Plastic Omnium : A transparent reset to reflect the weaker environment
>Q3 sales in line but shares hit by the FY outlook cut - Plastic Omnium has reported Q3 2023 sales of € 2,389m, up 13% on a reported basis and 7% organic, broadly in line with the estimates for € 2,420m. That said, and in the face of a far more challenging environment at the end of the year (notably, production stoppages, inflation headwinds, strikes in North America), the auto supplier has cut its FY targets for EBIT (-12% vs the pre-release consensus at midpoint) an...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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