Plastiques du Val-de-Loire

Earnings Release • Nov 14, 2023

Langeais – November 14, 2023

Full-year 2022-2023 revenue: €834.2 million, up 18.5%

Record performance, exceeding the annual target

In € million Unaudited figures	2021-2022	2022-2023	Change
9 months	518.9	642.7	+23.9%
4th quarter	185.4	191.5	+3.3%
12 months	704.2	834.2	+18.5%

Plastivaloire Group delivered a solid fourth quarter (July to September 2023) performance, with revenue up 3.3% versus the prior-year period to €191.5 million (up 4.8% at constant exchange rates), representing a new record fourth-quarter performance (bearing in mind a high comparison basis of 29% growth in fourth-quarter 2021-2022).

Revenue in the Motor Vehicle division (parts and tooling) rose by 3.1% to €151.7 million over the period. Industries division (parts and tooling) revenue came in at €39.8 million, up 4.3%. Growth was uniform across both geographic regions. Revenue in Europe ¹ grew by 3.6% to €157.7 million (up 5.0% at constant exchange rates), while in North America – which was not affected by industrial action in the automotive sector – revenue was up 2.2% to €33.8 million (up 4.0% at constant exchange rates).

Buoyed by the fourth-quarter performance, the Group passed the €800 million full-year revenue mark for the first time. Full-year 2022-2023 revenue grew by a strong 18.5% to €834.2 million (up 18.2% at constant exchange rates), exceeding the target set in August (between €810 and €830 million).

Over the full year, revenue in the Motor Vehicle division (parts and tooling) rose sharply to €672.2 million (up 20.9%). The revenue increase – which was well above global automotive production growth – demonstrates that Plastivaloire is reaping the rewards of its referrals obtained over the past few years on high-potential programs.

The Industries division grew by 9.4% over the full year and contributed €162.0 million, reflecting strong sales momentum.

The Motor Vehicles and Industries divisions accounted for 80.6% and 19.4% of the Group's full-year revenue, respectively.

¹ Including activities in Turkey and Tunisia.

Geographically, business was particularly buoyant in Europe, with revenue up by a strong 21.1% to €720.6 million versus 2021-2022 (up 21.8% at constant exchange rates), amid a rebound in automotive production. The Americas region (United States – Mexico), which had already benefited from the economic upturn in the previous year, consolidated its performance with revenue of €113.6 million, up 3.9% (down 1.4% at constant exchange rates).

EBITDA margin confirmed

Based on the good performance achieved to date, combined with the measures taken to limit inflationary impacts on costs and the adjustments made to the pricing policy, the Group confirms that its 2022-2023 EBITDA margin will be slightly higher in the second half of the year than in the first half (7.9%).

Outlook

In an uncertain economic climate that could weigh on automotive production, the Group will continue to leverage its strong program momentum and will focus on further improving its margin indicators. The annual targets for the next financial year will be announced, as is the case every year, when the Group publishes its 2022-2023 results on December 18, 2023.

Next publication: December 18, 2023: 2022-2023 annual results

If you would like to receive financial information about Plastivaloire Group by e-mail, go to www.actusnews.com

About Plastivaloire Group:

Plastivaloire Group ranks amongst the very top European manufacturers of complex plastic parts used in retail consumer products.

Using innovative solutions, it designs and manufactures these high-tech plastic parts and handles their mass production for the Motor Vehicle and Industries sectors.

Plastivaloire Group has more than 6,200 employees and 31 production sites in France, Germany, the United States, Poland, Spain, Romania, Turkey, Tunisia, England, Portugal, the Czech Republic, Slovakia and Mexico.

Number of shares: 22,125,600 – Euronext Paris, Segment B – ISIN: FR0013252186 - PVL Reuters: PLVP.PA – Bloomberg: PVL.FP

Contacts

Plastivaloire Group: Antoine Doutriaux and Vanessa Findeling on +33 (0)2 47 96 15 15

ACTUS finance & communication:

Investor Relations:	Guillaume Le Floch on +33 (0)1 53 67 36 70
	Pierre Jacquemin-Guillaume on +33 (0) 1 53 67 36 79
Press Relations:	Amaury Dugast on +33 (0)1 53 67 36 74