PSA Peugeot Citroen revenue rose 6.9% to EUR28,904m in the first half of 2015 with automotive division revenue up 4.3% to EUR19,409m.
PSA said good prices, a “positive product mix” and favourable currency rates helped.
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Operating income was EUR1,424m compared with EUR387m in H1 2014. Most growth was courtesy the automotive division with a EUR968m improvement.
Expenses of EUR342m in the first half of the year were due mainly to automotive division restructuring.
Net income was EUR720m, returning PSA to the black by EUR762m.
In 2015 the group expects automotive demand to expand by 6% in Europe and approximately 3% in China but to contract by around 15% in Latin America and 35% in Russia.
“Our first half results are very positive but we need to review them on a full-year basis,” said PSA chairman Carlos Tavares. “In this unstable international environment, the company and its staff – whom I thank wholeheartedly – must all be focused on the full execution of the ‘Back in the Race’ plan in order to secure the group’s recovery.”
