-  22 October 2020

Significant recovery in Q3 2020

In Q3 2020:
- Revenue: €2,097 million (down 3.1%*)
- Faster-than-expected recovery in worldwide automotive production, which was down 4.3% (versus a decline of 33% in the first half-year), magnifying the positive effects of the cost-saving and cash generation plans
- Confirmation of operational improvement at the Greer plant in line with targets

For the first nine months of 2020:
- Revenue of €5,330 million (down 20.9%*)
- Worldwide automotive production: down 23.9%
- Outperformance across all regions, with:
o 9 points in Europe, driven by the Group’s successful positioning in electric vehicles and development of more content per vehicle
o 6 points in China, with market share gains
o Outperformance of 3 points worldwide

More ambitious goals:
- 2020 financial performance confirmed
- Group transformation to boost efficiency through its Omega program
- Innovation strategy accelerated to achieve clean and sustainable mobility

“Plastic Omnium’s team have accomplished outstanding work to enhance the flexibility of our industrial facilities and adapt our operations to volatile automotive production, which will slowly recover over the years to come. The program to cut costs and increase cash generation is starting to produce results. Together with its Omega transformation plan to improve operational efficiency, the Group can plan on rapidly returning to its profitability benchmarks.
Plastic Omnium has created an opportunity out of this unprecedented crisis to strengthen its fundamentals.
The Group is unquestionably a leader in clean and connected mobility. Through its high involvement in 100% electric programs, Plastic Omnium has increased its content per vehicle and broadened its customer portfolio. At the same time, the Group is accelerating its strategy to develop clean mobility. At a special conference scheduled for November 25, we will present our global approach for the entire value chain of hydrogen solutions, from storage to fuel cell systems.”
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

*Like-for-like change in economic revenue

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