Markets

Groupe PSA Q3 Revenue Edges Up; FY19 Outlook Unchanged - Quick Facts

(RTTNews) - Groupe PSA (PEUGF.PK), the owner of Peugeot and Opel brands, reported Wednesday that its third-quarter revenue increased 1 percent to 15.58 billion euros from last year's 15.43 billion euros.

Automotive division revenue amounted to 11.82 billion euros, up 0.1 percent from last year. The company noted that a strong product mix as well as positive price conditions more than offset the decrease of sales to partners, the negative impact of exchange rates including hyperinflation in Argentina as well as volumes and country mix.

The company sold 674,000 cars in the world in the quarter.

Faurecia revenue was up 4.3 percent at 4.19 billion euros.

Looking ahead, Groupe PSA continues to expect to deliver over 4.5 percent Automotive recurring operating margin on average for the period 2019-2021.

In 2019, the Group anticipates a decrease by 1 percent of the automotive market in Europe, by 5 percent in Latin America, by 7 percent in China and by 2 percent in Russia.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.