | 977.8 | +36.1% |
| In € millions and as a % of revenue, by region |
03/31/2010 | 03/31/2011 | Change |
| France | 165.4 | 195.5 | +18.2% |
| 23% | 20% | ||
| Europe (excluding France) | 283.3 | 377.3 | +33.2% |
| 40% | 38% | ||
| North America | 152.9 | 215.1 | +40.7% |
| 21% | 22% | ||
| South America | 30.1 | 47.1 | +56.5% |
| 4% | 5% | ||
| Asia | 87.0 | 142.8 | +64.1% |
| 12% | 15% | ||
| Consolidated revenue | 718.7 | 977.8 | +36.1% |
| 100% | 100% |
For the period, Plastic Omnium Automotive revenue rose by 40.6% (15.2% on a pro forma basis). Benefiting from sustained automobile production worldwide, the Group continued to deploy its targeted strategy of strengthening the manufacturing base in fast-growing regions. Revenue from Asia and South America was up by 67% and now accounts for 22% of the Automotive Division total. The Company also reaped the benefits of its successful initiatives to make vehicles lighter with the production start-up of the first two hybrid tailgates (thermoplastic and composite) for PSA Peugeot-Citroën and Land Rover.
Business at Plastic Omnium Environment continued to trend upwards, with revenue rising by 9%. The Division is in the process of acquiring a company that manufactures underground containers, which will strengthen its product lineup in this rapidly expanding market segment.
The outlook for second-quarter 2011 is good. Although it has little exposure in Japan, Compagnie Plastic Omnium nonetheless is diligently monitoring the possible impact of the catastrophic events in the country on worldwide automobile production. Given the current economic environment, the Company's first-half financial results, to be released on 21 July 2011, will continue to show high margins.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.