Plastic Omnium: expects acceleration in Q2

(CercleFinance.com) - Plastic Omnium's like-for-like sales growth slowed in Q1 2018, although the group continues to outperform its market, with management expecting growth to accelerate in Q2 this year.


The automotive equipment manufacturer's consolidated Q1 sales, contracted by 6.1% as reported, to 1.7 billion euros. Organic growth reached +2.5%.

Regarding the "economic sales," which includes joint ventures, the figure reached 2.04 billion euros (-109 million euros from FX factors and -44 million euros due to changes in the consolidation scope), i.e. changes of respectively -4.8% and +2.8%. In organic terms, growth in Latin America reached 10.1%, while in Asia it was 5.4%, in Europe/Africa growth was 3.1%, while sales fell by 0.3% in North America.


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