Daily News Egypt

40.1% growth in H1 2018 of PSA revenue, up to €38.6bn PSA business results - Daily News Egypt

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40.1% growth in H1 2018 of PSA revenue, up to €38.6bn PSA business results

Group’s sales in 2017 included 2.4m vehicles in Europe

Daily News Egypt participated in the semi-annual press conference of the PSA Group, which currently owns Peugeot, Citroen, Opel, Vauxhall, and Faurecia, to announce the group’s revenue and plans.

The conference was chaired by Carlos Tavares, CEO of the PSA, and Jean-Baptiste de Chatillon, CFO of the group.

The conference was broadcasted on the internet with interactive technology that allows press to ask questions from another country.

During the conference, the group announced its revenue in 2017, scoring €65.2bn ($76.1bn), to rank the second among the European automakers, thanks to efforts of 212,000 employees in all branches of the company around the world.

The group’s sales in 2017 included 2.4m vehicles in Europe, 619,000 in the Middle East and Africa (MENA), 206,000 in Latin America, 26,000 in India and the Pacific area, and 15,000 in Eurasia.

The group’s revenue amounted to €38.6m in the first half (H1) of 2018, up 40.1% compared to H1 2017.

PSA Group has allocated large investments in MENA in order to enhance its presence in this region.

The group aims to increase its sales from 5.9m cars in 2016 to more than 8m in 2025.

Opel, owned by PSA Group, achieved sales of 2,166 cars during the first five months of the year in Egypt, while Peugeot and Citroen did not disclose the size of their sales during that period.

Topics: PSA business

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