Plastic Omnium: H1-18 earnings: first take – the group is now a pure player on the sector
Plastic Omnium: (NEUTRAL, Fair Value EUR41 (+8%))H1-18 earnings: first take – the group is now a pure player on the sector
After announcing yesterday after market it has signed a put option with investors for the sale of its Environment division, Plastic Omnium published this morning solid H1-18 metrics, in line with expectations on sales and EBIT and 7% above expectations on net income due to lower negative exceptional items vs. last year. The group is now an automotive pure player with the planned disposal of POM Env. and the deal on HBPO.
Compagnie Plastic Omnium is a manufacturing and services company which partners with car manufacturers and local communities, through its two core businesses which are Automotive Equipment and Environment. Co.'s activities can be divided into two divisions: the Automotive division and the Environment division. The Automotive division designs, manufactures and sells vehicle body parts (exterior parts and modules) and plastic fuel systems. The Environment division provides products and services for local authorities, including waste pre-collection and management equipment and services, and road and highway signage.
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