Mexican Media Brands
PSA Posts First-Half Net Profit
PSA Peugeot Citroen swung to consolidated net income of €720 million in the first half of 2015 from a €42 million loss in the same period last year.
#economics
Share
PSA Peugeot Citroen swung to consolidated net income of €720 million in the first half of 2015 from a €42 million loss in the same period last year. It was the carmaker's first profitable January-June since 2011.
PSA's operating income for the period climbed to €1.4 billion from €1.0 billion. Consolidated net revenue rose 7% to €28.9 billion.
Operating revenue generated by the group's automotive unit grew 4% to €19 billion in the first, backed by a richer sales mix and favorable currency exchange. The unit's recurring operating earnings surged to €975 million from €7 million in the same period last year.
PSA reiterates that is aims to generate free cash flow of about €2 billion in 2015-2017 and reach a 2% operating margin for its automotive operations in 2018.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.