PARIS (dpa-AFX) - Groupe PSA reported that its first-quarter Group revenue was 17.98 billion euros, compared to 18.18 billion euros, prior year. Automotive division recorded revenue of 14.16 billion euros, down 1.8% year-on-year. Faurecia revenue slightly rose to 4.32 billion euros. Consolidated worldwide sales were down 15.7% in particular due to the suspension of the group's activities in Iran.
Looking ahead, the company said, over the 2019-2021 period, it targets to deliver over 4.5% Automotive recurring margin on an average.
Philippe de Rovira, CFO, said: « Groupe PSA remains fully focused on the execution of the Push to Pass strategic plan to deliver a high level of performance and to be a leading actor in the energy transition.'
Copyright RTT News/dpa-AFX
© 2019 AFX News
