(AOF) – Plastivaloire took stock on Monday evening of its activity for the 1st quarter of 2021-2022 (October-December). Thus, the automotive plastics manufacturer achieved a turnover of 160.8 million euros, down 15.9% compared to the same period of the previous year. The group specifies that it is suffering from an unfavorable comparison effect, the first quarter of 2020-2021 having set an all-time record, driven by a rebound effect after the restriction periods.
Overall, Plastivaloire explains that the first quarter of the 2021-2022 financial year took place as anticipated in an unfavorable context, in line with the last quarter of the 2020-2021 financial year. Business continued to be impacted by “stop & go” periods at customer production centers, particularly automotive, due to shortages of electronic components.
According to market expectations, the disruptions related to the shortage of semiconductors should continue for a few more months with a gradual normalization expected from mid-2022.
In this context, Plastivaloire maintains its sales target of around 700 million euros, higher than that of the previous financial year, counting on an improvement in activity quarter after quarter and on a return to growth in second half, i.e. reverse seasonality compared to 2020-2021.
Like all market players, the group also confirms that it is facing inflationary pressures on raw materials, transport and energy. “The challenge is to negotiate and to be able to pass them on quickly to its selling prices, particularly in Europe, in order to achieve the ambitious Ebitda margin target (around 10% over the financial year)”, concludes Plastivaloire.
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