Earnings Release • Apr 23, 2009
Earnings Release
Open in ViewerOpens in native device viewer
Paris, 23 April 2009,
Compagnie Plastic Omnium's consolidated revenue declined by 30% to €495 million in the three months that ended 31 March 2009.
| In € millions, by business | 03/31/2008 | 03/31/2009 | Change |
|---|---|---|---|
| Plastic Omnium Automotive | 581.9 | 394.9 | -32,1% |
| Plastic Omnium Environment | 124.6 | 100.1 | -19.7% |
| Consolidated revenue | 706.5 | 495.0 | -29.9% |
| In € millions and as a % of revenue | 03/31/2008 | 03/31/2009 | Change |
| France | 186.3 | 145.4 | -22.0% |
| 26% | 29% | ||
| Europe (excluding France) | 305.8 | 199.3 | -34.8% |
| 43% | 40% | ||
| North America | 139.0 | 91.7 | -34.0% |
| 20% | 19% | ||
| Asia, South America | 75.4 | 58.6 | -22.3% |
| 11% | 12% | ||
| Consolidated revenue | 706.5 | 495.0 | -29.9% |
| 100% | 100% |
Automotive revenue was hit by the steep drop in the global automobile market, whose impact was acerbated early in the year by carmaker inventory drawdowns. In all, worldwide automobile production fell 37% in the first quarter, with declines of 42% in Europe and 52% in North America.
Plastic Omnium expects worldwide automobile production to contract by around 25% over the full year.
The Environment Division demonstrated firm resilience in France, thanks in particular to its long-term service contracts, but still felt the effects of the recession, particularly in Spain, the UK and Germany.
The PO 2009 cost-savings plan is being implemented on schedule. The Group confirms that its debt will be lower at 30 June than at 31 December 2008, except in the event of a carmaker default.
Investor Relations
Tel: +33 (0)1 40 87 64 49 / Fax: +33 (0)1 40 87 96 62 / Email: [email protected]
Plastic Omnium is a world leader in automotive components and modules, and a major European player in products and services for local communities. Plastic Omnium is listed on the Euronext Paris stock market, Compartment B, and is included in the SBF 250 and CAC Mid 100 indexes (ISIN code: FR0000124570).
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.