Q1 2018 revenue sharp growth

Tue, 24/04/2018 - 07:30

• 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.

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


  1Groupe PSA worldwide consolidated sales include Opel Vauxhall (OV) sales since August 1st 2017
  2Groupe PSA revenue includes Opel Vauxhall (OV) since August 1st 2017
  3PCD market share, Q1 2018 vs Q1 2017
  4As of 31 March 2018, growth at constant exchange rates (2015) and perimeter (excluding OV) versus revenue as of 31 March 2015.
  5Excluding JV in China and Iran, including independent dealers
  6Recurring operating income related to revenue
  7At constant (2015) exchange rates and perimeter (excluding OV)