PSA teki voittoa koronasta huolimatta.
Groupe PSA remains profitable in H1 2020 despite Covid €25.1 billion Group revenue 3.7%
Automotive division1 adjusted operating margin 2 at €731 million
Net result group share at €595 million
€153 million Automotive positive free cash flow excluding working capital
Strong financial security at €23.2 billion.
Carlos Tavares, Chairman of Groupe PSA Managing Board said: “This H1 result proves the Group’s resilience, as a reward of 6 consecutive years of intense work to increase our agility and lower our breakeven point. The Group is also weathering this crisis thanks to the commitment of the teams, focused to deliver a clean, safe and affordable mobility for our customers. We are determined to achieve solid rebound in the second half of the year, while finalizing the birth of Stellantis before the end of Q1 2021.” Group revenue amounted to €25,120 million in H1 2020, down by 34.5% compared to H1 2019. Automotive division revenue amounted to €19,595 million down by 35.5% versus H1 2019, mainly driven by the negative impact of volumes and country mix (-40.5%), the decrease of sales to partners (-0.5%) and the impact of exchange rates (-0,6%) ; conversely, revenues benefited from the positive effect of product mix (+3.4%) and price (+0.4%), as well as others (+2.3%). Group adjusted operating income3 amounted to €517 million, down 84.5% with Automotive adjusted operating income down 72.5% at €731 million. This 3.7% profitability level was reached despite the sharp decline of automotive markets and thanks to a positive product mix and cost reductions. Group adjusted operating margin reached 2.1%, down 6.6 pts versus H1 2019. Other operating income and expenses amounted to -€35 million, compared to -€847 million in H1 2019. Group net financial income and expenses improved to €52 million compared to -€166 million in H1 2019. Consolidated net income reached €376 million, a decrease of €1,672 million compared to H1 2019. Net income, Group share, reached €595 million, down €1,237 million compared to H1 2019. Banque PSA Finance reported adjusted operating income of €463 million4, down 9.7%. Faurecia adjusted operating income was a loss at -€159 million. The free cash flow of manufacturing and sales companies was -€4,704 million of which -€3,601 million for the Automotive division. Automotive free cash flow was positive at €153 million excluding working capital.
Lue sama teksti paljon selkeämmin jaoteltuna täältä:
https://www.groupe-psa.com/en/newsroom/corporate-en/2020-h1-results/
