Reporting "Asre Khodro " ,The PSA Group’s first quarter ۲۰۱۷ revenue amounted to €۱۳,۶۲۹ million, of which €۹,۰۱۸ million for the Automotive division and €۵,۰۹۲ million for Faurecia. The Group’s revenue grew by ۴.۹% compared with Q۱ ۲۰۱۶. Automotive division revenue grew by ۲.۵%, mainly driven by the product mix improvement (+۳.۷%), linked to the success of recently launched models, that more than compensated the negative impact of exchange rates (-۱.۰%).
At the end of March ۲۰۱۷, inventories were slightly up at ۳۹۰,۰۰۰ vehicles .
Jean-Baptiste de Chatillon, Chief Financial Officer of the PSA Group and member of the Managing Board, said: ” The success of our profitable organic growth plan ‘Push to Pass’ is confirmed by our recent launches and the acceleration of our international development. Despite an ever volatile and uncertain economic environment, our agility is more than ever a competitive advantage for achieving our growth and profitability objectives. ”
Market outlook
In ۲۰۱۷, the Group expects the automotive market to grow by approximately ۱% in Europe and ۲% in Latin America. The market should also grow by ۵% in China and remain stable in Russia.
Operational outlook: the objectives of the Push to Pass plan are to:
deliver over ۴.۵% Automotive Recurring Operating Margin on average in ۲۰۱۶-۲۰۱۸, and target over ۶% by ۲۰۲۱;
deliver ۱۰% Group revenue growth by ۲۰۱۸۳ vs ۲۰۱۵, and target additional ۱۵% by ۲۰۲۱۳.
Link to the presentation of Q۱ ۲۰۱۷ revenue.
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