Plastivaloire Raises Annual Revenue Target After Strong Performance

(Boursier.com) — The group Plastivaloire achieved revenue of €221.9 million in the third quarter of its 2022-2023 financial year, up +23.5% (+23.7% at constant exchange rates), above expectations. Over the period, the group announces that it benefited from the maintenance of high production rates in the automotive sector, almost without a “stop & go” period as had been the case in previous years and from increases in selling prices in order to pass on partly the impact of inflation on production costs.

The quarterly turnover of the “Automotive” sector thus stands at 177.5 ME, up by +25%. The “Industries” sector is also well oriented and recorded a turnover of 44.4 ME, up 18%.

By geographic area, Europe stands at EUR194.2 million (+27.1%) confirming the recovery of the market after almost 3 years of low cycle in automotive. Business in the Americas region (United States – Mexico), which had already rebounded over the previous year, held up with quarterly revenue of €27.7 million (+3.5% and +1.5 % at constant exchange rate).

This performance brings 9-month 2022-2023 revenue to a record level of €642.7 million, (+23.9% compared to the same period in 2021-2022 and +23.8% at constant exchange rates. ).

The advance made over the first 9 months of the financial year has led Plastivaloire to revise upwards its annual turnover target between 810 and 830 ME (780 ME previously).

The good level of activity, combined with the actions taken to mitigate the inflationary impact on costs, allows the group to expect an EBITDA margin slightly higher in the second half than in the first half (as a reminder 7.9%). However, it will still remain lower than before the health crisis due to the economic context (EBITDA margin of 10.4% in 2018-2019).