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

AutoInformed.com on Groupe PSA Q1 2020 Global Sales

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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

About Ken Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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