Opmobility · EURONEXT:OPM
Opmobility — Plastic Omnium — FY2011 Earnings Presentation
29 slides from Opmobility's earnings presentation, Mar 8, 2012
Slide 1: 2011 Financial results
LEVALLOIS, 8 MARCH 2012 2011 Financial results Laurent Burelle Chairman and Chief Executive Officer Paul Henry Lemarié Director and Chief Operating Officer Jean-Michel Szczerba Chief Operating Officer
Slide 2: Overview
2011 Financial results OVERVIEW 2011 Overview 2011 Financial Results 2012 Outlook 8 March 2012 2
Slide 3: Pursuit of profitable growth: Consolidated Revenue
2011 Financial Results PURSUIT OF PROFITABLE GROWTH Consolidated Revenue X2.7 In €m 4,220 +30% 3,250 2,685 1,572 2001 2007 2010 2011 3 8 March 2012
Slide 4: Pursuit of profitable growth: Operating margin
2011 Financial Results PURSUIT OF PROFITABLE GROWTH Operating margin 296 +31% (7.0%) In €m and as a % of revenue 227 (7.0%) 101 (3.8%) 49 (3.1%) 2001 2007 2010 2011 4 8 March 2012
Slide 5: Pursuit of profitable growth: Free Cash Flow
2011 Financial Results PURSUIT OF PROFITABLE GROWTH Free Cash Flow 2009 to 2011 193 181 In €m 180 153 130 €527m of Free cash flow 81 80 46 40 26 30 12 18 -20 -17 -64 -70 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 5 8 March 2012
Slide 6: Investing in fast-growing regions
2011 Financial Results ONGOING DEPLOYMENT OF THE STRATEGY Investing in fast-growing regions • Opening of 5 new plants: two in China and one each in Brazil, Morocco and Poland • Creation of two fuel-system joint ventures in which Plastic Omnium holds a majority interest, one in China with BAIC and th
Slide 7: Technological leadership
2011 Financial Results ONGOING DEPLOYMENT OF THE STRATEGY Technological leadership • Creation of the first Composites R&D Center at Σ-Sigmatech • 10 orders for tailgates made with composites • 11 orders for fuel tanks equipped with the SCR system • Contract awarded to supply most SCR systems for Aud
Slide 8: Results
2011 Financial results OVERVIEW 2011 Overview 2011 Financial Results 2012 Outlook 8 March 2012 8
Slide 9: Revenue by business
2011 Financial Results REVENUE By business In €m 2010 2011 Change Plastic Omnium Automotive 2,778.0 3,720.1 +33.9% As a % of revenue 86% 88% Plastic Omnium Environment 471.6 500.3 +6.1% As a % of revenue 14% 12% Consolidated revenue 3,249.6 4,220.4 +29.9%* (*) +14.7% at constant perimeter and exchan
Slide 10: Revenue: worldwide presence and plants
2011 Financial Results REVENUE 2011 Revenue: €4,220m Worldwide presence 103 plants EASTERN EUROPE Revenue: €362m 9% of total CHINA NORTH AMERICA WESTERN EUROPE 10 plants Revenue: €225m Revenue: €1,002m Revenue: €2,037m 5% of total 24% of total 48% of total 12 plants 15 plants 48 plants ASIE (excl. C
Slide 11: Revenue by region
2011 Financial Results REVENUE Bu region 4 500 Average annual growth 4 000 +10% +30% Average annual growth 3 500 3 000 +6.5% 2 500 Average annual growth 2 000 +13% 1 500 Average annual growth 1 000 500 +5% Average annual growth 0 2001 2005 2006 2010 2011 France Europe (excl. France) North America As
Slide 12: Growth through geographic expansion: Brazil, Argentina
2011 Financial Results GROWTH THROUGH GEOGRAPHIC EXPANSION: BRAZIL, ARGENTINA P P Revenue No. of plants Current O O >€250m 5 facilities A Brazil A U U 4 T Curitiba T O €175m Taubaté O M M Buenos Aires O O Pilar T T I I V 0 0 Argentina V E E 2005 2 0 11 2 0 15 e 2005 2 0 11 2 0 15 Automobile producti
Slide 13: Growth through geographic expansion: Russia
2011 Financial Results GROWTH THROUGH GEOGRAPHIC EXPANSION: RUSSIA P Revenue No. of plants Current O >€50m 4 facilities A U T O Stavrovo M O T €10m 1 I V 0 0 E 2005 2 0 11 2 0 15 e 2005 2 0 11 2 0 15 Automobile production Market share PO partners 2000 (in thousands of vehicles) of plastic used in fu
Slide 14: Growth through geographic expansion: India
2011 Financial Results GROWTH THROUGH GEOGRAPHIC EXPANSION: INDIA P Revenue No. of plants Current O > €100m 5 facilities A New Delhi U T O 3 M Pune O T €20m Vellore I V 0 0 E 2005 2 0 11e 2 0 15 e 2005 2 0 11 2 0 15 Automobile production Market share PO partners (in thousands of vehicles) of plastic
Slide 15: Growth through geographic expansion: China
2011 Financial Results GROWTH THROUGH GEOGRAPHIC EXPANSION: CHINA P Revenue No. of plants Current Changchun O >€500m 25 facilities Shenyang A Beijing U T Qingdao O 12 >€200m Nanjing Jiangyin M Wuhan Anting Pudong Chengdu O T Chongqing I V 0 0 Guangzhou E 2005 2 0 11 2 0 15 e 2005 2 0 11 2 0 15 Autom
Slide 16: Outperformance in the automotive business
2011 Financial Results REVENUE OUTPERFORMANCE IN THE AUTOMOTIVE BUSINESS North America + 17 % +17% Europe +12% China +23% Production +10% Production +5% Production +4% Asia (excl. China) +23% South Amercia +7,6% 17 % Production -3% Production +3% Growth of Plastic Omnium’s revenue at constant perime
Slide 17: Automotive revenue by carmaker
2011 Financial Results AUTOMOTIVE REVENUE 2011 Automotive Others revenue: €3,720m Trucks GM/Opel By carmaker 10% 17% 4% 27 Hyundai/Kia % 5% No.1 worldwide: 10% PSA of market share Fiat/Chrysler 5% Exterior components Peugeot 17% No.2 Magna 6% Citroën No.3 Faurecia Ford No.1 worldwide: 20% 10% 23 % o
Slide 18: Statement of income
2011 Financial Results STATEMENT OF INCOME % % in €m 2010 revenue 2011 revenue Revenue 3,249.6 100 % 4,220.4 100% Automotive 2,778.0 86% 3,720.1 88% Environment 471.6 14% 500.3 12% Gross margin 494.1 15.2% 614.1 14.6% Operating margin 227.2 7.0% 296.5 7.0% Automotive 201.4 7.2% 273.2 7.3% Environmen
Slide 19: Statement of income: production cost and overheads
2011 Financial Results STATEMENT OF INCOME Production cost and overheads as % of revenue 37.1% 35.7% 34.2% 32.9% 32.2% 2007 2008 2009 2010 2011 19 8 March 2012
Slide 20: Statement of income: payroll
2011 Financial Results STATEMENT OF INCOME Payroll as % of revenue 21.3% 21.0% 20.7% 19.0% 17.9% 2007 2008 2009 2010 2011 20 8 March 2012
Slide 21: Statement of income
2011 Financial Results aSTATEMENT OF INCOME % % In €m 2010 revenue 2011 revenue Revenue 3,249.6 100% 4,220.4 100% Operating margin 227.2 7.0% 296.5 7.0% Finance cost and other financial income and -27.2 -0.8% -42.1 -1.0% expense Other income and expenses -24.3 -0.7% -7.3 -0.2% Inergy PPA capital gai
Slide 22: Balance sheet: debt and free cash flow
2011 Financial Results BALANCE SHEET en M€ 2010 2011 Debt at the beginning of the period -406 -538 Funds from operations +357 +421 Taxes and interest paid -36 -93 Capital expenditure -138 -228 Change in working capital requirement +10 +53 Free cash flow +193 +153 Dividends/Treasury stock -16 -44 Cha
Slide 23: Balance sheet: debt, equity, ROCE
2011 Financial Results BALANCE SHEET DEBT In €m 550 538 EQUITY 471 406 In €m 350 739 700 2009 2010 2011 600 500 618 400 440 ROCE 300 As % 24% 200 25 20% 2009 2010 2011 20 12,1% 15 10 5 2009 2010 2011 NET DEBT/EBITDA In points 2 NET DEBT-TO-EQUITY 1.5 1.4 As % 1 1.0 100 0 92% 87% 2009 2010 2011 64% 0
Slide 24: 2012 Outlook
2011 Financial results OVERVIEW 2011 Overview 2011 Financial Results 2012 Outlook 8 March 2012 24
Slide 25: 2012 Outlook: worldwide automobile production
2011 Financial Results 2012 OUTLOOK Worldwide automobile production expected to rise by 5% In thousands of vehicles IHS : 2011 production (VL + VU) = 75,145 2012 production (VL + VU) = 78,885 +3,700 NORTH AMERICA WESTERN EUROPE ASIA (excl. France) +9.6% -8% +10,2% 13,174 14,443 11,400 10,492 2011 20
Slide 26: 59 project launches in 2012
2011 Financial Results 59 PROJECT LAUNCHES IN 2012 Mainly exterior components and fuel tanks EUROPE NORTH AMERICA Range Rover AMAROK Altima Fluence New Logan Clio Cadillac ATS/CTS Megane/Scenic Astra 5-doors FL Global Small SUV Astra 5W 208 FIAT 500 Abarth “Coeur gamme” REN K67-J92 Atego 3 XC60 GAMM
Slide 27: 2012 Outlook: new facilities
2011 Financial Results 2012 OUTLOOK 11 new facilities in 2012 +1 United States +1 Russia +3 Europe +1 Mexica +4 China +1 India POAE : 5 plants POAI : 6 plants 27 8 March 2012 27
Slide 28: Conclusion: 2012 outlook
2011 Financial Results CONCLUSION 2012 OUTLOOK • Based on current economic forecasts, Plastic Omnium expects to once again grow faster than the global automobile market. • Continued international expansion and technological leadership • Generation of over €100m in free cash flow 28 8 March 2012
Slide 29: 2012 Shareholder calendar
2011 Financial Results 2012 SHAREHOLDER CALENDAR ON 24 FEBRUARY 2012, PLASTIC OMNIUM REJOINED THE NYSE EURONEXT DEFERRED SETTLEMENT SERVICE RECOMMENDED DIVIDEND OF €0.69 PER SHARE PAYABLE ON 4 MAY 2012 (PAYOUT: 20% ) ANNUAL SHAREHOLDERS MEETING on 26 APRIL 2012 at Pavillon Gabriel 29 8 March 2012