PSA Groupe figures for Q3 2017 indicate strong growth
In a press statement, Groupe PSA, the industrial giant behind Peugeot, Citroën, DS and (now also) Opel Vauxhall, announced that the group revenue is up 31,4% to a total of 15 billion euros in the third quarter of 2017.
Whitin the group total, the “PCD”-automotive division, consisting of Peugeot, Citroën and DS saw its revenue climb 11,6%, with a worldwide market share increase.
The Q3 figures are also the first ever to consolidate the Opel Vauxhall Automotive Divison named “OV”. The OV revenue amounted to 2,8 billion euros.
Group results
The Group’s Q3 2017 revenue amounted to €14.988 million, which is significantly more than the Q3 2016 figure of 11.404 million euros.
In the first nine months of the year, the total Group revenue reached 44.153 million euros, compared with 39.183 million in 2016, up 12.7%. At constant 2015 exchange rate and perimeter, 2017 Group cumulated revenue was up 9.0%.
Peugeot, Citroën, DS and for the first time also Opel Vauxhall
The PCD Automotive division revenue amounted to 8.418 million euros, or 11.6% more than in the third quarter of 2016. This increase was mainly driven by the success of the Group’s new models (Peugeot 3008, 5008, Expert and Traveller, Citroën C3, C3 Aircross, C5 Aircross, Jumpy and SpaceTourer).
For the first time, PSA also published results for Opel Vauxhall. The OV Automotive division revenue amounted to 2.789 million euros for the two months of August and September that were consolidated.
Worldwide sales up by almost 24%
PSA Groupe’s Q3 consolidated worldwide sales as well as market share were up in all regions (Europe, Middle East Africa, Latin America, Eurasia and India Pacific) except in China. Including volumes of Opel Vauxhall, sales were up by 23.8% in the third quarter of 2017 versus the same period last year.
Jean-Baptiste de Chatillon, Chief Financial Officer of Groupe PSA and member of the Managing Board, said: “The Groupe PSA and more specifically PCD is now combining strong growth with its price and cost discipline. This is key for achieving the challenges ahead of us in an ever so uncertain economic environment.”
Market outlook and Operational Targets
For 2017, PSA expects the automotive market to grow by approximatively 3% in Europe, 5% in China, 7% in Latin America and 8% in Russia.
The Push to Pass plan targets that Groupe PSA (excluding Opel Vauxhall) is to deliver over 4.5% Automotive recurring operating margin on average in 2016-2018, and over 6% by 2021, and to deliver a 10% Group revenue growth by 2018 vs 2015, targeting an additional 15% by 2021.
