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Plastic Omnium S.A. Business Report FY2008
Business Highlights
| Financial Overview | (in million euros) |
| FY2008 | FY2007 | Rate of change (%) | Factors | |
| Overall Sales | 2,696.5 |
2,685.1 |
0.4 |
- |
| Automotive Equipment Sales | 2,171.5 | 2,249.5 | (3.5) | 1) |
1)
-Automotive revenue contracted by 21% in the fourth quarter, compared with a 25% decline for total automobile production in Europe and North America.
-In North America, automotive revenue was unchanged, both in the fourth quarter and over the full year, thanks to sales to non-US carmakers. BMW, Volkswagen, Nissan and Hyundai now account for nearly half of the Company's sales in North America.
-Revenue continued to grow in emerging countries in Asia and South America, lifted by 2007 and 2008 capital projects in China and Argentina. PSA Peugeot Citroen is now the Company's largest automotive customer, accounting for 18% of revenue (compared with 16% in 2007), followed by Renault at 17% (19% in 2007) and General Motors at 15%, (19% in 2007).
-German carmakers Volkswagen/Porsche and BMW continued to increase their contribution, accounting, respectively, for 14% and 13% of total automotive revenue.
-Overall, German automobile manufacturers are the Company's biggest customers, with 34% of automotive revenue, compared with 32% for French carmakers and 15% for US manufacturers. Asian carmakers' contribution to revenue rose to 9%.
Contracts
-In 2008, the Company received its first order for a hybrid hatchback made of thermoset and thermoplastic materials that is 20% lighter than a steel hatchback.
-Revenue generated by the Automotive segment in 2008 included the following amounts broken down by customer:
391.8 million euros with PSA Peugeot Citroen
363.3 million euros with Renault/Nissan
327.1 million euros with General Motors
270.4 million euros with BMW
267.0 million euros with Volkswagen.
R&D
R&D Expenditures
-In 2008, research and development allocation totaled 140 million Euros or 5.2% of consolidated revenue (127.9 million Euros in 2007).
R&D Structure
-A total of 1,030 engineers and technicians are employed worldwide in 13 R&D centers located near carmaker decision-making centers.
-The Company manages a portfolio of 652 patents, of which 51 were filed in 2008.
R&D Highlights in 2008
-In Automotive Equipment, research focuses on reducing CO2 and particle emissions, making exterior components lighter and cars more attractive, developing more fully functioned modules and improving pedestrian safety. To achieve these goals, the Company leverages its expertise in component architecture, injection and paint technologies, and the formulation of thermoplastics and composites.
-In 2008, research and development allocation totaled 140 million Euros or 5.2% of consolidated revenue (127.9 million Euros in 2007).
R&D Structure
-A total of 1,030 engineers and technicians are employed worldwide in 13 R&D centers located near carmaker decision-making centers.
-The Company manages a portfolio of 652 patents, of which 51 were filed in 2008.
R&D Highlights in 2008
-In Automotive Equipment, research focuses on reducing CO2 and particle emissions, making exterior components lighter and cars more attractive, developing more fully functioned modules and improving pedestrian safety. To achieve these goals, the Company leverages its expertise in component architecture, injection and paint technologies, and the formulation of thermoplastics and composites.
Investment Activities
| Capital Expenditure | (in million euros) |
| FY2008 | FY2007 | FY2006 | |
| Total | 97 | 120 | 94 |
Overseas Investments
-In China, YFPO, a manufacturer of exterior components in which the Company holds a 49.95% stake, opened two new production plants in Nanjing and Pudong.
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