2017 HALF-YEAR RESUL TS LEVALL LLOIS, IS, JULY Y 21 TH TH , , 2017
A strong semester 2 • Outperformance of the auto production: +10pts • Double digit increase of all P&L aggregates • Rationalization of the acquired exterior business on track • Continuous improvement of the industrial performance Portfolio optimization • • Liquidity increase with significant debt reduction and benchmark bond emission • Reinforcement and diversification of the orderbook CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Preparing the future 3 • € 2.5 billion self-financed investment program (2017-2021) • Ambitious 4.0 Industry program • Additional milestones in the innovation pathway CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017 Highlights
A significant outperformance of the automotive production 5 Auto o produc ucti tion on H1 2017: 45.8 .8 million of vehicles +2.8% 8% H1 2016: 44.6 .6 million of vehicles Outper perfor ormance ance: +1 +10p 0pts Plas asti tic c Omnium ium Auto o sales es +12 12.6% .6% at constant perimeter and exchange rates CONFIDENTIAL Source: IHS July 2017 COMPAGNIE PLASTIC OMNIUM
H1 2017 Results: double digit growth in all P&L aggregates 6 Ec Economi nomic sales : : € 4,06 ,062m 2m +28% +28% Conso nsolidat idated sales es : : € 3,4 3,455m 55m +30% 30% Opera rati ting ng margin in : € 325m 5m +22% 22% % of sales 9.4% EB EBITDA : € 469m 69m +22% 22% 13 13.6% 6% of sales Net et profit it, , group share re : : € 210m 0m +35% 35% Free ee Cash Flow : € 101m 1m +10% 0% Net et debt ebt : € 622m 2m - € 178m 8m CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Integration of the exterior business acquired in 2016 7 Already achieved Merge of the 2 organizations completed Program portfolio restructuring o Rationalization to be continued in H2 3 plant closures in the Americas: (2 USA, 1 Brazil) o € 200m investment program (2017-2021) 2 paint line closures in Germany o Industrial turnaround confirmed Headcount reduction: - 800 people as per June 30 Consolidation of the € 1bn sales of business acquired: Mercedes Class S and Audi A6 renewals CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Business disposals 8 Following European Commission decision Non strategic assets disposal • As part of the takeover of exterior • Truck composites business with sales business acquired in July 2016 of € 200m and 1,500 people • Sale of 7 European sites • 9 production sites (4 in France, 2 in Germany, 1 in Spain) (France: 5 ; Germany: 1, Mexico: 1, China: 2) Effective March 31, 2017 Effective June 30, 2017 • • • Enterprise value: € 200m • Accretive impact on Group’s profitability CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
New capacities to seize the growth 9 1 plant acquired 2 new plants invested May 2017 SOP April il 2017 SOP 2018 Acquisition isition of 50% % of a JV with th a loc ocal al partner er China , Mexico , China , Chongqing San Luis Potosi Changchun Fuel l systems ems Bump mper ers Bumper mpers CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Well-balanced local footprint 10 NORTH AMERICA EUROPE & ASIA 19 Plants USA 7 AFRICA Mexico 11 39 Plants 60 Plants Canada 1 Of which Western Europe 43 China 26 Eastern Europe 15 South Korea 6 Africa 2 India 3 Japan 1 SOUTH AMERICA 6 Plants 124 plants in 31 countries Argentina 3 Brazil 3 74 auto customers (20 Chinese) As of June 30, 2017 CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Reinforcement and diversification of the orderbook 11 New clients o Increased penetration with Exterior parts newcomers in EV 3 pure EV customers in total Exterior parts Increased penetration with pure Chinese OEMs 20 Chinese customers in total Fuel systems Benefiting from the strong Fuel systems relationship with JLR in the bumper business CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Reinforcement and diversification of the orderbook 12 New plants for new contracts o Kenitra (Morocco) : New contract for PSA’s new plant SOP 2019. Full year sales : € 50m Hlolovec (Slovakia): New contract for JLR’s Nitra new plant SOP 2019. Full year sales : € 170m CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Reinforcement and diversification of the orderbook 13 New product lines o • Tailgates : • 5 additional OEMs in the portfolio : American OEM, SGM, Dongfeng, Lucid, Next EV • 14 programs in development, 50% in China • 35 programs in production in 2020 • Pressurized tanks for EV ( Plug in Hybrid ) • Another Hyundai PHEV in China • 2 programs already in production in Korea and China CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
What about SCR ? 14 • Plastic Omnium will outperform the SCR market growth • Market shares gain : • 6 OEMs in the portfolio in 2017 16% worldwide market share • 16 OEMs in the portfolio in 2021 24% worldwide market share ˜ • Est. 2017 € 400m in sales, +30% vs 2016 ˜ • Est. 2021 € 600m in sales CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Burelle SA’s control strenghtened 15 Plastic Omnium capital structure • H1 2017 Shares Buy-back : 1.38m of shares for € 46.5m • Share capital reduction of € 1.5m of shares (1% of share capital) on August 14, 2017 As of August 14, 2017 As of June 30, 2017 Free Float Burelle SA Free Float Burelle SA 38.59% 57.01% 38.91% 57.57% Employees Employees 1.00% 1.02% Treasury shares Treasury shares 3.4% 2.5% CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
2017 Half-Y ear Results
H1 2017 sales by business 17 ∆ at consta tant ∆ In € m In H1 2016 H1 2017 % sales les % sales les perimet imeter er & in % exchan hange rate rate Automotive 2,992.8 94% 3,894.2 96% +30.1% +12.6% .6% Environment 186.7 6% 168.0 4% -10.0% .0% +7.4% Economic onomic sales les 3,179.5 100% 4,062.2 100% +27.8% +12.3% Conso solida lidated ed sales les 2,660.0 100% 3,454.9 100% +29.9% +11.3% CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017: 70 successful launches 18 North/South America Europe Asia 14 25 31 launches launches launches CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017 performance per region vs auto production 19 ASIA (excl. CHINA) NORTH AMERICA EUROPE & AFRICA Auto o prod oduction uction -1.0% Auto o prod oduction uction +2.0% Auto o prod oduction uction +4.2% 2.4 PO sales es * +22.5% PO sales es * +3.5% PO sales es * +15.8% 1.4 Outper performan ormance +23.5p .5pt Outper performan ormance +1.5pt Outper performan ormance +11.6p .6pt SOUTH AMERICA CHINA Auto o prod oduction uction +3.6% Auto o prod oduction uction +17.6% PO sales es * +26.7% PO sales es * +32.6% Outper performan ormance +23.1pt Outper performan ormance +15.0 .0pt * Plastic Omnium economic automotive sales at constant exchange rate CONFIDENTIAL Source: IHS July 2017 COMPAGNIE PLASTIC OMNIUM
H1 2017 economic sales per region 20 8% 8% China na Asia a (excluding uding China na) 3% South th Ameri rica 55% Europe pe & Afri rica 26% North America CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017 Auto economic sales by customer 21 3% 36% 16% Others German an French nch VW: 11% PSA: 10% BMW: 8% Renault: 6% Daimler: 5% Audi: 5% Porsche: 2% Opel: 2% Seat: 2% 18% Skoda: 1% Asian an 27% JLR-Tata: 6% HMC: 4% Nissan: 2% Amer eric ican an Toyota: 2% GM: 12% Volvo-Geely: 1% Ford: 10% Suzuki-Maruti : 1% FCA: 5% Others: 2% CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017 Profitability by division 22 ∆ In € m H1 2016 % s sale les H1 2017 % s sale les in % Conso solida lidated ed sales les 2,660.0 100% 3,454.9 100% +29.9% Automotive 2,473.4 93% 3,286.9 95% +32.9% Environment 186.7 7% 168.0 5% -10.0% EBITD ITDA 383.3 14.4% 468.6 13.6% +22.2% Automotive 363.8 14.7% 452.1 13.8% +24.3% Environment 19.5 10.5% 16.5 9.8% -15.4% Oper eratin ating Margin 267.4 10.1% 325.0 9.4% +21.5% Automotive 255.3 10.3% 314.3 9.6% +23.1% Environment 12.1 6.5% 10.6 6.3% -12.4% CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
Focus on operating margin 23 31 July 2016 Acquisition of Faurecia (in € m and % of consolidated sales) Auto Exterior Business 325 297 9.4% 285 300 267 9.0% 8.9% 10.1% 9.1% 200 H1 2 2016 p published H1 2 2016 p proforma H2 2 2016 p pro roform rma H1 2 2017 CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
H1 2017 Profit & Loss account 24 In n € m H1 2016 H1 2017 ∆ in % Conso solida lidated ed sales les 2,660.0 3,454.9 +29.9% Oper eratin ating margin 267.4 325.0 +21.5% In % of sales 10.1% 9.4% Other operating expenses -33.2 -23.5 Financial expenses -31.4 -31.8 In % of sales -1.2% -0.9% Income Tax -44.3 -56.6 Net et Resul sult 158.4 213.0 +34.5% In % of sales 6.0% 6.2% Net et Resul sult - Grou oup Shar are 155.3 210.3 +35.4% In % of sales 5.8% 6.0% CONFIDENTIAL COMPAGNIE PLASTIC OMNIUM
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