THE GROUP TECHNOLOGIES ACT FOR ALL FINANCE CAREERS PRESS ROOM CONTACT EN FR Home / Finance / 13.4% increase in revenue in first nine months of 2021, in a challenging environment 13.4% INCREASE IN REVENUE IN FIRST NINE MONTHS OF 2021, IN A CHALLENGING ENVIRONMENT 27-10-2021 2 min Finance Reinforcement in third quarter of cost saving measures to tackle accelerated deterioration of market. In the third quarter of 2021: – Economic revenue down 14.4% against a 19.5% market decrease, – Strong cost reduction measures, reducing the impact of production stoppages linked to semiconductor shortages, – Priority on cash generation, – Significant breakthroughs in the commercial pipeline for hydrogen storage systems, – Reinforcement of Group’s position in electric vehicles, – High number of production starts and order intakes. In the first nine months of 2021: – Economic revenue up 13.4% versus a 9.7% increase in global automotive production, – Growth in all geographical areas, including: * Europe, driven by a successful first half of 2021 a large number of production starts in Q3 and positive momentum in electric vehicles, * China and the Rest of Asia, thanks to a strong recovery from COVID and a lower relative impact from the semiconductor shortages. Outlook: Updated guidance for FY 2021 demonstrating a strong adaptation capacity in the face of the semiconductor crisis and supported by solid financial fundamentals. The third quarter of 2021 has witnessed an exceptionally volatile market, based on the ongoing supply shortage of semiconductors. This has led to unforeseeable stops and starts in production on the basis of last minute notifications by car manufacturers. The subsequent and unforeseeable sharp reduction in production volumes is evidenced by IHS’ drastic revision to worldwide automotive output for 2021. Our agility and solid financial fundamentals give us confidence in our ability to manage this difficult period together with our customers. Our teams are doing a remarkable job of increasing the flexibility of our production facilities and adapting our operations. As of now, IHS foresees some recovery in the second half of 2022 and we will be ready for it, supported by a solid backlog. Moreover, we are significantly sharpening our focus on cost reduction and cash generation. We are continuing to lay the groundwork to support our long term growth strategy which aims to increase the content per vehicle, expand our customer base, and accelerate our strategy to promote clean mobility. We see sustainability not as a constraint, but as a competitive advantage and driver of change. On December 8, we will present our objectives in relation to our sustainability roadmap. Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE Open pdf file 2021 Q3 Confcall presentation To listen to the replay of the conference, click here Share Twitter Linkedin E-mail ... YOU MAY LIKE: SEE ALL 23-11-2021 Plastic Omnium and the Elles Bougent association welcomed young girls from middle school to the Company's Headquarter On the occasion of the 10th Industry Week, Plastic Omnium CEO Laurent Favre, Félicie Burelle, Managing Director and the Elles Bougen... 23-11-2021 Plastic Omnium & AVL sign a strategic hydrogen partnership Plastic Omnium, a leading automotive supplier and key player in the hydrogen value chain, together with AVL, the world’s largest ind... SITE MAP CONTACT LEGAL NOTICES PRIVACY STATEMENT & COOKIES PRIVACY STATEMENT & RECRUITMENT GENERAL TERMS AND CONDITIONS CREDITS ACCESSIBILITY Follow all Plastic Omnium News Sign up Plastic Omnium 1, allée Pierre Burelle 92593 Levallois Cedex France Phone: +33 (0)1 40 87 64 00 Our site and our partners use cookies to personalize the site, to analyze its performance and to provide you with social media sharing functions. In the case of cookies subject to your consent, you can accept all of them, refuse all of them, or choose to configure them by clicking on “Find out more and personalize”. For more information, consult our confidentiality policy. To revise your choices, click on the “manage cookies” button at the bottom of the page. Cookie Policy Accept all Refuse all Learn more and customize