(News Bulletin 247) – The group announces 34.5% growth in turnover to 2,822 million euros in the 1st quarter of 2022 (+17.5% LFL), driven by both the Industries and Modules. Consolidated revenue, excluding joint ventures, amounted to 2,564 million euros, up +35.6% (+18.0% LFL)) compared to the 1st quarter of 2022.
In Europe, economic revenue increased by +27.6% to €1,476 million in a market experiencing strong growth (+17.3%). In North America, it was up +1.5% to 741 million euros in a market that grew by +9.4%. In China, sales amounted to 258 million euros, up +6.8%.
The group recorded historical order intake in North America for around 10 billion euros for thermal, electric and hydrogen vehicles. Plastic Omnium Modules will open a new US plant producing front end and cockpit modules for electric vehicles.
For 2023, the Group is targeting strong economic growth and outperformance of global automotive production, an operating margin of more than 400 million euros, up more than 10% compared to 2022, and a free cash flow above 260 million euros, in a context of strong investments in growth drivers.
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