Groupe PSA: Q1 2018 Revenue Sharp Growth

  • Consolidated worldwide sales up 44.2% including Opel Vauxhall (OV) with over 1 million vehicles sold1 ;
  • Groupe PSA revenue up 42.1% at €18.2 billion2 ;
  • Peugeot Citroën DS (PCD) Automotive division revenue up 13.3% :
    • Strong market share increase in Europe (+0.7 pt)3 ;
    • Successful launches of new models in all regions.
  • OV Automotive division revenue amounted to €4.8 billion ;
  • Expansion of international footprint: partnerships signed in Algeria, Namibia, Malaysia and China.

RUEIL-MALMAISON, France--()--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** Peugeot
Citroën

DS
PCD

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 *** Peugeot
Citroën

DS
PCD

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 Peugeot
Citroën

DS
PCD

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 Peugeot
Citroën

DS
PCD

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 Peugeot
Citroën

DS
PCD

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 Peugeot
Citroën

DS
PCD

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 Peugeot
Citroën

DS
PCD

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)

Contacts

Media contact:
Karine Douet, +33 6 61 64 03 83
karine.douet@mpsa.com

Contacts

Media contact:
Karine Douet, +33 6 61 64 03 83
karine.douet@mpsa.com