​Groupe PSA achieved a new profitability record in 2019

•  €4.7 billion Group revenue up 1%
•  8.5% Group adjusted operating margin at €.3 billion
•  8.5% Automotive division2 adjusted operating margin up 0.9 pt at €.0 billion
•  Record net result Group share at €.2 billion
•  €.3 billion Automotive division free cash flow
•  PACE! plan target achieved with Opel Vauxhall 6.5% adjusted operating margin

[See the press release]

 
•  Combines companies’ extensive and growing capabilities to address the challenge of shaping the new era of sustainable mobility
• Combined company will be the 4^th largest global OEM by volume and 3^rd largest by revenue with annual sales of 8.7 million units and combined revenues of nearly €170 billion
• Creates a diversified business with among the highest margins in its core markets of Europe, North America and Latin America and the opportunity to reshape the strategy in other regions
• Merger will deliver approximately €3.7 billion estimated annual run-rate synergies with no plant closures resulting from the transaction – synergies are expected to be net cash flow positive from year 1
• Strong combined balance sheet and high level of liquidity provide financial flexibility with an investment grade credit rating expected
• Combined company will leverage investment efficiency across a larger scale to develop innovative mobility solutions and cutting edge technologies in new energy vehicles, autonomous driving and connectivity
• Broad portfolio of well-established iconic brands offering best-in-class products covering key vehicle market segments and delivering higher customer satisfaction
• Excellent working relationship between the two management teams, which share successful track records in turnarounds, value creation and successful OEM combinations
• Strong governance structure to underpin combined company performance with John Elkann as Group Chairman and Carlos Tavares as Group CEO, with a majority of independent directors
• Strong support of long-term shareholders (EXOR N.V., Peugeot Family Group, Bpifrance) who will be represented on the Board

[Read the press release]