Plastic Omnium's 2023 Financial Report: Record Performance and Optimistic Outlook

Plastic Omnium, a major player in providing innovative mobility solutions, has released an impressive 2023 financial report, with revenues reaching a historic peak of 11.4 billion euros, marking a robust 20% growth compared to 2022. This growth was accompanied by an increase in the operating margin to 395 million euros, supported by increased activity, cost control, and a significant improvement in the profitability of the lighting business.

The net income attributable to the Group amounted to 163 million euros, with a proposed stable dividend of 0.39 euros per share. Free cash flow generation proved strong at 227 million euros, surpassing adjusted targets. Moreover, the Group's net debt was reduced to 1.540 billion euros, demonstrating a strong financial structure.

The company also highlighted exceptional commercial momentum, reflected in a record order backlog in 2023, confirming the appeal of its technological offering for various modes of mobility. The management remains optimistic about 2024, anticipating improved financial performance despite a slightly declining market.

Laurent Favre, CEO of Plastic Omnium, expressed satisfaction with these results, emphasizing the Group's ability to exceed the symbolic milestone of 10 billion euros in revenue, and the relevance of its diversification strategy and investment in key areas such as hydrogen and lighting.