(BFM Bourse) – The third quarter revenues of the plastics and automotive supplier rose 11.6%, despite the vagaries of automotive production. On the Paris Stock Exchange, the group’s share gained more than 7%.
Despite an automotive industry still hampered by supply difficulties, Plastivaloire raised the bar in the third quarter of its 2021-2022 financial year, ending next September. The activity of the Tours group thus returned to the green over the period from April to June, with an increase of 11.6% over one year, bringing its revenues to a total of 179.6 million euros.
The plastics and automotive supplier is thus returning to growth, after having seen its revenues fall by 15.9% in the first quarter, then fall by 2.9% in the second. This good quarter also made it possible to limit the fall in activity over the first nine months of the year to 2.9% at 534.3 million euros.
“Stop and Go”
Plastivaloire has especially returned to growth in equipment dedicated to the automobile, a segment which represents approximately 80% of its annual turnover. Revenues thus rose by 9.1% to 142 million euros in the third quarter, after respective declines of 19.2% and 6% in the first and second quarters.
“The group benefited from its positioning on promising programs in a context of gradual recovery in global automotive production, despite the shortages of electronic components which continue to cause occasional episodes of ‘stop & go’ among manufacturers”, explained Plastivaloire.
Carlos Tavares, the managing director of Stellantis, estimated that these difficulties on semiconductors, a major concern for the sector, should only improve “slowly” in the coming months. The leader had thus warned at the end of July that a return to the situation prior to the pandemic should not be counted on before the end of 2023.
In equipment for industry and consumer products (parts for mobile phones, irons, television backs, etc.) Plastivaloire saw its revenues increase by 22.4% in the third quarter.
This good point of activity allows the Plastivaloire share to fuel the stock market. At the start of the afternoon, the action rose 7.1% to 4.28 euros.
Regarding its outlook, the company confirmed its objective of a turnover of around 680 million euros for the whole of the 2021-2022 financial year. It also indicated that it is aiming for a gross operating margin (Ebitda) in the second half of this same year alone, slightly improving compared to that of the first half, when it was 7.1%.
Julien Marion – ©2022 BFM Bourse