Plastic Omnium Q3 Report 2023
Economic revenue up +11.5% on Q3 2022
Year-to-date economic revenue up +26.5% on the same period in 2022
Organic growth of +6.5%, outperforming the market by +2.7 points
Solid order intake momentum in all businesses confirming the relevance of our offer
Adjustment of 2023 targets in a tense macroeconomic and market context
- Economic revenuea) growth in Q3 2023 year-on-year (+11.5% to €2,651 million), including +6.5% LFLc). As production in the third quarter slowed down compared to the first half of 2023, Plastic Omnium outperformed global automotive productionf) by +2.7 points, confirming the Group’s ability to outperform the marketf) in 2023.
- Consolidated revenueb) of €2,389 million in Q3 2023, up +12.5%, including +6.8% LFLc) on Q3 2022.
- Strong order book in all activities, securing the Group’s future growth and confirming its technological and business portfolio development strategy.
- Confirmation of revenue target and adjustment of operating margin and free cash flow targets for 2023. The Group confirms its economica) revenue target for 2023, showing strong growth compared with 2022 and outperforming global automotive productionf). The context is marked by high inflation, slowdowns in production mainly of electric vehicles of traditional automakers, more frequent assembly line stoppages, and an intensification of the strike in the United States. In these conditions, the Group adjusts its annual operating margind) target between €370 and €390 million. In addition, the Group adjusts its annual target for free cash flowe) between €190 and €210 million.
