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Shareholders LETTER TO OUR SHAREHOLDERS SEPTEMBER 2016 P.3 P.4 P.6 P.8 PERFORMANCE HIGHLIGHTS DECIPHERING SHAREHOLDER THE DATA INFORMATION P.4 P. 5 In the first half of 2016, our revenue of €3.2 billion was up by 11%, and our profitability was growing even faster, with an operating margin up by nearly 13%. LAURENT BURELLE CHAIRMAN AND CHIEF EXECUTIVE OFFICER P. 2 P. 6 MESSAGE from the Chairman and Chief Executive Officer You can find the presentation of the 2016 half-year results at www.plasticomnium.com €3.2 billion revenue +8% €267 million operating margin +12.7% TO OUR SHAREHOLDERS, During the first half of 2016, Plastic Omnium once again Such performance is €155 million achieved a record level of proof of the continuous net profit, revenue and results. Our revenue commitment of of €3.2 billion was up by 11%, Group share and our profitability was growing our employees to even faster, with an operating margin operational excellence. up by nearly 13%. For the first time, +9.5% our operating margin exceeded the historic level of 10%. LAURENT BURELLE At the same time, our net debt Chairman and has been even further reduced. Chief Executive Officer €383 million Such performance is proof of EBITDA the continued commitment of our employees to operational It is this extremely healthy financial excellence – total quality position which has made it possible +10.5% in development and production, for us to seize an opportunity and perfect logistics. for sizeable external growth, with This operational excellence, the acquisition of Faurecia’s Exterior together with a policy of sustained Systems, carried out on July 29. investments for globalizing our We will thus achieve a pro forma €92 million industrial footprint and designing revenue of approximately free cash-flow products that are always €7.5 billion for the year 2016. increasingly innovative, makes it Such size significantly increases possible for us to win market share our capacities for innovation and and to log our development over growth. It will make it possible the long term. For a family-run group for us to offer manufacturers new such as ours, this is fundamental, solutions to respond to automotive and this strategy is sustained technological changes. €263 million by a financing structure that net debt is continually improved upon. Thank you for your confidence. 02 LETTER TO OUR SHAREHOLDERS | SEPTEMBER 2016 PERFORMANCE Results and outlook 2016 half-year results Strong growth and further improvement of industrial performance in the first half of 2016 Change in economic revenue Distribution of revenue in millions of euros by region +8.0% 3,180 2% 2,945 South 17% America Asia The increase in revenue was 55% driven by Europe and Asia. Europe/ 26% Africa In Europe, 33 new programs North America were launched during the course of first-half 2016. Activity was particularly sustained in France H1 2015 H1 2016 (+10.7%) and in Spain (+11.5%) Strong growth attributable to the Automotive Division as well as in England (+27.3%). Moreover, the development of SCR for Economic revenue for Plastic Omnium Automotive amounted reducing diesel vehicles emissions was confirmed, with an increase of to €2,992.8 million. It grew by 8.7% and by 11.9% at constant 37% over the first half. Activity expanded in Asia by 11.7%, at constant exchange rates, in the course of worldwide automobile exchange rates, supported by China, where the Group benefited production which was up by 2.2% in first-half 2016, from intense investment made during the course of the last three years for a market outperformance of 9.7 points higher in order to grow the industrial footprint and to win market share. than the forecasts announced by the Group. Operating margin Net profit – Group share in millions of euros and as a percentage in millions of euros and as a percentage of consolidated revenue of consolidated revenue Operating margin reached the historic level of 10.1% +9.5% 155 +12.7% 267 of consolidated revenue. 142 237 5.8% 10.1% The Automotive Division benefited 5.7% 9.6% from a high utilization rate (85%) of its production capacity worldwide. Operational excellence for the 88 new programs launched during the course of the first six months of the year, accompanied The net profit - Group by strict cost control, also share was €155 million, contributed to improvement H1 2015 H1 2016 an increase of 9.5%. H1 2015 H1 2016 of the operating margin. Outlook Net debt in millions of euros Over the whole of 2016, at constant scope, Plastic Omnium 354 will be driven by the same dynamic as in the first half- year, and will continue its profitable growth generating -€91 M Net debt came to €263 million, 263 cash-flow. down by €5 million in comparison with December 31, 2015, Following the acquisition on July 29, 2016 of Faurecia’s after €61 million in dividends Exterior Systems operations, the Plastic Omnium Group, and €33 million in share thus reinforced, will realize pro forma revenue along the buy-backs. It now represents order of €7.5 billion in 2016. The company has over 32,000 20% of equity and 0.4 times employees, with 136 plants and 22 R&D centers throughout EBITDA. the world. H1 2015 H1 2016 LETTER TO OUR SHAREHOLDERS | SEPTEMBER 2016 03 HIGHLIGHTS At the heart of current Group news JANUARY 2016 a — APPOINTMENT Jean-Michel Szczerba, Director and Chief Operating Officer, became Co-Chief Executive Officer of Plastic Omnium on January 1, 2016. a FEBRUARY 2016 — PLASTIC OMNIUM RECEIVES AWARD FROM TOYOTA Plastic Omnium received the “Global Contribution Award” from Toyota, given at the annual convention of its suppliers, which was held in Nagoya (Japan), on February 26, 2016. This is the highest distinction given by Toyota to its suppliers. The trophy rewards the equipment manufacturers with the highest performance of the year. t APRIL 2016 — OFFICIAL VISIT OF THE PRESIDENT OF THE REPUBLIC Last April 15, François Hollande, President of the French Republic, and Laurent Burelle, Chairman and Chief Executive Officer of Plastic Omnium, inauguratedα -Alphatech, the R&D Center of Venette. This event, timed on the anniversary date of Plastic Omnium’s founding, was the occasion for celebrating the dynamism and the innovative force which has been supporting the Group’s development since 1946. DID YOU KNOW? In 2020 24 innovations 1 vehicle out of 5 in Europe, automobiles patented in order to equip in the world is equipped will have to emit 95 g of CO2 the tanks of hybrid vehicles with Plastic Omnium fuel and per kilometer on average with the INBAFFLE device, which emission-control systems (as compared with 130 g today) reduces noise from sloshing 04 LETTER TO OUR SHAREHOLDERS | SEPTEMBER 2016 NOVELTY… Upon the occasion of the TECMA (Madrid, Spain) and IFAT (Munich, Germany) trade fairs, Plastic Omnium presented its very latest waste-management solutions. An anechoic chamber which makes it possible to study Visitors particularly appreciated products the noise from displacement ? of fuel in the hybrid-vehicle tanks. pertaining to electronic management: collection management (Optimanager- Optinet), control of the refilling level SITE VISIT — (Optifill), and control of access SHAREHOLDERS’ VISIT TO THE to the container (Optiaccess). The innovative solutions in bio waste RESEARCH & DEVELOPMENT CENTER (5th stream) also met with complete α-ALPHATECH IN COMPIÈGNE success, just as did the new M4® ON NOVEMBER 9, 2016 underground container terminal. u On next November 9, Plastic Omnium is holding a visit for its shareholders in its Research & Development Center in Compiègne. Because the number of seats is limited, please be so kind as to register - either by email at the following address [email protected] - or by telephone by dialing the toll-free number 0 800 777 889 JUNE 2016 — OPENING OF THE NEW CLIENT SERVICE CENTER IN LYON Alphavision virtual-reality room t 24,000 m2 The Center accommodates dedicated to research 130 persons, notably, the client and innovation service department, which manages 6 million residents and receives 250,000 calls per year. LETTER TO OUR SHAREHOLDERS | SEPTEMBER 2016 05 DECIPHERING THE DATA These events are making history for the Group FAURECIA’S EXTERIOR SYSTEMS, A HISTORIC ACQUISITION Last July 11, the European Commission AN ACQUISITION OF SIGNIFICANT SCOPE, authorized the acquisition by Plastic Omnium BOTH IN TERMS OF ITS GEOGRAPHIC of Faurecia’s Exterior Systems business, subject FOOTPRINT AND CUSTOMERS to the acceptance of a certain number The revenue set out by Plastic Omnium, €1.2 billion, confirms of divestment commitments. the strategic and industrial relevance of the transaction. It includes €1.1 billion in revenue in bumper-production The acquisition was carried out on July 29, 2016, operations (or close to 75% of the initial scope), including €800 million in Germany, where Plastic Omnium was not for an enterprise value of €665 million, paid out present in the production of body exterior systems. of the Group’s own resources. Close to half of this revenue was achieved with new customers, and 40% with premium customers. July 29, 2016 5,500 €1.2 billion acquisition employees in revenue carried out 06 LETTER TO OUR SHAREHOLDERS | SEPTEMBER 2016 “ This acquisition increased YOUR NEXT the size of Plastic Omnium Auto Exterior by 50%, RENDEZ-VOUS and added an R&D Center of 300 persons in Germany ” AUTOMOTIVE PARIS – Le Mondial de l’Automobile (Paris Motor Show) October 1 - 16, 2016 ENVIRONMENT AN ACCRETIVE ACQUISITION, WITH STRONG POTENTIAL LYO N FOR IMPROVEMENT Pollutec Exhibition This acquisition, which was immediately accretive, produces an annual November 29 to December 2, 2016 operating margin of €50 million, and will generate an additional €70 million in synergies by the year 2019.
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