'No bad news is good news': Plastic Omnium rises on strong results and 2024 forecast

Opmobility SE

22/02/2024 09:56

** Shares in Plastic Omnium  PLOF.PA  rise more than 6% over
better-than-expected FY results and "qualitative outlook" for
2024, Midcap Partners says
    ** The French plastic processing group reports FY revenue of
 11.4 billion euros  ($12.37 billion), at a record high, up
13.4% LFL 
    ** The group also reports FY EBIT margin of 395 million
euros, vs consensus of 370 million euros according to Midcap
    ** It exceeds the company's expectations, revised in Q3
2023, Thomas says
    ** "The absence of bad news is a positive sign", Midcap
Partners analyst Julien Thomas says, considering the "very
pessimistic positioning of the market"



($1 = 0.9213 euros)

 (Reporting by Gaëlle Sheehan and Stéphanie Hamel)
 ((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))