Plastic Omnium, the French-based moulder of automotive components, body modules and fuel tanks, has reported its financial results for 2012.Revenue has increased 14% year-on-year to €4.8bn. Net profit increased by 6% to €181 million (3.8% of revenue) after accounting for €42m in impairment losses and restructuring costs.
Automotive made up €4.34bn (89.6%) of total revenue, an increase of 16.7% as reported and 9.3% like-for-like. By comparison, worldwide automobile production increased by 6.6%.Anticipating that sales will remain weak in Europe, the company announced in late 2012 that it would reduce its European production base by closing its Eisenach plant in Germany, introducing a “competitiveness plan” at the Saint-Déserat facility in France and bringing together its fuel system research and development activities at its centre in Compiègne, France.
Plastic Omnium expects worldwide automobile production to rise by 1-2% in 2013 to 81 million vehicles. In 2013, growth in the automotive business will be driven by the launch of around 100 new programmes. The company will step up its investment programme (€1.2bn from 2013 to 2016) to meet growing demand and strengthen its market share around the world.