To put things into perspective, the deals make up for 26.4% of the company’s 2018 operating consolidated revenues. Although contracts have a multi-year duration, in our view such a strong increase in contract backlog further fosters the stability and growth prospects of the company.
AD Plastik published an announcement stating that they have concluded new deals for PSA and FCA Group. Regarding the latter, the company has sealed a EUR 20.7m contract for vehicles Jeep Compass and Fiat 500e. Within the total deal value, EUR 13.9m was concluded for production of interior components and air ducts for Fiat 500e (starting in 2020 with project duration of 8 years) while EUR 6.8m was concluded for production of grab handles for Jeep Compass (starting in 2020 with duration of 4 years)
Regarding the former or PSA Group, deal value amounts to EUR 26.1m split onto four different parts. The largest part relates to EUR 20m for the production of grab handles for several models of Peugeout, Citroen and Opel). The estimated project duration is 10 years, while the production is planned to start in 2019. Secondly, EUR 3 million relates to production of side trims for Citroen C3. (starting in 2020 / duration of 4 years). Lastly, 1.7m contract relates to production of speaker brackets for the vehicles Citroen Picasso and C-Elysee while 1.4m relates to production of inner engine covers. Both deals start in 2020 with expected duration of 8 and 7 years, respectively.