Plastic Omnium : Better-than-expected H2 performance and robust outlook should reassure
>H2 beat at EBIT and FCF levels, outlook in line and impressive order book - Plastic Omnium published H2 2023 earnings above expectations with revenue broadly in line with expectations at € 5.0bn (+9% y-o-y) but adj. Ebit at €185m, i.e. 3.7% margin and a 9% beat vs consensus at € 172m and FCF more than twice as high as expected at € 37m vs consensus at € 16m. On a full-year basis, this enabled the supplier to exceed its revised targets at both EBIT (€ 395m vs € 370-39...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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