Groupe PSA: Q3 2018 Group revenue +7.8% growth

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October 24, 2018 1:45 PM EDT
  • Groupe PSA Q3 revenue at €15.4 billion1 and YTD revenue up 29.1% at €54 billion;
  • Peugeot Citroën DS (PCD) Automotive division revenue up 0.8%:
    • Strong market share increase in Europe: +0.7 pt2;
    • Negative impact of exchange rates especially in Argentina, Brazil and Turkey;
  • Opel Vauxhall (OV) Automotive division revenue amounted to €3.9 billion;
  • Consolidated worldwide sales down 16.7% mainly because of the suspension of the group’s activities in Iran. In Europe, sales up 8.1%.

RUEIL-MALMAISON, France--(BUSINESS WIRE)-- Regulatory News:

Groupe PSA (Paris: UG):

Group Q3 2018 revenue amounted to €15,428 million, compared with €14,309 million in Q3 2017. At constant 2015 exchange rate and perimeter, 2018 Group revenue was up 21.6%1.

PCD Automotive division revenue amounted to €8,485 million up by 0.8% compared to Q3 2017. The positive impact of product mix (+2.2%), sales to partners (+1.4%), price (+1.5%) and others (+0.9%) more than compensated the negative impact of exchange rates (-2.3%) and volumes (-2.9%).

OV Automotive division revenue amounted to €3,877 million in Q3 2018, compared with €2,789 million in Q3 20171.

With a total of 703,000 cars sold, Q3 2018 consolidated worldwide sales were up in Europe but down outside of Europe mainly because of the suspension of the group’s activities in Iran from May.

Total PCD inventory, including independent dealers, stood at 402,000 vehicles2 at the end of September 2018, up 33,000 units compared to end of September 2017. OV inventory, including independent dealers, totalled 173,000 vehicles at the end of September 2018 down 64,000 units compared to end of September 2017.

Philippe de Rovira, Chief Financial Officer of Groupe PSA and member of the Executive Committee, said: « The execution of Push to Pass strategic plan and PACE! Opel Vauxhall turnaround plan is again proving to be a strong lever to deliver a sustainable performance despite an adverse environment. »

Market outlook: in 2018, the Group anticipates a growth of 2% of the automotive market in Europe, 3% in Latin America, 10% in Russia and 1% 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 margin3 on average in 2016-2018, and target over 6% by 2021;

- Deliver 10% Group revenue growth by 20181 vs 2015, and target additional 15% by 20216.

Link to the presentation of Q3 2018 revenue.

Financial Calendar

26 February 2019: 2018 Annual Results

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..

Media library: medialibrary.groupe-psa.com / @GroupePSA_EN

Attachments

     

Revenue YTD September 2018 versus YTD September 2017

             
In million Euros   9M 2017   9M 2018   Change
Automotive – Peugeot Citroen DS   28,306   30,634   +2,328
Automotive – Opel Vauxhall *   2,789   13,823   +11,034
Faurecia **   12,334   13,005   +671
Other businesses and eliminations ***   (1,568)   (3,439)   -1,871
Group Revenue   41,861   54,023   +12,162
 
 

Revenue Q3 2018 versus Q3 2017

             
In million Euros   Q3 2017   Q3 2018   Change
Automotive – Peugeot Citroen DS   8,419   8,485   +66
Automotive – Opel Vauxhall *   2,789   3,877   +1,088
Faurecia **   3,789   4,014   +225
Other businesses and eliminations ***   (688)   (948)   -260
Group Revenue   14,309   15,428   +1,119
     

* Since Opel Vauxhall acquisition on 1st August 2017
** IFRS15 application with 2017 restated (excluding essentially monoliths)
*** Including remaining activities of Banque PSA Finance

 

Q3 2018 Consolidated Worldwide Sales

                                                 
Consolidated World Sales Q3 2017 9M Q3 2018 9M Δ 18/17 Δ 18/17

Estimates (in thousands)*

2017 2018 Q3 9M
                                                     

Europe**

Peugeot 225,5 825,4 228,9 879,0 1,5% 6,5%
Citroën 147,8 561,4 146,8 591,1 -0,6% 5,3%
DS 9,0 31,7 6,4 34,8 -28,8% 9,7%
PCD 382,3 1 418,4 382,2 1 504,9 0,0% 6,1%
Opel Vauxhall 158,4 158,4 202,4 753,4 27,8% 375,5%

 

  PCD+OV       540,8       1 576,8       584,6       2 258,3       8,1%       43,2%

Middle East - Africa***

Peugeot 131,0 379,4 12,7 198,4 -90,3% -47,7%
Citroën 12,8 41,4 6,5 26,4 -49,2% -36,2%
DS 0,3 1,2 0,4 1,0 32,1% -14,8%
PCD 144,1 422,0 19,6 225,8 -86,4% -46,5%
Opel Vauxhall 6,4 6,4 4,3 24,2 -33,0% 277,0%

 

  PCD+OV       150,5       428,4       23,9       250,0       -84,1%       -41,6%
China - South East Asia Peugeot 58,1 161,3 25,1 116,2 -56,8% -28,0%
Citroën 30,2 76,3 22,6 91,9 -25,3% 20,5%
DS 1,3 4,4 1,4 3,4 6,6% -23,0%
PCD 89,6 242,0 49,0 211,5 -45,3% -12,6%
Opel Vauxhall 0,2 0,2 0,0 0,5 -98,7% 226,0%

 

  PCD+OV       89,8       242,2       49,0       212,0       -45,4%       -12,5%
Latin America Peugeot 35,0 97,4 23,4 87,8 -33,0% -9,9%
Citroën 17,1 50,3 11,7 44,4 -31,6% -11,7%
DS 0,4 1,0 0,2 0,7 -50,4% -36,5%
PCD 52,4 148,8 35,3 132,9 -32,7% -10,7%
Opel Vauxhall 0,0 0,0 0,3 0,7 NS NS

 

  PCD+OV       52,4       148,8       35,6       133,6       -32,1%       -10,2%
India - Pacific Peugeot 4,2 11,9 4,4 14,4 4,4% 21,5%
Citroën 1,6 4,1 1,2 4,2 -25,3% 2,6%
DS 0,1 0,6 0,2 0,5 40,3% -22,0%
PCD 6,0 16,6 5,8 19,1 -2,5% 15,2%
Opel Vauxhall 0,0 0,0 0,0 0,0 NS NS

 

  PCD+OV       6,0       16,6       5,8       19,1       -2,5%       15,2%
Eurasia Peugeot 1,9 5,7 1,9 6,3 0,9% 10,6%
Citroën 1,5 4,2 1,4 4,5 -8,2% 8,5%
DS 0,0 0,1 0,0 0,0 -82,6% -50,0%
PCD 3,4 9,9 3,3 10,9 -3,7% 9,3%
Opel Vauxhall 0,1 0,1 0,1 0,2 -48,0% 58,0%

 

  PCD+OV       3,5       10,0       3,3       11,0       -5,0%       10,0%
Total Consolidated World Sales Peugeot 455,8 1 481,1 296,5 1 302,2 -34,9% -12,1%
Citroën 210,9 737,6 190,1 762,6 -9,9% 3,4%
DS 11,2 39,1 8,6 40,4 -22,9% 3,4%
PCD 677,8 2 257,8 495,2 2 105,2 -26,9% -6,8%
Opel Vauxhall 165,1 165,1 207,1 778,9 25,4% 371,8%

 

  PCD+OV       842,9       2 422,9       702,3       2 884,1       -16,7%       19,0%
 

* Assembled vehicles, CKDs and vehicles under License
** Europe = EU + EFTA + Albania + Croatia + Kosovo + Macedonia + Serbia
*** including 141 kunits sold in 2018 under Peugeot license by Iran Khodro until 30th of April 2018.

1 Groupe PSA revenue includes Opel Vauxhall (OV) since August 1st 2017; It does not include the impact of hyperinflation in Argentina following IAS29. The estimation of this impact is in progress.
2 PCD market share, Q3 2018 vs Q3 2017
3 As of 30 September 2018, growth at constant exchange rates (2015) and perimeter (excluding OV) versus revenue as of 30 September 2015.
4 Excluding JV in China and Iran, including independent dealers
5 Recurring operating income related to revenue
6 At constant (2015) exchange rates and perimeter (excluding OV)

Groupe PSA
Media: Karine Douet, +33 6 61 64 03 83
[email protected]
or
Communications Division, +33 6 61 93 29 36
www.groupe-psa.com/en
@GroupePSA_EN

Source: Groupe PSA


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