Opmobility · EURONEXT:OPM
Opmobility — Compagnie Plastic Omnium — H1 2015 Earnings Presentation
34 slides from Opmobility's earnings presentation, Jul 23, 2015
Slide 1: 2015 Interim Results
2015 Interim Results Levallois, July 23th, 2015
Slide 2: Contents
CONTENTS H1 2015 Highlights 2015 Interim Results Outlook
Slide 3: H1 2015 Highlights
H1 2015 Highlights DATE COMPAGNIE PLASTIC OMNIUM
Slide 4: H1 2015 Key metrics
Improvement in all metrics 4 H1 2015 Key metrics Economic Sales* : €2,945 m +11.8% Consolidated Sales * : €2,474 m +10.2% Operating Margin* : 9.6% of sales +18.5% EBITDA* : 14.0% of sales +15.1% Net Profit, group share : €142 m +30.9% Free Cash Flow : €107 m 4.3% of sales Net Debt : €354 m €-36 m *
Slide 5: H1 2015 auto production and PO sales by region
PO Auto Sales*: +3.5% H1 2015: 43.9 million of vehicles Auto Prod 5 2.2 points outperformance H1 2014: 43.4 million of vehicles +0.5 M Auto Production: +1.3% PO Sales PO Sales Asia (excl. China) PO Sales North America -6.5% Western Europe +6.7% and RoW +11.0% -1.9% +2.0% +4.3% 11.8 11.6 8.6 8.8 7.1
Slide 6: 64 Successful Launches during H1 2015
64 Successful Launches during H1 2015 6 North Am. Western Europe Eastern Europe 4 Launches 17 Launches 10 Launches o/w : o/w : o/w : Asia 31 Launches o/w : South Am. 2 Launches o/w : Half of the launches in Asia 13 launches in innovative products 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 7: 4 New plants launched in H1 2015
4 New plants launched in H1 2015 7 China, Wuhan Jiangxia China, Hangzhou China, Changsha SOP January 2015 SOP March 2015 SOP May 2015 Bumpers Bumpers Bumpers for SGM for CA-Ford for SVW, GAC-Fiat 2015 China, Beijing SOP March 2015 Front-end modules for BBAC 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 8: Operational performance driven by tight cost control and industrial excellence
Operational performance driven by tight cost control, 8 industrial excellence and high plant loading An industrial footprint of 115 Plants, all of them “state of the art” 70 new plants built since the year 2000 and 30 divested or closed EUROPE 56 Plants NORTH AMERICA ASIA 15 Plants 37 Plants SOU
Slide 9: 4 Quality Awards
4 Quality Awards 9 TOYOTA “Superior Quality Performance” Award Best quality (fuel systems) VOLKSWAGEN ”Global Champion” Award (exterior parts) PSA “Best Production Plant”: In terms of manufacturing excellence: Arevalo-Spain, Guichen-France (exterior parts) Guichen, France Arevalo, Sp
Slide 10: 2 Innovation Awards
2 Innovation Awards 10 TWO INNOVATION AWARDS RECEIVED FROM JEC COMPOSITES Thermosetting resin floor reinforced with fiberglass From 30 to 4 main components, weight reduction of 8 kg Developed with PSA Objective: SOP 2020 Front Impact Beam combining fiberglass and carbon fiber Weight re
Slide 11: New significant orders won - Automotive
New significant orders won - Automotive 11 GLOBAL AWARDS Mercedes CLA Daimler MFA2 platform: fuel systems in Europe, North America, China – SOP: 2018 1 new plant in Mexico in 2016 New Sprinter, Daimler New Sprinter : fuel systems in Europe, North & South America SOP: mid 2018 23 JULY 2015 CO
Slide 12: New significant orders won - Automotive
New significant orders won - Automotive 12 GLOBAL AWARDS XC 90, Volvo Volvo SPA platform, first vehicle new XC 90: Composite fender carriers in Europe, China SOP: from 2015 to 2017 Volvo-Geely CMA platform: Fuel System in Europe, China SOP: from 2017 to 2019 23 JULY 2015 COMPAGNIE PLASTIC
Slide 13: New significant orders won - Automotive
New significant orders won - Automotive 13 REGIONAL AWARDS Chevy Equinox, General Motors General Motors Bumpers for Chevy Equinox & GMC Terrain in Mexico, SOP: mid 2017 Daimler Bumpers & Exterior Trim for two new programs on MFA2 platform in Mexico, SOP: mid 2018 & 2019 1 new plant in Mexi
Slide 14: New significant orders won - Automotive
New significant orders won - Automotive 14 NEW PRODUCT LINES SCR-DINOx compact Renault Nissan SCR systems General Motors New SCR systems in US & Mexico 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 15: New significant orders won - Environment
New significant orders won - Environment 15 FRANCE On board management system in Paris Paris: 240 garbage trucks with on-board management system 6-year contract Bordeaux: 140,000 wheelie bins 4-year contract – supply & maintenance Orléans: 30,000 wheelie bins 3-year contract Underground cont
Slide 16: 2015 Interim results
2015 Interim results 1,075 robots in use worldwide at Plastic Omnium
Slide 17: H1 2015 Economic Sales by business
H1 2015 Economic Sales by business 17 ∆ ∆∆ at constant In €m H1 2014 % sales H1 2015 % sales in % perimeter & exchange rate Automotive 2,428.8 92% 2,753.0 93% +13.3% +3.5% Environment 206.8 8% 192.3 7% -7.0% -3.7% Economic Sales 2,635.6 100% 2,945.3 100% +11.8% +3.0% 23 JULY 2015 COMPAGNIE PLASTIC O
Slide 18: H1 2015 Economic Sales by region and customer
H1 2015 Economic Sales by region and customer 18 By region By customer 4% 3% South Am/ HMC: 5% Others Africa JLR-Tata: 5% 19% 31% 42%* Asian German 17% Western Europe Nissan: 3% Toyota: 2% Asia VW: 17% Volvo-Geely: 1% BMW: 9% Others: 3% Daimler: 4% Opel: 1% 20% French 27% North PSA: 12% America Rena
Slide 19: H1 2015 Profitability by division
H1 2015 Profitability by division 19 ∆ In €m H1 2014 % sales H1 2015 % sales in % Economic sales 2,635.6 2,945.3 +11.8% Consolidated sales 2,246.3 100% 2,474.3 100% +10.2% Automotive 2,048.6 91% 2,282.0 92% +11.4% Environment 197.7 9% 192.3 8% -2.7% EBITDA 301.4 13.4% 346.9 14.0% +15.1% Automotive 2
Slide 20: H1 2015 Profit & Loss account
H1 2015 Profit & Loss account 20 ∆ in €m H1 2014 H1 2015 in % Consolidated sales 2,246.3 2,474.3 +10.2% Operating margin 200.3 237.3 +18.5% In % of sales 8.9% 9.6% EBITDA 301.4 346.9 +15.1% In % of sales 13.4% 14.0% Other operating expenses -22.3 -24.3 Financial expenses -32.2 -26.5 In % of sales -1
Slide 21: H1 2015 Cash Flow statement
H1 2015 Cash Flow statement 21 in €m H1 2014 Year 2014 H1 2015 Sales 2,246 4,437 2,474 Net Debt (beginning of the period) -410 -410 -390 Net Operating Cash Flow 290 555 321 in % of sales 12.9% 12.5% 13.0% Taxes & Net Financial Interest paid -63 -129 -61 Capex and R&D capitalized -170 -326 -164 in %
Slide 22: H1 2015 Key Financial metrics
H1 2015 Key Financial metrics 22 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 23: Outlook
Outlook 23 JULY 2015
Slide 24: H2 2015 auto production outlook by region
H2 2015: 43.3 million of vehicles Auto Prod H2 Auto Production: +2.4% H2 2014: 42.3 million of vehicles +1 M 24 Asia (excl. China) North America Western Europe and RoW +4.1% +2.6% 8.8 +4.1 % 11.3 11.6 8.4 6.4 6.6 In million In million In million 0 0 0 H2 2014 H2 2015 H2 2014 H2 2015 H2 2014 H2 2015
Slide 25: 68 Automotive Program launches in H2 2015
68 Automotive Program launches in H2 2015 25 Western Europe Eastern Europe North Am. 15 Launches 9 Launches o/w : o/w : 9 Launches o/w : Asia 32 Launches o/w : South Am. 3 Launches o/w : Half of the launches in Asia 8 launches in innovative products 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 26: 3 New plants will be launched in H2 2015
3 New plants will be launched in H2 2015 26 USA, Chattanooga Bumpers for VW 2015 August September December Russia, St-Petersburg USA, Fairfax Fuel Systems Fuel Systems for Nissan, Ford & Toyota for GM 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 27: Mid-term outlook: Growth
Mid-term outlook: Growth 27 New capacities under construction UK, Mexico, Warrington San Luis Potosi Bumpers Bumpers for JLR for GM 2016 2017 China, India, Mexico Chongqing Gujarat Fuel Systems Fuel Systems Fuel Systems for HMC for Suzuki for Daimler 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 28: China Focus: Growth
China Focus: Growth 28 1st plant in 2007 25 plants in production in 2015 1 plant under construction o « State of the art » plants o Presence in the 7 clusters of production o Chinese footprint almost complete 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 29: China Focus: Growth
China Focus: Growth 29 Sharp increase in PO Market share in China 2014 2019 18% 26% Bumpers + + 8% 15% Fuel Systems 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 30: North America Focus: Growth
North America Focus: Growth 30 19 automotive plants in North America 4 new plants Strong outperformance vs North American production from 2016 & onwards 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 31: Strong Order Book in new product lines
Strong Order Book in new product lines 31 SCR systems SCR: from 0.3 M units in 2014 to 2.3 M in 2019 INWIN Hybrid car: 2 orders for pressurized fuel tanks TAILGATE Tailgates: 18 programs in production, 10 programs in development 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 32: Strong Order Book in SCR systems
Strong Order Book in SCR systems 32 PO SCR volumes will grow twice as the SCR Market : +€ 500 m in sales In €m 2014 2019 SCR equipped vehicle 1.7 7.1 x4 PO SCR volume 0.3 2.3 x8 PO SCR market share 18% 33% x2 SCR systems Orders or Development with 13 carmakers 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 33: Sales guidance raised: €7 Bn in 2017
Acceleration of the Growth rate 33 SALES GUIDANCE RAISED €7 Bn in economic sales in 2017, instead of 2018 95% Booked 23 JULY 2015 COMPAGNIE PLASTIC OMNIUM
Slide 34: Glossary
34 GLOSSARY 1) Economic sales corresponds to sales including the share from joint ventures in proportion to the Group's shareholding (BPO, HBPO and YFPO for Plastic Omnium Automotive). It reflects the Group's operational and managerial position. 2) In accordance with IFRS 10, 11 and 12, consolidated
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