PSA Peugeot Citroën recorded in the first half its first profit since 2011 but refuses to claim victory before the end of the year – Philippe Huguen AFP

20 Minutes with agencies

    • Published
    • Updated
  • Keywords

More ‘s a year after the launch of its plan to return to profitability (1) the manufacturer PSA Peugeot Citroën recorded in the first half 2015 its first profit since 2011. In total, of 571 million euros Net earnings were generated in these first six months, while the loss was $ 114 million in the same period last year.

A turnover that rose by 6 9%

A recovery which followed the arrival of Carlos Tavares, former number two at Renault, at its head and the opening of the capital of the family business to the Chinese Dongfeng and the French state. Beyond profit, turnover rose by 6.9% compared to last year, reaching 28.9 billion euros, 19.4 billion for the automotive division. The Current operating profit of the group, key indicator of builder performance is also part in this improving trend, rising to 1.4 billion euros against 387 million euros a year earlier .

Despite the good numbers, caution is

In a statement, the group says that this growth is due to “the increase of net prices, product mix [or range of vehicles] and a positive impact of favorable exchange rate. ” However, if these “results (are) very positive,” praised Carlos Tavares, you have the ‘rate on a full year. ” “We remain measured because the first half is also supported by a favorable environment,” detailed Wednesday in a conference call, CFO of PSA, Jean-Baptiste de Chatillon.

Despite these positive results PSA does not shout victory, however. “The day when we will announce the plan Back in the race is over, because we have achieved the objectives, within three months, we will present our profitable growth plans for the future,” said Carlos Tavares.

(1) As a reminder, the manufacturer has undertaken since April 2014 in a broad strategic plan for returning to profitability, called Back in the race. Among the main areas of the project is the reduction of number of models, the international development and the drawing of a savings plan, aiming to achieve a cash flow here 2016.