Groupe PSA 2018 Net Income Rises; Group Revenue Up 18.9% - Quick Facts

(RTTNews) - Groupe PSA reported fiscal 2018 net income, Group share, of 2.83 billion euros compared to 1.92 billion euros, in 2017. Group recurring operating income amounted to 5.69 billion euros, up 43% with PCD Automotive recurring operating income up 21.9% at 3.62 billion euros. Group recurring operating margin stood at 7.7%, up 1.3 point versus 2017.

Fiscal year Group revenue amounted to 74.03 billion euros in 2018, up 18.9% compared to 2017 and up 23.3% at constant 2015 exchange rates and perimeter. PCD Automotive division revenue amounted to 43.03 billion euros, up 5.6% versus 2017. OV Automotive division revenue amounted to 18.31 billion euros compared to 7.24 billion euros for the last 5 months of 2017. The Group recorded a 6.8% increase of Group sales at 3.88 million vehicles.

For the period 2019-2021 (including Opel Vauxhall), Groupe PSA now targets to: deliver over 4.5% Automotive recurring operating margin on average in 2019-2021.

A dividend of 0.78 euros per share will be submitted for approval at the next Shareholders' Meeting. Groupe PSA also announced a new dividend policy for 2019-2021 with a pay out ratio increased to 28% from fiscal 2019.

Carlos Tavares, Chairman of Groupe PSA Managing Board said: 'Peugeot Citroën DS has made significant progress for the 5th year in a row and is closing the first phase of the Push to Pass strategic plan with outstanding results. This demonstrates the ability of our Group to deliver a profitable and recurring growth. Opel Vauxhall has laid the foundations for a sustainable future with PACE! Plan and are eager to unleash further potential. We are now entering in the second phase of the Push to Pass plan with confidence in a context of even stronger headwinds. No doubt that our agile, customer focused and socially responsible approach will make the difference.'

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