Plastic Omnium - 2020 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2020 Comments on the financial year and outlook www.plasticomnium.com PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 184 $# $ ) " %$ 5.1 COMMENTS ON THE CONSOLIDATED FINANCIAL STATEMENTS 5.1.1 In millions of euros 2019 2020 Change Economic revenue 9,183 7,732 -15.8% Consolidated revenue 8,494 7,073 -16.7% Operating margin % of consolidated revenue 511 6.0% 118 1.7% -€393 million -4.3 pts Impairment of assets - -255 - Net result group share 258 -251 -€509 million EBITDA % of consolidated revenue 1,005 11.8% 648 9.2% -€357 million -2.6 pts Investments 512 374 -€138 million Real estate divestment -129 - - Free cash-flow 347 34 -€313 million Net debt at 31/12 739 807 +€68 million Net debt/equity 32% 41% +9 pts Net debt/EBITDA 0.7 1.2 +0.5 pt Plastic Omnium’s financial performance differed greatly between the first and second semesters of 2020. In the first half of the year, the Group’s results were strongly affected by the slump in worldwide automotive production (down 32.8% in the first half, including a 43.7% drop in the second quarter). In the second half of 2020, worldwide automotive production was stable year-on-year and recovered more quickly than expected. This amplified the positive impact of plans to cut costs and boost cash generation. As a result, the Group’s results improved relative to the second half of 2019. In millions of euros H1 2020 H2 2020 H2 2019 Economic revenue 3,233 4,499 4,572 Consolidated revenue 2,962 4,111 4,225 Operating margin % of consolidated revenue -116 -3.9% 234 5.7% 230 5.4% Net result group share -404 152 103 EBITDA % of consolidated revenue 171 5.8% 477 11.6% 494 11.7% Investments -226 -148 -204 Free cash-flow of which real estate divestment -572 - 606 - 316 129 Net debt at end of period 1,410 807 739 Net debt/equity 78% 41% 32% Net debt/EBITDA (on a rolling 12-month basis) 2.1 1.2 0.7 Net debt/EBITDA (based on annualized half-year figures) 4.1 0.8 0.7