Plastic Omnium has posted 2018 overall net profit of EUR533m (US$602m), with revenue improving 7.6% to EUR8.2bn.
- Economic revenue: EUR8,244m +7.6%
- Consolidated revenue: EUR7,245m +12.6%
- Operating margin: EUR610m, comparable to 2017 under IFRS 5
- Net profit, Group share: EUR533m +25.4%
Generation of significant free cash flow strengthening the financial structure
- Free cash flow: EUR218m after EUR562m of investment (7.8% of revenue)
- Net debt: EUR698m, representing 32% of equity and 0.8x EBITDA
- Proposed dividend: EUR0.74 +10%
- 2019 financial outlook: outperformance of worldwide automotive production by 5 points, growth in value of the operating margin, and generation of free cash flow of at least EUR200m
"In 2018, Plastic Omnium went ahead with two major strategic moves, with the disposal of its Environment Business and the takeover of HBPO, the world leader for front-end modules," said chairman and CEO, Laurent Burelle. "Now a pure automotive player, the Group is strengthening its leading positions to contribute to the technological transformations towards clean, connected and autonomous cars."
"Our results, once again solid in 2018 despite the first drop in world automotive production since 2009, are giving us the key means we need to be successful with this strategy. Having already taken measures to face a complex market environment, we are confident in our capacity to make further progress in 2019."
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