Slide 1: 2014 Annual Results
2014 Annual Results February 25th, 2015
Slide 2: IFRS 10, 11, 12
IFRS 10, 11, 12 In order to give the accurate picture of the Group's business and operational position, the 2014 financial statements were prepared using the same accounting methods as the 2013 audited consolidated financial statements. These financial statements, which have been reviewed by the sta
Slide 3: Contents
CONTENTS 2014 Highlights 2014 Results Outlook
Slide 4: 2014 Highlights
2014 Highlights & p fi Bo ; a)
Slide 5: 2014 Key metrics
Improvement in all metrics 5 2014 Key metrics Sales : €5,314 m +3.7% Operating Margin : 8.1% of sales +9.4% EBITDA : 12.2% of sales +8.9% Net Profit, group share : €220 m +14.1% Recurring Free Cash Flow : €143 m 2.7% of sales Net Debt : €330 m € -25m 25 FEBRUARY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 6: Outperformance maintained
Outperformance maintained 6 2014 : 85.6 million of vehicles 2014 Auto Production : +2.8 M (+3.3%), PO Auto Sales +6.1%* 2013 : 82.8 million of vehicles PO Sales PO Sales Asia (excl. China) PO Sales North America +2.0% Western Europe +7.8% and RoW +3.3% + 0.9 % + 5.0 % + 5.2 % 22.9 23.1 17.0 16.2 12.
Slide 7: 102 successful launches during the year
102 successful launches during the year 7 North Am. Western Europe Eastern Europe 12 Launches 21 Launches 7 Launches o/w : o/w : o/w : Asia 58 Launches o/w : South Am. 4 Launches o/w : 25 FEBRUARY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 8: Operational performance driven by high loading and tight cost control
Operational performance driven by high loading 8 and tight cost control OPERATING MARGIN + 9.4 % 400 431.8 395 In €m and in % of sales 300 335 8.1% 7.7% 200 7.0% 100 0 2012 2013 2014 PRODUCTION & OVERHEAD COSTS PLANT LOADING % 25.0% 24.6% 80% 83% 24.0% In % of sales 56% 2012 2013 2014 2009 2013 2014
Slide 9: Sound financial position reinforced
Sound financial position reinforced 9 CAPEX AND CAPITALIZED R&D FREE CASH FLOW 400 338 350 200 6.6% 6.6% 168 260 300 3.5% 5.4% 112 In €m and in % of sales In €m and in % of sales 200 100 96* 2.2% 1.8% 100 26 47 0 0 2012 2013 2014 2012 2013 2014 Non recurring Capex (ie Gerland real estate) *Recurring
Slide 10: 2014 Results
2014 Results
Slide 11: 2014 Full Year Sales by business
2014 Full Year Sales by business 11 ∆ ∆ In €m 2013 2014 at constant in % exchange rate Automotive 4,655.2 4,882.4 +4.9% +6.1% In % of sales 91% 92% Environment 469.3 431.7 -8.0% -8.1% In % of sales 9% 8% Sales 5,124.5 5,314.1 +3.7% +4.8% 25 FEBRUARY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 12: Well diversified region and customer portfolio
Well diversified region and customer portfolio 12 By region By customer 4% South Am/ 4% Africa HMC 5% Others 30% JLR-Tata 5% 18% 33% German 17% Western Europe Nissan 2.5% Asian Asia (excl. France) Toyota 2% Volvo-Geely 1.5% VW 16% Other 2% BMW 10% Daimler 4.5% Opel 2.5% 26% 20% French North America
Slide 13: 2014 Profitability by Division
2014 Profitability by Division 13 ∆ In €m 2013 % sales 2014 % sales in % Sales 5,124.5 100% 5,314.1 100% +3.7% Automotive 4,655.2 91% 4,882.4 92% +4.9% Environment 469.3 9% 431.7 8% -8.0% EBITDA 596.1 11.6% 649.1 12.2% +8.9% Automotive 552.0 11.9% 603.0 12.4% +9.2% Environment 44.1 9.4% 46.1 10.7% +
Slide 14: 2014 Profit & Loss account
2014 Profit & Loss account 14 ∆ in €m 2013 2014 in % Sales 5,124.5 5,314.1 +3.7% Operating Margin 394.6 431.8 +9.4% In % of sales 7.7% 8.1% Other operating income (expenses), PPA, Associates,… -59.7 -58.3 Financial expenses -57.7 -62.2 In % of sales -1.1% -1.2% Income Tax -69.2 -73.9 Net Result 208.
Slide 15: 2014 Cash Flow statement
2014 Cash Flow statement 15 in €m 2013 2014 Sales 5,125 5,314 Net Debt (beginning of the period) -390 -355 Net Operating Cash Flow 537 607 in % of sales 10.5% 11.4% Taxes & Net Financial Interest paid -115 -140 Capex and R&D capitalized* -338 -350 in % of sales -6.6% -6.6% Change in WCR 28 -21 Free
Slide 16: Key Financial metrics
2014 Key Financial metrics 16 €m EBITDA Net Debt in points Net Debt/ EBITDA 700 €m 1,0 600 400 0,8 500 400 360 0,6 300 596 649 505 390 0,4 0.8 200 320 355 0.6 0.5 100 330 0,2 0 280 0,0 2012 2013 2014 2012 2013 2014 2012 2013 2014 €m 1200 Shareholders’ Equity in % 50% Gearing In % ROCE 1000 40% 30% 8
Slide 17: Outlook
Outlook
Slide 18: Market growth in 2015
Market growth in 2015 18 2015 : 87.6 million of vehicles 2015 Auto Production : + 2.0 M (+ 2.4%) 2014 : 85.6 million of vehicles North America Western Europe Asia (excl. China) and RoW +2.7% +0.4% +1.6% 23.1 23.2 17.0 17.4 13.3 13.5 In million In million In million 0 0 0 2014 2015 2014 2015 2014 201
Slide 19: 6 Plants will be launched in 2015
6 Plants will be launched in 2015 : China (3), Europe (1), NA (2) 19 USA, Chattanooga SOP mid 2015 Bumpers China, Wuhan Jiangxia for VW SOP early 2015 UK, Warrington SOP mid 2016 China, Changsha SOP mid 2015 Bumpers for SGM Bumpers for Bumpers for JLR SVW, GAC-Fiat 2015 2016 2017 Front-end modules F
Slide 20: Key launches in 2015 in total
Key launches in 2015 133 in total 20 Malibu XC60 Qashqai Xtrail Passat Espace 19 51 Prado 58 Haoqing A4 Q7 F 650/750 308 5 HR-V 3 Series Hilux/Fortuner 25 FEBRUARY 2015 ATS COMPAGNIE PLASTIC OMNIUM
Slide 21: Innovative products are ramping up
Innovative products are ramping up 21 Full-TP Tailgate €1 bn of sales in 2018 with new product lines is confirmed 15% of sales Fuel Systems for Hybrid vehicles >8% 7% of sales 5.5% of sales of sales 2013 2014 2015 … 2018 SCR systems 25 FEBRUARY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 22: 2015: Another increase in sales & results
Outlook 22 2015 : ANOTHER INCREASE IN SALES & RESULTS o A new step up in globalisation o 3 plants in China o 2 in North America o 1 in Russia o A ramp up phase in innovation o 5 tailgates & floor to be launched o 7 SCR & 6 TSBM systems to be launched o 2 high-pressure tanks for hybrid vehicles in de
Slide 23: Stock market information
Stock market information 23 Share Price 30,00 +12% in 2014 25,00 +162% in 2013 20,00 15,00 +44% in 2012 10,00 5,00 0,00 01/01/2012 01/01/2013 01/01/2014 01/01/2015 Dividend per share and Payout (%) 0.37 Shareholders’ meeting on April 30, 2015 0.33 In € and in% of eps 0.25 25% Proposed dividend of
Slide 24: Appendices
APPENDICES 2014 IFRS reconciliation
Slide 25: 2014 Profit & Loss account (IFRS reconciliation)
2014 Profit & Loss account (IFRS reconciliation) 25 Management Bridge IFRS Management Bridge IFRS en M€ 2013 2013 2014 2014 Sales 5 124,5 789,4 4 335,2 5 314,1 876,9 4 437,2 Operating Margin 394,6 56,1 338,6 431,8 60,3 371,6 % of sales 7,7% 7,1% 7,8% 8,1% 6,9% 8,4% EBITDA 596,1 74,9 521,2 649,1 78,7