Plastic Omnium: presents new targets
(CercleFinance.com) - Plastic Omnium will present its strategic vision in hydrogen mobility and its new group forecasts at a digital conference at 2 pm today.
In 2030, it aims for a 25% market share in hydrogen tanks, with 10%-15% for fuel cells and 10% for its integrated hydrogen system.
In this market, Plastic Omnium is targeting sales of around 300 million euros in 2025, increasing tenfold to 3 billion euros in 2030. To reach this target, the Group will invest around 100 million euros per year over the next few years.
Plastic Omnium is raising its targets for the second half of the year, now aiming for an operating margin of over 5% (vs. 4% previously), with free cash flow exceeding 400 million euros (vs. 250 million euros previously).
Management says that 2021 promises to be a year of strong business recovery for Plastic Omnium, when the group returns to profitability and free cash flow generation levels that are comparable to those of 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In 2030, it aims for a 25% market share in hydrogen tanks, with 10%-15% for fuel cells and 10% for its integrated hydrogen system.
In this market, Plastic Omnium is targeting sales of around 300 million euros in 2025, increasing tenfold to 3 billion euros in 2030. To reach this target, the Group will invest around 100 million euros per year over the next few years.
Plastic Omnium is raising its targets for the second half of the year, now aiming for an operating margin of over 5% (vs. 4% previously), with free cash flow exceeding 400 million euros (vs. 250 million euros previously).
Management says that 2021 promises to be a year of strong business recovery for Plastic Omnium, when the group returns to profitability and free cash flow generation levels that are comparable to those of 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.