RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News:
Groupe PSA (Paris:UG)
Group Q1 2018 revenue amounted to €18,182 million, compared with €12,798 million in Q1 2017. At constant 2015 exchange rate and perimeter, 2018 Group revenue was up 21.6%4.
PCD Automotive division revenue amounted to €10,214 million up by 13.3% compared to Q1 2017. This increase was mainly driven by volume and country mix (+6.0%), as well as product mix (+4.5%) linked to the worldwide success of the Group’s new models, and sales to partners (+3.9%), that more than compensated the negative impact of exchange rates (-2.8%).
OV Automotive division revenue amounted to €4,838 million in Q1 2018.
Q1 2018 consolidated worldwide sales were up in all regions (Europe, Middle East Africa, Latin America, Eurasia, India Pacific and China) with a record 1.05 million cars sold.
Total PCD inventory, including independent dealers, stood at 438,000 vehicles5 at the end of March 2018, up 48,000 units compared to end of March 2017. OV inventory totalled 219,000 vehicles at the end of March 2018.
Jean-Baptiste de Chatillon, Chief Financial Officer of Groupe PSA and member of the Managing Board, said: « Push to Pass strategic plan and Opel Vauxhall turnaround plan are on track to make this strong performance a solid basis for the future. »
Market outlook: in 2018, the Group anticipates a stable automotive market in Europe, and growth of 4% in Latin America, 10% in Russia and 2% in China.
Operational targets
The Push to Pass plan sets the following targets for Groupe PSA (excluding Opel Vauxhall):
Deliver over 4.5% Automotive recurring operating margin6 on average in 2016-2018, and target over 6% by 2021;
Deliver 10% Group revenue growth by 20187 vs 2015, and target additional 15% by 20217.
Link to the presentation of Q1 2018 revenue.
Financial Calendar
24 July 2018: 2018 interim results
24 October 2018: Third-quarter 2018 revenue
About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its Push to Pass strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.
Media library: medialibrary.groupe-psa.com / @GroupePSA
Attachments
Revenue Q1 2018 versus Q1 2017
In million Euros
Q1 2017
Q1 2018
Change
Automotive – Peugeot Citroen DS
9,018
10,214
+1,196
Automotive – Opel Vauxhall *
—
4,838
+4,838
Faurecia **
4,204
4,315
+111
Other businesses and eliminations ***
(424)
(1,185)
-761
Group Revenue
12,798
18,182
+5,384
* Since Opel Vauxhall acquisition on 1st August 2017
** IFRS15 application with 2017 restated (excluding essentially monoliths)
*** Including remaining activities of Banque PSA Finance
Q1 2018 Consolidated Worldwide Sales
Units*
Q1 2017
Q1 2018
Variation
Europe**
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
267,575
186,832
10,905
465,312
—
465,312
299,343
195,120
11,516
505,979
264,979
770,958
+11,9%
+4,4%
+5,6%
+8,7%
NS
+65,7%
Middle-East & Africa ***
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
120,161
12,214
0,456
132,831
—
132,831
124,859
7,222
0,289
132,370
9,000
141,370
+3,9%
-40,9%
-36,6%
-0,3%
NS
+6,4%
China & South-East Asia
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
56,868
24,257
1,920
83,045
—
83,045
49,142
34,111
0,812
84,065
0,439
84,504
-13,6%
+40,6%
-57,7%
+1,2%
NS
+1,8%
Latin America
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
26,552
13,985
0,370
40,907
—
40,907
29,912
15,611
0,209
45,732
0,189
45,921
+12,7%
+11,6%
-43,5%
+11,8%
NS
+12,3%
India-Pacific
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
3,100
1,103
0,276
4,479
—
4,479
4,553
1,261
0,172
5,986
0,000
5,986
+46,9%
+14,3%
-37,7%
+33,6%
NS
+33,6%
Eurasia
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
1,851
0,983
0,016
2,850
—
2,850
1,682
1,443
0,011
3,136
0,072
3 208
-9,1%
+46,8%
-31,3%
+10,0%
NS
+12,6%
Total Consolidated Worldwide Sales
PeugeotCitroën
DSPCD
Opel Vauxhall
Total PSA
476,107
239,374
13,943
729,424
—
729,424
509,491
254,768
13,009
777,268
274,679
1,051,947
+7,0%
+6,4%
-6,7%
+6,6%
NS
+44,2%
* Assembled vehicles, CKDs and vehicles under License
** Europe = EU + EFTA + Albania + Croatia + Kosovo + Macedonia + Serbia
*** o/w 106 kunits sold under Peugeot license by Iran Khodro in 2018
1 Groupe PSA worldwide consolidated sales include Opel Vauxhall (OV) sales since August 1st 2017
2 Groupe PSA revenue includes Opel Vauxhall (OV) since August 1st 2017
3 PCD market share, Q1 2018 vs Q1 2017
4 As of 31 March 2018, growth at constant exchange rates (2015) and perimeter (excluding OV) versus revenue as of 31 March 2015.
5 Excluding JV in China and Iran, including independent dealers
6 Recurring operating income related to revenue
7 At constant (2015) exchange rates and perimeter (excluding OV)