Langeais - February 14, 2024
| In € million Unaudited figures | 2022-2023 | 2023-2024 | Change |
| 1st quarter | 189.6 | 192.9 | +1.7% |
A solid start to financial year 2023-2024:
Plastivaloire Group posted revenue of €192.9 million in the first quarter of the year (October-December 2023), up 1.7% (up 2.7% at constant exchange rates). The Group thus achieved a new revenue record for the first quarter, despite an unfavorable currency effect.
The Motor Vehicle division (parts and tooling) recorded revenue of €157.2 million, up 2.5%. In particular, the Group is building on the launch and ramp-up of new programs launched in previous years. In a contrasting economic environment, the Industries division posted revenue of €35.7 million, down slightly by 1.8%. The Motor Vehicle and Industries divisions represent 81.5% and 18.5% of the Group's revenue for the quarter, respectively.
By geographic region, Europe[1] delivered a strong performance, achieving revenue of €168.6 million, up 2.2% (up 3.2% at constant exchange rates). Business levels in the Americas region (United States and Mexico) came in at €24.2 million, a very slight decline of 1.6% (down 1.0% at constant exchange rates), scarcely affected by the end-of-year labor unrests in the United States.
Business outlook remains cautious
Despite a backdrop of economic uncertainty that could weigh on global automotive production trends, and following the strong growth recorded in 2022-2023, the Group has confirmed its objective of consolidating its 2023-2024 revenue above €800 million for the second consecutive year.
In particular, Plastivaloire will be building on the launch of some thirty new programs in the motor vehicle division which were set in motion in previous years, and on continued negotiations with customers to index sales prices to the inflationary environment.
The restructuring project in Germany (closure of a site and transfer of the technical center's activities to France) is also progressing according to schedule, and will enable us to reduce structural costs starting in the second half of the year.
Antoine Doutriaux, Chief Executive Officer of Plastivaloire Group, said; "This first quarter of 2023-2024 is consistent with our performance in the previous year and is in line with our business plan. Given the current environment, we remain cautious and are committed to implementing actions aimed at improving our operating efficiency in the long run."
Next financial publication: May 15, 2024:
H1 2023-2024 revenue
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About Plastivaloire Group:
Plastivaloire Group ranks amongst the very top European manufacturers of complex plastic parts used in retail consumer products.
Using innovative solutions, it designs and manufactures these high-tech plastic parts and handles their mass production for the Motor Vehicle and Industries sectors.
Plastivaloire Group has more than 7,000 employees and 30 production sites in France, Germany, the United States, Poland, Spain, Romania, Turkey, Tunisia, England, Portugal, the Czech Republic, Slovakia and Mexico.
Number of shares: 22,125,600 - Euronext Paris, Segment B - ISIN: FR0013252186 - PVL
Reuters: PLVP.PA - Bloomberg: PVL.FP
Contacts
Plastivaloire Group:
Antoine Doutriaux and Vanessa Findeling on +33 (0)2 47 96 15 15
ACTUS finance & communication:
Investor Relations:
Guillaume Le Floch on +33 (0)1 53 67 36 70
Pierre Jacquemin-Guillaume on +33 (0) 1 53 67 36 79
Press Relations:
Amaury Dugast on +33 (0)1 53 67 36 74
[1] Including activities in Tunisia.
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