The PSA Group Benefits from the Strong Growth of the European Market, Focused on Its Pricing Power Strategy
27 April 2016 - 8:36AM
Business Wire
- The Group’s revenue amounted to
€13.0 billion, of which €8.8 billion for the Automotive division,
an increase of 1.5% at constant exchange rates.
- The operating environment is
mixed: strong European market growth but unfavourable exchange
rates.
- Global sales volumes (excluding
China) were up 3.9%. They were driven by Europe, where they grew by
5.9%.
Regulatory News:
The PSA Group’s (Paris:UG) first quarter 2016 revenue
amounted to €12,998 million, of which €8,796 million for the
Automotive division and €4,656 million for Faurecia. At constant
exchange rates, the Group’s revenue grew by 1.5% compared with Q1
2015. For the Automotive division, new vehicle revenue fell
by 1.1%. The 3.9% increase in sales volumes excluding China only
partially offset the negative impact of exchange rates (-4.4%).
In Europe, the increase in sales volumes (+5.9%) was
driven by growth in all three brands, Peugeot, Citroën and DS. In
China, deliveries to end customers were stable (-0.9%), while
invoices were down 17.9%. In Africa and Middle East, the Group’s
sales fell by 22.2%, mainly in the Algerian market.
At the end of March 2016, inventories were stable at
372,000 vehicles1.
The Group continues to pursue its strategy of profitable growth,
aimed at improving the pricing power of its three brands, Peugeot,
Citroën and DS, across all regions.
Jean-Baptiste de Chatillon, Chief Financial Officer of the PSA
Group and member of the Management Board, said: “Mobilised around
the ambitious objectives of our Push to Pass profitable growth
plan, our three brands benefited fully from the success of the Back
in the Race plan and the strong growth of the European market.
Despite the volatile environment, we are confident in our
performance and the achievement of our goals.”
Market outlook – The Group expects the automotive market
to grow by approximately 4% in Europe and 5% in China, and to
contract by approximately 10% in Latin America and 15% in Russia in
2016.
Operating outlook – The Push to Pass plan sets the
following operational targets:
- Reach an average 4% automotive
recurring operating margin in 2016-2018, and target 6% in
2021;
- Deliver 10% Group revenue growth by
20182 vs 2015, and target additional 15% by 20212.
About PSA Group
With its three world-renowned brands, Peugeot, Citroën and DS,
PSA Peugeot Citroën sold 3 million vehicles worldwide in 2014. The
second largest carmaker in Europe, PSA Peugeot Citroën recorded
sales and revenue of €54 billion in 2014. 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 now the leader in
connected vehicles with a fleet of 1.8 million such vehicles
worldwide. It is also involved in financing activities (Banque PSA
Finance) and automotive equipment (Faurecia).
For more information, please visit groupe-psa.com/fr
Appendix
Consolidated World Sales Mar-15
2015 Mar-16 2016 Δ 16/15 Δ 16/15 (in thousands) YTD
Mar. YTD Mar. March YTD Mar.
China - South East
Asia Peugeot 35.7 107.9 28.3 85.1 -20.7% -21.1% Citroën 29.3
73.8 22.3 62.5 -23.8% -15.3% DS 1.1 4.3 1.4 5.0 19.9% 17.2%
PSA 66.1 186.0 52.0 152.7
### ###
Eurasia Peugeot 0.3 1.2 0.7 1.2
101.2% 0.0% Citroën 0.3 0.9 0.5 1.0 84.7% 1.8% DS 0.0 0.0 0.0 0.0
0.0% 41.2%
PSA 0.6 2.1 1.2
2.2 ### 1.1%
Europe Peugeot
103.1 245.8 109.9 264.1 6.6% 7.5% Citroën 68.5 174.3 71.1 181.8
3.7% 4.3% DS 7.7 18.9 8.0 19.1 3.7% 0.7%
PSA
179.4 439.0 189.0 464.9 5.4%
5.9%
India - Pacific Peugeot 2.1 5.2 1.9 4.2 -12.5%
-18.5% Citroën 0.5 1.0 0.3 0.7 -31.0% -27.7% DS 0.1 0.3 0.2 0.4
63.8% 20.6%
PSA 2.7 6.5 2.4
5.3 ### ###
Latin America Peugeot 7.3
22.4 11.7 27.2 59.8% 21.3% Citroën 4.2 13.2 5.6 14.0 31.4% 6.4% DS
0.1 0.3 0.1 0.3 -27.0% -12.2%
PSA 11.7
35.9 17.4 41.5 ### ###
Middle East - Africa Peugeot 11.5 26.8 8.6 21.3 -24.5%
-20.6% Citroën 7.0 15.6 5.2 11.6 -25.5% -25.4% DS 0.1 0.4 0.2 0.3
43.7% -2.8%
PSA 18.6 42.7 14.0
33.2 ### ###
Total Assembled
Vehicles Peugeot 160.0 409.2 161.1
403.1 0.7% -1.5% Citroën 109.9
278.8 105.1 271.7 ### ###
DS 9.3 24.2 9.9 25.1 6.5%
3.7% PSA 279.2 712.2
276.1 699.8 -1.1% -1.7%
1 Excluding China, including independent dealers.
2 At constant exchange rates (2015).
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For The PSA Group:Communications Division, +33 1 40 66 42
00www.groupe-psa.com@GroupePSAorMedia+33 (0)1 40 66 42 00
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