Daily Management Review

PSA Group net profit goes up to 13% in 2019


Net profit of the French automobile concern Groupе PSA attributable to shareholders of the parent company, according to the results of last year, amounted to €3.201 billion, an increase of 13% compared to 2018, the company said in a press release.

Diluted earnings per share in the reporting period amounted to €3.4 against €3.01 a year earlier. Revenues for the reporting year increased by 1% - to €74.731 billion. In January, the company reported that it had sold 3.489 million cars at the end of the year, which is 10% less than a year ago.

The growth in revenue for the year was supported by the product range (by 4.3%) and prices (by 1.2%), which was partially offset by a decrease in sales to partners (by 1.7%), a negative exchange rate effect (by 0.5%), as well as sales and assortment by country (2.4%) and other reasons.

The company expects the car market to decline by 3% in Europe in 2020, but will remain stable in Latin America.

PSA (formerly PSA Peugeot Citroen) is Europe's second largest car manufacturer after Volkswagen AG. The headquarters is located in Paris. It was formed by the acquisition by Peugeot of a 90% stake in Citroen in 1976.

source: reuters.com