Plastic omnium Full-Year Report 2023

Highlights

• 2023 economic revenue of €11.4 billion, up significantly by +20.3% (+13.4% organic growth), outperforming annual global automotive production by +3.7 points, in-line with Group target. Consolidated revenue exceeds €10 billion for the first time in Plastic Omnium’s history.
• Operating margin of €395 million, up +€31 million, driven by more sustained activity levels in 2023 than 2022, good cost control in an ongoing high-inflation environment and a marked improvement in the lighting business margin.
• Robust net result, Group share of €163 million and a proposed dividend of €0.39 per share, stable compared to 2022.
• Strong free cash flow generation of €227 million, above the adjusted target of between €190 and €210 million, including controlled investments of 4.7% of revenue.
• Further reduction in Group debt to net debt of €1,540 million and a net debt/EBITDA ratio of 1.7x at December 31, 2023.
• Excellent commercial momentum reflected by a record order intake in 2023 and including in particular major order intakes in the first half of the year.