19 April 2013, 00:00
Compagnie Plastic Omnium’s consolidated revenue rose by 3.2% to €1,230million in the three months that ended 31 March 2013. At comparable exchange rates and scope of consolidation, the increase was 3.7%.
While global automobile production declined by 1% in first-quarter 2013, Plastic Omnium Automotive saw new growth in revenue, which rose by 4.0% as reported and by 4.6% at comparable exchange rates and scope of consolidation.
This above-market performance was again led by business outside Western Europe, which expanded by 11% and accounted for 59% of the consolidated total. North America was the region that contributed the most to growth during the period and the United States was the country that made the greatest contribution to revenue. Revenue growth in Eastern Europe was supported by the fuel systems joint venture in Russia, created in April 2012, and a new plant in Hungary that produces front-end modules. Sales in South America benefited from a new plant set up in Brazil and from a market that returned to a solid pace of growth, following a year of stability in 2012. The increase in Asia was led by China, where a new plant was brought on stream in the first quarter and six others are being built.
During the first three months of 2013, new orders for innovative equipment were received from Jaguar Land Rover for composite tailgates, from BMW for TSBM fuel systems and from General Motors for diesel-vehicle SCR emissions-control systems. The trend toward replacing metal with plastic also picked up speed in Asia. After Toyota in India, Suzuki has decided to gradually replace metal with plastic for its fuel tanks and has placed an initial order for plastic tanks in India and Thailand with Plastic Omnium Auto Inergy.
Sales from Plastic Omnium Environment were sustained in France and Spain but impacted by difficulties in other Western European markets.
In the second quarter, worldwide automobile production is trending more favorably. For the full year, Compagnie Plastic Omnium is confirming its forecast for growth that outpaces the increase in worldwide automobile production, which is still expected to increase by 1% to 2%. Compagnie Plastic Omnium will announce its interim financial results on 24 July 2013.