Click to Enlarge.
Groupe PSA says that Q1 revenue is down by -15.6% at €15.2 billion compared with €17,976 million in Q1 2019. In the Automotive division[1] revenue declined -15.7% at €11.9 billion because of a sharp volume drop partially offset by a stronger product mix. Globally, consolidated worldwide sales were down -29% with a total of 627,000 cars sold.
Philippe de Rovira, Chief Financial Officer of Groupe PSA said: “Having secured its liquidity and drastically cut its costs, the group now fully focuses on preparing the rebound in a chaotic economic environment”.
During 2020, the Group now anticipates a decrease of the automotive market by -25% in Europe, -10% in China, -25% in Latin America and -20% in Russia. PSA says the outlook is currently difficult to assess and will depend on the scale, duration, and geographic extent of the Covid-19 crisis, as well as the measures taken by the countries concerned.
Operational Viewpoint
Groupe PSA has set the target to deliver more than 4.5% Automotive adjusted operating margin[2] on average for the period 2019-2021.
Calendar
- 25 June 2020: 2020 General Meeting
- 28 July 2020: 2020 interim results
- 28 October 2020: Third-quarter 2020 revenue
Footnotes
[1] Automotive Division (PCDOV)
[2] Automotive Division (PCDOV) adjusted operating income related to revenue
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Groupe PSA Q1 2020 Revenue -15% at €15.2 Billion
Click to Enlarge.
Groupe PSA says that Q1 revenue is down by -15.6% at €15.2 billion compared with €17,976 million in Q1 2019. In the Automotive division[1] revenue declined -15.7% at €11.9 billion because of a sharp volume drop partially offset by a stronger product mix. Globally, consolidated worldwide sales were down -29% with a total of 627,000 cars sold.
Philippe de Rovira, Chief Financial Officer of Groupe PSA said: “Having secured its liquidity and drastically cut its costs, the group now fully focuses on preparing the rebound in a chaotic economic environment”.
During 2020, the Group now anticipates a decrease of the automotive market by -25% in Europe, -10% in China, -25% in Latin America and -20% in Russia. PSA says the outlook is currently difficult to assess and will depend on the scale, duration, and geographic extent of the Covid-19 crisis, as well as the measures taken by the countries concerned.
Operational Viewpoint
Groupe PSA has set the target to deliver more than 4.5% Automotive adjusted operating margin[2] on average for the period 2019-2021.
Calendar
Footnotes
[1] Automotive Division (PCDOV)
[2] Automotive Division (PCDOV) adjusted operating income related to revenue
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.