Filters
Go back

GROWTH CONTINUES STRONG IN THIRD-QUARTER 2013

The sharp increase in revenue in third-quarter 2013 confirms the rise reported in the second quarter of the year. Growth in the third quarter of 2013 amounted to 11.1% (15.8% at constant exchanges rates), following an increase of 11.7% in the second quarter (13.2% at constant exchange rates). For the first nine months of the year, revenue totaled €3,820.4 million, an increase of 8.6% as reported and 10.8% at constant exchange rates. There were no changes in the scope of consolidation.

Advertisement



For the first nine months of the year, Plastic Omnium Automotive reported an 11.9% increase in revenue at constant scope of consolidation and exchange rates, compared with a 2% rise in worldwide automobile production. In the third quarter, the increase at constant exchanges rates was 17.3%, versus a 3% rise in worldwide automobile production, led by China and North America. Business growth in Western Europe was sustained by Plastic Omnium’s presence in major new vehicle programs (the Peugeot 308, Citroën Picasso, Renault Captur and Mercedes GLA) and by the success of the Company’s composite tailgate, in particular with Jaguar Land Rover. As previously announced, August saw the closing of two bumper production plants, one in Belgium and the other in Germany. In China, Plastic Omnium brought three new plants on stream, thereby increasing its current production base in the country to 16 facilities. An additional five plants are being built, including one to produce the first fuel systems for Chinese automobile manufacturer Geely. In the United States, the Company inaugurated its largest fuel system plant, which is capable of delivering some two million units a year. The plant currently produces for Ford.

Revenue generated by Plastic Omnium Environment rose slightly in the third quarter and stood at €344.5 million for the first nine months of the year. The Division deployed the cost-reduction plan introduced in the first half, which aims to bring down costs by €15 million in 2014 and will have a positive impact on operating margin beginning in second-half 2013.

In line with its strategy of independence, Plastic Omnium will continue to self-finance sustained growth. Combined with cost-rationalization programs, this will help to drive a further increase in the Company’s fullyear results.