Groupe PSA Q1 2020 Revenue -15% at €15.2 Billion

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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