PARIS (Agefi-Dow Jones)–Automotive supplier Plastic Omnium announced on Thursday that it wanted to seize the opportunities of a radically changing mobility market in order to achieve economic revenue of around 11 billion euros in 2025 then more than 15 billion euros in 2030. In the industrial sector, so-called “economic” sales include the contribution of joint ventures.
Plastic Omnium expects 40% of its targeted revenue in 2030 to come from its new activities in lighting, batteries, software and driver assistance. “In the context of accelerating societal and technological changes and mobility uses, Plastic Omnium is presenting an ambitious growth strategy backed by its businesses and driven by the expansion of its offer to lighting and electrification. and creator of value for all of its stakeholders”, said Laurent Favre, the general manager of the automotive industry subcontractor, quoted in a press release.
In the medium term, the automotive industry subcontractor also plans to convert an average of between 3% and 4% of its economic turnover into free cash flow each year, to devote the equivalent of 5% of its sales to investments and to limit its net debt to EBITDA ratio to 2.
When publishing its first quarter earnings last April, Plastic Omnium confirmed that it was aiming for a more flattering growth in the group’s economic revenue than that of global automotive production in 2022. On Thursday, the leaders specified that the economic sales in the current fiscal year are expected to reach 9 billion euros.
“Building on the integration of the acquisition projects announced recently, Plastic Omnium will have 37,500 employees, 147 factories and 47 R&D centers in 25 countries by the end of 2022,” said the group. By the end of this year, the automotive supplier will be organized around five activities: intelligent exterior systems, modules, clean mobility systems, new energies and lighting.
Also for 2022, the group founded and controlled by the Burelle family is aiming for an operating margin of between 5% and 6% of its turnover and a free cash flow of more than 260 million euros.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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May 12, 2022 12:16 ET (16:16 GMT)