Plastic Omnium : Execution still best-in-class...on the eve of major moves?
>Outperform rating maintained despite M&A “risk” - Despite a challenging environment in H1 and particularly in Q2, the auto supplier surprised on the upside with better than expected results and FCF which attest to the benefits of the measures put in place, both short term and structurally. This solid momentum is also set to continue despite the understandable caution shown on the environment in H2, as evidenced by the full-year guidance upgrade (~5% consensus upgrade...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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