Revenues up 32%
– Strong outperformance in Asia and China.
Recovery in operational performance
– Operating margin at 6.2% of revenues.
Strong financial position
– €151 million of free cash-flow and a net debt/EBITDA ratio of 0.9x.
Guidance raised for full-year 2021
– Based on annual automotive production of 77 million vehicles
Acceleration of clean, smart mobility strategy
– Sharp increase in orders in clean mobility, batteries and hydrogen.
– Technical progress in the hydrogen product range and launch of new electric-vehicle modules.
– Development of a carbon-neutrality roadmap.
Laurent Favre, Chief Executive Officer of Plastic Omnium, said:
Our earnings recovered to pre-crisis levels in the first half of 2021, despite disruptions in operations caused by component shortages at our clients sites and higher prices in raw materials. This feat was possible thanks to the highly effective measures we took to increase flexibility and to reduce costs. Above all, our first-half performance results from the work done by our teams who are dealing with volatile production volumes on a daily basis with great agility, following on from the total shutdown of our plants in the first half of 2020. I would like to thank them for their unrelenting commitment.
These earnings, accompanied by an increase in free cash-flow, support our strategy of becoming a leading player in clean, smart mobility. The automotive market is accelerating its transformation, and so is Plastic Omnium, by bolstering our client portfolio, order book and technological offering. Our non-financial targets are also a key part of our ambition.
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2021 Half-year results presentation
2021 Interim financial report
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