PSA has reported full-year 2017 net income up 11.5% to EUR1.93bn (US$2.4bn), while Group revenue increased 21% to EUR65.2bn.
“Peugeot Citroën DS outstanding results, making significant progress for the fourth year in a row, are the proof of our ability to deliver profitable and sustainable growth,” said PSA chairman, Carlos Tavares.
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“Our agile, customer focused and socially responsible approach is making the difference. The acquisition of Opel Vauxhall is a great opportunity to boost value creation.”
Consolidated net income reached EUR2.4bn, up EUR209m compared to 2016.
PSA maintains its Opel Vauxhall turnaround plan presented on 9 November is delivering its “first concrete achievements” such as a joint purchasing organisation, social agreements and costs savings.
in 2018, the Group anticipates a stable automotive market in Europe and growth of 4% in Latin America, 10% in Russia and 2% in China.
