- United States is the 1st contributor to Group revenue
- Plastic Omnium is now OPmobility
• Q1 2024 economic revenuea) of €2,867 million, up +1.6% (+3.6% LFLc)), outperforming global automotive productionj) by +4.5 points, in line with Group annual target.
• The United States is the top contributor to Group revenue, confirming a well-balanced geographical footprint. The new module assembly plant in Austin (Texas), will contribute to accelerate OPmobility's activity growth in North America.
• With its name change to OPmobility, the Group turns a new page in its history and confirms the acceleration of its strategic transformation as a leading player in sustainable and connected mobility.
• Successful completion of a €500 million bond issue due March 2029, extending the average maturity of the Group's debt. This issue followed S&P Global Ratings assigning the Group a BB+ rating with a stable outlook.
• The Group confirms its outlook for 2024, with an improvement in all financial aggregates compared to 2023: operating margin, net result Group share, free cash flow, and net debt.
Laurent Favre - Chief Executive Officer of OPmobility, said:
"The first quarter of 2024 was pivotal in the Group's history. We will now continue our strategic transformation under the name OPmobility, addressing all forms of mobility in growth regions and primarily North America. This quarter, the United States is the Group's lead country in terms of revenue. OPmobility's performance at the start of the year confirms the strong growth potential of our five Business Groups and our ability to achieve our annual targets."
Download full press release:
https://www.opmobility.com/wp-content/uploads/2024/04/opmobility-press-release-first-quarter-2024-revenue-en.pdf
© 2024 GlobeNewswire (Europe)
