Strong profitable growth, generating free cash flow.
Major acquisitions and strategic investments
towards clean and connected mobility
- The Group achieved all financial targets for 2022 and revises its revenue target for 2025 upwards
- Strong growth in economic revenue (+18.2% at €9,477 million), of which +9.7% organic, outperforming global automotive production by +2.2 points
- Operating margin up significantly by +20.2% at €364 million, equating to 4.3% of published consolidated revenue (5.1% excluding acquisitions of which 5.5% in 2nd semester), reflecting excellence in industrial performance and a dynamic and agile management of operations
- Robust growth in Net result, Group share (+32.6% at €168 million as published), proposed dividend of €0.39 per share, up +39%
- Offensive approach to innovation (e.g. launch of OP’nSoft, embedded software solutions) and targeted management of industrial capex (i.e. 4.1% of revenue)
- Ramp-up of momentum in order intake in the highly promising hydrogen market, signature of major contracts (Safra, Stellantis, Hyvia, Ford) and future construction of the largest hydrogen vessels factory in Europe
- Further year of strong free cash flow generation of €289 million excluding acquisitions (€243 million including acquisitions), well above target
- Major acquisitions, diversification and strengthening of the growth and value creation profile with €1.3 billion invested, sustained robust financial structure (leverage ratio of 1.9x EBITDA)
- Implementation of the carbon neutrality roadmap, with a 9% decrease in CO2 emissions (scopes 1 & 2) compared to 2021 and 26% compared to the 2019 baseline for our commitments. CDP Climate A- rating.
« We are satisfied with what we have accomplished in 2022 in an unprecedented economic and geopolitical context. Thanks to Plastic Omnium’s operating and financial profile, we were able to successfully implement our strategic roadmap, make a number of technological shifts and secure strong growth drivers and significant future value creation. The performance and leadership of our traditional activities remain the cornerstone enabling the diversification of Plastic Omnium’s portfolio. Supported by its historical position in exterior automotive parts and fuel systems, the Group now has three new activities (lighting, electrification and hydrogen), enabling it to meet the sector’s challenges, both in individual and heavy mobility. Some of this new expertise has come from the major acquisitions completed by our Group during the year. We have considerable experience in integrating new activities and will invest the necessary efforts to ensure these activities achieve profitability levels in line with those of the Group. Finally, with our new software entity (OP’nSoft) we are well positioned at the center of the challenges facing embedded software. All this would not have been possible without competent and committed teams and I would like to take this opportunity to warmly thank them. »
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE
Consolidated financial statements 2022