AM Online

PSA Peugeot Citroen sales stable

PSA Peugeot Citroen’s net sales and revenue for 2005 totalled €56,267 million (£38,617m), an increase of 0.3% over the previous year’s €56,105m (£38,503m).

The French manufacturing group sold 3,390,000 cars, up 0.4% from 3,375,300 units in 2004.

Worldwide production was reduced to 3,375,500 units in 2005 compared to 3,405,100 in 2004.

Its operating margin amounted to €916m (£629m) compared with €1,503m (£1,031m) in 2004.

PSA said: “The decrease reflected the decline in group unit sales and output in an aggressive promotional environment in Europe, the sharp increase in raw materials prices, the cost of Euro IV compliance and the impact of IFRS adjustments - all of which combined to offset the sustained reduction in production costs and the positive currency effect.”

PSA said it expects demand to remain flat in western Europe. It also predicted its financial performance will be ‘adversely affected’ by increasing costs. The group estimates that operating margin will be similar to the second-half 2005 figure in the first half of 2006, before showing an improvement in the second six months of the year.

Number of vehicles 2004 2005
Worldwide unit sales 3,375,300 3,390,000
Worldwide production 3,405,100 3,375,500
In millions of euros 2004 2005
Operating margins 2,481 1,940
Profit before tax and share in net earnings of companies at equity 2,439 1,530
Consolidated profit for the year 1,680 990
Consolidated financial highlights

In millions of euros 2004 2005
Operating margins 2,481 1,940
Profit before tax and share in net earnings of companies at equity 2,439 1,530
Consolidated profit for the year 1,680 990

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.