Plastic Omnium up on 'robust' FY results in unsettled market

Opmobility SE

22/02/2023 09:30

** Shares in Compagnie Plastic Omnium SE  PLOF.PA  rise 2.3%
after the French plastic processing group reported "robust" FY
results marked by strong cash flow
    ** Its EBITDA rose to 864 million euros ($920.68 million) in
2022 from 771 million euros a year earlier
    ** "All in all, a robust performance in 2022, in a market
unsettled by rising inflation, production stoppages and
continued chip shortages affecting overall volumes," says
J.P.Morgan
    ** The broker underscores better sequential margin delivery
and FCF resilience as the highlights of the report
    ** Midcap Partners analysts say "the highlight of the
publication is the very good cash flow, which amounted to 243
million euros, the group having largely succeeded the cash-out
related to the M&A operations" 
    ** The stock sits on top of France's SBF 120 index  .SBF120 
($1 = 0.9384 euros)
 (Reporting by Vittorio Maresca di Serracapriola)