Article By Kerr & Smith

Q1 2018 revenue sharp growth

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 divisionrevenue 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 vehicles[5] 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 margin[6] on average in 2016-2018, and target over 6% by 2021;
  • Deliver 10% Group revenue growth by 2018[7] vs 2015, and target additional 15% by 2021[7].

Financial Calendar

24 July 2018: 2018 interim results

24 October 2018: Third-quarter 2018 revenue

[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)