PSA Peugeot Citroën: “Push to Pass”, Performance and Organic Profitable Growth Plan
05 April 2016 - 8:01AM
Business Wire
Regulatory News:
PSA Peugeot Citroën (Paris:UG):
"Push to Pass" plan for the 2016-2021 period aims to
meet customers' mobility needs by anticipating changes in car usage
patterns. Driven by evolving customer expectations, the plan will
transform the company in order to unleash its full potential,
capitalising also on the efficiency, operational excellence and
agility demonstrated during the "Back in the Race" plan.
Based on frugal R&D expenditure and rigorous control over
production costs as well as fixed costs, the plan raises the bar
for the PSA Group's sustainable performance by setting the
following objectives:
- Reach an average 4% automotive
recurring operating margin in 2016-2018, and target 6% by
2021.
- Deliver 10% Group revenue growth by
20181 vs 2015, and target additional 15% by 20211.
To achieve these targets, the company is adapting its business
model and will create more value by optimising its existing
customer base, while also expanding it through digitalisation and
multi-brand offers in after-sales, leasing, used cars, mobility
services and fleet management. Selected venture capital investments
will also enhance the company’s portfolio of mobility
solutions.
Growth of the strong and well-differentiated Peugeot, Citroën
and DS brands will be supported by:
- High-quality products and services,
basis for the brands' pricing power.
- A product blitz, built on 26 passenger
cars and 8 light commercial vehicles, including a 1 ton pick-up,
leading to the launch of “one new car, per region, per brand and
per year”.
- A rich and sharp core technology
strategy, notably shaped by the launch of 7 plug-in hybrids
and 4 electric vehicles, and the deployment of the connected
and autonomous vehicle programme.
The plan will help to ensure profitable growth in all the
regions where the Group operates.
"Push to Pass" represents a first step towards the achievement
of the Group's vision to be: “a great global carmaker with cutting
edge efficiency and the preferred mobility provider worldwide for
lifetime customer relationship"
PSA also announces a dividend policy from 2016 financial year
based on a 25% payout ratio.
Commenting on the presentation of the “Push to Pass” plan,
Carlos Tavares, Chairman of the Managing Board said: "Based on
our financial reconstruction, we will launch a global product and
technology offensive. Now more agile, we are ready to shift
paradigms by anticipating changes in car usage patterns. Our
digital transformation will make the PSA Group a company connected
to its customers. With “Push to Pass”, we will ensure PSA
profitable organic growth."
The presentation "Push to Pass" will be available on April 5
from 12 PM CET on:
www.psa-peugeot-citroen.com/en/finance/financial-publications
About PSA Peugeot Citroën
With its three world-renowned brands, Peugeot, Citroën and DS,
PSA Peugeot Citroën sold 3 million vehicles worldwide in 2015.
The second largest carmaker in Europe, PSA Peugeot Citroën recorded
sales and revenue of €54 billion in 2015. The Group confirms
its position of European leader in terms of CO2 emissions, with an
average of 104.4 grams of CO2/km in 2015. It is also involved in
financing activities (Banque PSA Finance) and automotive equipment
(Faurecia).
For more information, please visit
www.psa-peugeot-citroen.com
1. At constant (2015) exchange rates
Communications Division - 75, avenue de la
Grande-Armée - 75116 Paris, France+33 1 40 66 42 00 –
psa-peugeot-citroen.com – @PSA_news
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