Plastic Omnium - 2020 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2020 Comments on the financial year and outlook PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 185 REVENUE By business line In millions of euros 2019 2020 Change Like-for-like change Plastic Omnium Industries 6,919 5,628 -18.7% -17.1% Plastic Omnium Modules 2,264 2,104 -7.0% -3.8% ECONOMIC REVENUE 9,183 7,732 -15.8% -13.8% Joint ventures 689 659 -4.4% -1.5% Plastic Omnium Industries 6,398 5,143 -19.6% -18.2% Plastic Omnium Modules 2,096 1,931 -7.9% -4.6% CONSOLIDATED REVENUE 8,494 7,073 -16.7% -14.8% In 2020, worldwide automotive production fell by 14.4 million vehicles (down 16.8%), from 86.0 million to 71.6 million vehicles. Plastic Omnium generated economic revenue of €7,732 million, down 15.8% compared with 2019 and down 13.8% at constant exchange rates. The figure includes a negative exchange-rate effect of €181 million. The Group achieved outperformance of 3 points relative to worldwide automotive production, driven by Plastic Omnium Modules (outperformance of 13.0 points). Plastic Omnium’s consolidated revenue totaled €7,073 million in 2020, down 16.7% or 14.8% at constant exchange rates, including a negative exchange-rate effect of €161 million. Plastic Omnium’s business activities fared significantly better than total production in Europe (outperformance of +8.3 points), China (outperformance of +6.0 points) and in Asia excluding China (outperformance of +9.7 points). They also outperformed by 2.0 points in North America. The Group’s geographical mix led to a 3-point outperformance at the Group level. Breakdown by geographical zone In millions of euros and as a% of economic revenue 2019 2020 Change Like-for-like change Outperformance/ automotive production Europe 4,799 52.3% 4,131 53.4% -13.9% -13.7% +8.3 pts North America 2,630 28.6% 2,045 26.4% -22.2% -18.7% +2.0 pts China 857 9.3% 847 11.0% -1.2% +0.5% +6.0 pts Asia excluding China 624 6.8% 537 6.9% -13.9% -10.3% +9.7 pts Other 273 3.0% 1,72 2.3% -36.8% -22.6% -0.2 pt ECONOMIC REVENUE 9,183 7,732 -15.8% -13.8% +3 PTS Joint ventures 689 659 -4.4% -1.5% - CONSOLIDATED REVENUE 8,494 7,073 -16.7% -14.8% +2 PTS In Europe, Plastic Omnium’s revenue amounted to €4,131 million in 2020. Revenue in the region fell 13.7%, against a 22.0% decline in automotive production. This outperformance of 8.3 points was driven by Germany, Spain, France and Eastern Europe. The Group benefitted in particular from its successful positioning on new electric vehicle programs (Porsche and Volkswagen) and from the extension of its modules offering, which have increased its content per vehicle. In North America, Plastic Omnium’s revenue totaled €2,045 million in 2020. Revenue for the region fell 18.7% at constant exchange rates, while industry production was down 20.7%. The ramp-up of the 5 new plants opened in the last 3 years is now complete. In Asia excluding China, revenue came to €537 million in 2020, down 10.3% at constant exchange rates. Against a market decline of 20.0%, this represented an outperformance of 9.7 points. Business benefited from a strong recovery in South Korea, India and Thailand. In China, which accounts for 11% of Group economic revenue, Plastic Omnium posted revenue of €847 million. Revenue was stable (up 0.5% at constant exchange rates), which represented an outperformance of 6.0 points. This was thanks to market share gains and growth in the modules business, which launched in China in 2018.