French automotive components molder Plastic Omnium has announced its full year financial results for 2015, saying the company had a record year with sales up 13 percent on 2014 at €5.01 billion ($5.52 million).
Its EBITDA also increased by 13 percent between 2014 and 2015 to reach €691 million ($761 million).
"The year 2015 was a record year," said Laurent Burelle, chairman and CEO of Plastic Omnium. "All of our financial aggregates posted double-digit growth to reach historic highs. Revenue, operating margin and net income all nearly doubled in 5 years. The financial position of the Group improved even more. This performance is evidence of our ability to seize growth opportunities, while improving the profitability of our operations.
“The year was also marked by strong commercial activity, as evidenced by the unprecedented number of orders, reinforcing our leading position in our businesses, validating our technologies, and thus giving us a clear view of future growth. In addition, the large-scale project of external growth, with the acquisition of Faurecia's exterior systems business, will broaden Plastic Omnium's business. It will enable us to better serve our clients throughout the world, by reinforcing our product offering and our technological potential,” the CEO said.
The company highlights that 2015 saw its business in Europe grow by 12.4 percent, benefiting from 51 new programs launched during the year. Particular growth areas in this region were France from Renault Espace, the U.K. from Jaguar XJ and XE and Germany from the Audi SCR.
Plastic Omnium says 2015 confirmed North America as the main growth region for the company going forward. The region saw two new Volkswagen and General Motors plants come into operation in the USA in the second half of the year.
Meanwhile the company’s business in Asia grew by 5.4 percent driven by China, South Korea, Japan and India. Automotive sales in China reached €491 million ($541 million) in 2015, 8 percent of the Group's total sales.
In 2016, the company will put three new plants, one in the United Kingdom and two in Mexico, into operation. The company will start building three new plants, one in each in Mexico, China and India, to come into operation in 2017 and 2018.
Source : plasticsnews.com