2021 Full-year results
Outperformance in key markets amidst volatile market backdrop.
Solid cash generation.
Record order book volumes.
|Increased flexibility to absorb the impact of the global semiconductor shortage
• Economic revenue: €8.0 billion, +4.6% on a like-for-like basis
• Operating margin: €303 million, or 4.2% of consolidated revenue, of which 5.2% for Plastic Omnium Industries
• Free cash flow: €251 million versus FY 2021 guidance of > €220 million
• Net result group share: €126 million
• Enhanced liquidity: €2,670 million
• Proposed dividend of €0.28, payout of 32%
Record order book provides strong visibility
– Acceleration in fast-growing segments
Strengthened position in both China and electrification
– Outperformance in China (4.1 points) with a 10.7% increase in revenue driven by battery electric vehicles
– Launch of new division in hydrogen with of a comprehensive offer and fully operational production capacities
Enhanced cost-management and priority on cash flow
– Increased cost flexibility to counter the impact from production stoppages
– Strict monitoring of investments and operational inventories while maintaining the Group’s capacity for innovation
– Outperformance relative to global automotive production (based on IHS projection for FY 2022 of -5%)
– Operating margin between 5-6% of revenue
– Free cash flow in excess of €260 million
“In the context of the unprecedented challenges that our industry is facing, we achieved our objectives for the year. This performance reflects the highly effective measures that we took to increase flexibility and reduce costs, the active mobilisation of our teams, and significant commercial outperformance, particularly in Asia and in electrification. We have also continued to invest in hydrogen, enabling us to establish the Group’s position across all mobility sectors.
2021 also marked a crucial milestone in the Group’s journey with the rollout of an ambitious carbon neutrality roadmap that we are now deploying site by site. Whilst the short-term situation continues to present its challenges, our long-term ambitions remain steadfast, and we are well-positioned to continue to gain market share and seize new opportunities in growth areas.”
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE
2021 consolidated financial statements (only FR)