Opmobility · EURONEXT:OPM
Opmobility — Plastic Omnium — H1 2023 Earnings Presentation
32 slides from Opmobility's earnings presentation, Jul 24, 2023
Slide 1: Plastic Omnium H1 2023 Results
Op PLASTIC OMNIUM H1 2023 RESULTS " July 24,2023 - T= Laurent FAVRE CHIEF EXECUTIVE OFFICER Félicie BURELLE MANAGING DIRECTOR Kathleen WANTZ-0’ROURKE CHIEF FINANCIAL OFFICER
Slide 2: Revenue up 35% YoY, on track with ambition
REVENUE UP +35% YoY UP +17% YoY ON TRACK WITH GROUP’S AMBITION H1 ORDER BOOK WELL ABOVE ONE YEAR OF REVENUE
Slide 3: Executive summary
Executive summary Plastic Omnium well on track to meet its objectives a ECONOMIC REVENUE Continued strong commercial momentum €5 815m in H1 2023 +20.2% LFL +8.9pts vs. H1 2022 vs. automotive production* OPERATING MARGIN Operational excellence in inflationary context €210m in H1 2023 +16.9% 4.0% vs.
Slide 4: Strong organic growth momentum
Strong organic growth momentum Outperforming the market in all regions RECOVERY OF THE WORLDWIDE AUTOMOTIVE SIGNIFICANT ORGANIC GROWTH IN ALL REGIONS PRODUCTION IN H1 2023* — ; a> In millions of vehicles +5.1% Es ® 83.7 EUROPE NORTH CHINA ASIA 79.7 AMERICA (EXCL. CHINA) % OF PLASTIC OMNIUM ECONOMIC
Slide 5: Financials
FINANCIALS Kathleen WANTZ-0’ROURKE CHIEF FINANCIAL OFFICER
Slide 6: Growth acceleration in H1 2023
Growth acceleration in H1 2023 Driven by all businesses In €m H1 2022 H1 2023 Change LFL’ change Plastic Omnium Industries 3,119 4,208 +34.9% +16.7% Plastic Omnium Modules 1,198 1,606 +34,0% +29.0% Economic revenue 4,318 5,815 +34.7% +20.2% Joint Ventures 397 521 +31.3% +22.5% Plastic Omnium Industr
Slide 7: Strong revenue growth
Strong revenue growth +34.7% reported growth of which +20.2% is organic In €m | +20.2% +20.2% LFL* organic growth d 5,815 excluding acquisitions & FX Acquisitions 11.8% of economic revenue x Industries Perormance *8? +349, (+16.7% LFL*) H1 2022 Organic growth H1 2023 Acquisitions H1 2023 Economic re
Slide 8: Significant increase in operating margin
Significant increase in operating margin Historical businesses driving up the Group’s operating margin In €m +16.9% Mitigating inflation +28.2% growth impact thanks to | +€30m op. margin net rigorous action plan 230 -20 inflation and acquisitions implementation |_| 210 2 = age Op. margin at 4.9% exc
Slide 9: Solid net result Group share at €100m
Solid net result Group share at €100m A reliable differentiating factor in the industry Operating margin 179 210 Net result, Group share In % of conso. revenue 4.6% 4.0% Other operating expenses -17 -19 €100m at 1.9% In % of conso. revenue -0.4% -0.4% stable YoY of revenue Financial expenses -24 -49
Slide 10: Robust Free Cash-Flow generation
Robust Free Cash-Flow generation Impact of acquisitions partially offset by healthy cash-flow generation Free Cash-Flow In €m 17 -~ — ~~ ay - - - - \ l Il 1608 | €191m +43.1% 1 I I | en — 1530 €137m FCF excl. real estate growth I 205 | I disposals FCF representing 3.6% 1 ! of revenue l Il I Il I I P
Slide 11: Well-managed debt reduction while pursuing growth
Well-managed debt reduction while pursuing growth Robust financial structure with a visible reduction in leverage / Net debt 1,669 / Net debt/EBITDA In €m 1,530 1.9x 1.7x ' 1.2x ! 30 June tl 31 Dec. 2022 30 June 2023 30 June 2022 31 Dec. 2022 30 June 2023 / Liquidity as of June 30, 2023 In €bn 2.3 2
Slide 12: Highlights
HIGHLIGHTS Laurent FAVRE CHIEF EXECUTING OFFICER Félicie BURELLE MANAGING DIRECTOR
Slide 13: Major launches contributing to H1 2023 performance
Major launches contributing to H1 2023 performance Commercial successes delivering profitable growth GM - Chevrolet Blazer EV Front & rear bumpers Stellantis - Jeep Compass Front end modules NIO - ES6 Bumpers & tailgates ICE BMW - X5, X6, X7 (Facelift) Front & rear bumpers, rocker panels & wheel arc
Slide 14: Strengthening geographical & powertrain diversification
% Order book % Order book / for ZEV in Americas & Asia Strengthening our geographical & powertrain diversification
Slide 15: Significant H1 2023 order intake
Significant H1 2023 order intake ensuring strong future growth Commercial successes in all activities, regions and types of powertrain Zzv 6 e@ Shh SF . : Major US EV Player Gaussin - APM H, Malor US Player aie ~ SONG Plus Front end modules, cockpit Fuel cell systems 2 Storage systems jumpers module
Slide 16: Historical activities ensuring profitability and cash generation
H istorical activities ensuring profitability and cash generation Strengthening the leadership of Plastic Omnium INTELLIGENT EXTERIOR SYSTEMS CLEAN ENERGY SYSTEMS | = Mobules +) BOOST THE ORDER BOOK FOR THE COMING YEARS IE PLASTIC OMNIUM’S RELEVANT OFFER AND CUSTOMERS’ TRUST / Balance geographies an
Slide 17: Confirmation of robust momentum for Lighting
Confirmation of robust momentum for Lighting Significant improvement in profitability OPERATIONAL EFFICIENCY CUSTOMER RELATIONSHIP Evolution since beginning of 2023 COMPLETELY 5 0 o i) = Scrap Inventories Operations Plant Costs” Escalations Lighting reached break-even for a first time Strong order i
Slide 18: Solid order intake supports Hydrogen objectives
Solid order intake supports the Group’s Hydrogen objectives Diversified customer portfolio targeting heavy and commercial vehicles Passenger Heavy and / Cumulated order book on track to deliver our target of €3.0bn revenue in 2030 vehicles Commercial vehicles ~1% ~99% eee ly 3 Major US OEM €2.5bn >
Slide 19: Materializing progress towards carbon neutrality
Materializing progress towards carbon neutrality On track to fulfill 2025 objectives SCOPES 1 & 2: In a context of a sharp rise in production volumes, neutral in 2025** the Group succeeds in improving: Plastic Omnium's objectives approved by and aligned with GJ > Energy efficiency” by +4% A) SCIENCE
Slide 20: Increasing production of renewable energy on Group's sites
Increasing production of renewable energy on Group's sites Contributing to the Group’s CO, emissions reduction / Sites producing renewable energy End 2022 End June 2023 End 2023 / Plastic Omnium is strengthening its responsible purchasing policy: Sharing the Group’s carbon neutrality roadmap and bes
Slide 21: Perspectives & Conclusion
PERSPECTIVES & CONCLUSION Laurent FAVRE CHIEF EXECUTIVE OFFICER
Slide 22: H2 2023: a challenging and stimulating context
H2 2023: a challenging and stimulating context Slight decrease in automotive production with inflationary backdrop / S&P Global Mobility forecasts a slight decrease of -0.4%* in automotive production in H2 2023 vs. H2 2022 Worldwide automotive production estimates* In millions of vehicles -0.4% iy 4
Slide 23: Plastic Omnium confirms its 2023 & 2025 objectives
Plastic Omnium confirms its 2023 & 2025 objectives G OBJECTIVES 2023 STRONG GROWTH in revenue and OUTPERFORMANCE vs. market* >€400m Operating margin (>+10% vs, 2022) >€260m Free Cash-Flow * Based on S&P Global Mobility automotive production of 82.1m vehicles published in February 2023 - [0;3.5t PC +
Slide 24: Conclusion
Conclusion Solid leadership driving future growth Solid H1 2023 results on track to meet full-year guidance Strong increase in revenue mainly driven by organic growth Historical activities ensuring cash-flow generation to finance future growth Deleveraging strategy already in execution Significant o
Slide 25: Laurent Favre, Félicie Burelle, Kathleen Wantz-O'Rourke
Laurent FAVRE Félicie BURELLE Kathleen WANTZ-0’ROURKE CHIEF EXECUTIVE OFFICER MANAGING DIRECTOR CHIEF FINANCIAL OFFICER 2023 HALF-YEAR RESULTS.
Slide 26: Disclaimer
Disclaimer The information contained in this document (the “Information”) has been prepared by Compagnie Plastic Omnium SE (the “Company” solely for informational purposes. The Information is proprietary to the Company. This presentation and its contents may not be reproduced or distributed or publi
Slide 27: Plastic Omnium
PLASTIC OMNIUM www.plasticomnium.com
Slide 28: Appendices
APPENDICES
Slide 29: Q1 & Q2 2023 Revenue per business line
Q1 & Q2 2023 Revenue per business line Q1 2022 Q2 2022 H1 2022 Q1 2023 Q2 2023 H1 2023 Plastic Omnium Industries 1,530 1,589 3,119 2,015 2,193 4,208 Plastic Omnium Modules 568 630 1,198 807 799 1,606 Economic revenue 2,098 2,220 4,318 2,822 2,993 5,815 Joint Ventures 207 190 397 258 263 521 Plastic
Slide 30: H1 2023 Profit & Loss account (1/2)
H1 2023 Profit & Loss account (1/2) In €m H1 2022 H2 2022 H1 2023 Consolidated sales 3,921 4,617 5,293 Cost of materials and parts sold -2,756 -3,333 -3,767 In % of sales -70.3% -72.2% -71.2% Production costs -720 771 -955 In % of sales -18.4% -16.7% -18.0% Net Research and Development costs -125 -1
Slide 31: H1 2023 Profit & Loss account (2/2)
H1 2023 Profit & Loss account (2/2) In €m H1 2022 H2 2022 H1 2023 Operating margin 179 185 210 In % of sales 4.6% 4.0% 4.0% Other operating expenses -17 -48 -19 In % of sales -0.4% -1.0% -0.4% Financial expenses -24 -38 -49 In % of sales -0.6% -0.8% -0.9% Income Tax -30 -30 -40 Net Result 109 69 103
Slide 32: H1 2023 Cash-flow statement
H1 2023 Cash-flow statement Operating margin 179 210 EBITDA 414 463 Net operating Cash Flow 359 349 In % of sales 9.1% 6.6% Capex and development -154 -205 In % of sales -3.9% -3.9% Change in WCR -72 +46 O/w factoring +47 +128 Free Cash-Flow 134 191 Dividends -49 -56 Treasury shares -8 -3 IFRS 16 -1