REGULATED PRESS RELEASE

from OPMobility (EPA:OPM)

Présentation des Résultats annuels 2023 (EN)

image

image

image
Executive summary

2023 in-line with our operational strategic priorities

imageHistorical businessesConsolidating from strength to strength the ambition in Hydrogen and accelerating industrial development

imageSignificant improvement Additional initiatives in first year of Lighting to carbon neutrality roadmap


image
Executive summary

For the first time, revenue exceeds €10bn

image
Up +38% since 2018, of which 2/3 is organic growth…

…while automotive production is down -4%

11.4

Outperforming the market by +3.7pts

image

image


Strong growth outperforming the market mainly

driven by IES and

imageModules Performance in-line           Market growth mainly Excellent performance with the market          driven by EV vehicles vs. market production despite the headwind and local players.         mostly driven of the UAW strike     JV YFPO in-line             by South Korea

                                                    with market;                   and India


Modules and CES underperformed


image

image
Plastic Omnium well-positioned to address market evolution

Automotive production market *

Plastic Omnium product portfolio


image
Robust order intake reflecting customers’ trust

Strengthening our geographical footprint and powertrain diversification

image
Diversifying our customer base

In-line with market evolution

2023

Next steps


image
164 flawless launches in 2023 across all divisions

Evolution of segment information

image
Aligned with the strategic roadmap and the product portfolio

            2022                       2023

Unique offer of fully integrated exterior solutions

image
Increase our content per vehicle through cross-divisions synergies

imagePlastic Omnium is offering a unique technological offer:

fully integrated exterior systems through the combination of

Intelligent Exterior Systems, Lighting andModules

First awards

Next steps

image
Success of the first year for Lighting

Strong order intake and significant reduction in cost base

image
Next steps for Lighting

Key priorities to improve growth and profitability

Operational priorities

2024-2025

Medium-term outlook

2026 and beyond


image
Moving forward with priorities for Modules

Improving profitability through operational excellence

image
Complete range of energy management systems

For all types of powertrains: ICE, hybrid, battery and hydrogen electric vehicles

image
Clean Energy Systems strongly consolidates its leadership and develops electrification

image
Our strengths in Hydrogen mobility

Hydrogen capacities ramping up

image
Next launches of activity

image

                       SOUTH KOREA                             FRANCE                            CHINA


image

image
Strong economic revenue growth of +20.3%

image
Material improvement in quality of operating margin

Significant impact of Lighting turnaround whilst pursuing ramp-up in New Energies

2022

2023


Operating margin at 3.8%

image
As per new operating segments

EXTERIOR SYSTEMS

OPERATING MARGIN RATE

Stable net result Group share at 163m

In a context of high interest rates

In €m                                 FY 2022       FY 2023

Operating margin

364

395

In % of revenue

4.3%

3.8%

Other operating expenses

-64

-64

Financial result

-62

-105

Income tax

-60

-63

Net result Group share

168

163

In % of revenue

2.0%

1.6%

imageimageOPERATING MARGIN

image
image

• Increase in operating margin partially offsetting the rise in financial expenses in an environment of high interest rates

NON-RECURRING ITEMS

• Amounted to - €64m, stable against 2022, including restructuring and currency effects

FINANCIAL RESULT

•     Impacted by the increase in interest rates

•     Financial costs representing 1% of total revenue

image
Solid Free Cash Flow generation and debt reduction

Improvement in working capital and carefully monitored CAPEX

image
Continued debt reduction while pursuing growth

Solid financial structure


image

image
Our commitment to carbon neutrality

Continued to roll out its plan to achieve its objectives

image
2023 milestones achieved in carbon neutrality

Strong improvement in ESG ratings

image
Demonstrating the Group's growing awareness of climate issues

                                                         2022                   2023

                   image                     A-

A

Highest score recognizing our ambitious roadmap and carbon neutrality objectives

                    image                   80/100

80/100

Platinum status and among top 1% of companies assessed

              image                   C

C+

Among leaders in its industry

               image                    A

A

Leads most industry peers on significant ESG risks and opportunities

image
On track to meet our sustainability targets


image

image
Continuous return to shareholder

A solid track record of dividend distribution

Shareholders’ proposed dividend*

Historic evolution of dividend per share


image
Outlook

image
Conclusion

Group’s strategy remaining a key pillar for its long-term growth


image

image

image


image
Revenue per business

In €m                                                            2022                   2023                Change            LFL* change

Exterior Systems

4,210

5,579

+32.5%

+16.6%

Modules

2,580

3,112

+20.6%

+18.2%

Powertrain

2,687

2,707

+0.8%

+3.7%

Economic Revenue

9,477

11,399

+20.3%

+13.4%

Joint Ventures

939

1,084

+15.5%

+13.1%

Exterior Systems

3,507

4,860

+38.6%

+17.3%

Modules

2,347

2,751

+17.2%

+18.6%

Powertrain

2,684

2,703

+0.7%

+3.6%

Consolidated Revenue

8,538

10,314

+20.8%

+13.4%

image
Cash flow statement

In €m                                                                                          2022                               2023

Operating margin                                                                                             364

395

EBITDA

864

900

Gross Cash Flow

666

649

In % of revenue

7.8%

6.3%

Capex and development

-351

-482

In  % of revenue

                    -4.1%

-4.7%

Change in WCR

-72

+61

Free Cash Flow

243

227

Dividends

-52

-60

Treasury shares

-16

3

IFRS 16

-40

-91

Acquisition impacts & others

-950

55

Net debt (end of the period)

1,669

1,540

Disclaimer

The information contained in this document (the “Information”) has been prepared by Compagnie Plastic Omnium SE (the “Company”) solely for informational purposes. The Information is proprietary to the Company. This presentation and its contents may not be reproduced or distributed or published, directly or indirectly, in whole or in part, to any other person for any purpose without the prior written permission of the Company.

The Information is not intended to and does not constitute an offer or invitation to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. Nor does it constitute an endorsement or advice regarding investment in any security and is nowise to be interpreted as an offer to provide, or solicitation with respect to, any securities-related services of the Company. This presentation consists of information provided in summary form and does not purport to be complete. This communication is neither a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended from time to time and implemented in each member state of the European Economic Area and in accordance with French laws and regulations.

This presentation contains certain projections and forward-looking statements. These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union. These forward-looking statements have also been developed from scenarios based on a number of economic assumptions in the context of a given competitive and regulatory environment. The Company believes these statements to be based on reasonable assumptions. These forward-looking statements are subject to various risks and uncertainties, including matters not yet known to the Company or its management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives setout will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, the geopolitical environment (including the ongoing Russo-Ukrainian military conflict), overall trends in general economic activity and in the Company’s markets in particular, regulatory and prudential changes, and the success of the Company’s strategic, operating and financial initiatives.

Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, opinion, projection, forecast or estimate set forth herein. Investors are advised to take into account factors of uncertainty and risk likely to impact the operations of the Group when considering the information contained in such forward-looking statements. Persons receiving this document should not place undue reliance on forward-looking statements. To the maximum extent permitted by law, none of the Company or any of its affiliates, directors, officers, advisors and employees shall bear any liability (in negligence or otherwise) for any direct or indirect loss or damage which may be suffered by any recipient through use or reliance on anything contained in or omitted from this document and the related presentation or any other information or material arising from any use of these presentation materials or their contents or otherwise arising in connection with these materials.

imageBy receiving this document and/or attending the presentation, you will be deemed to have represented, warranted and undertaken to have read and understood the above notice and to comply with its contents.


image

See all OPMobility news