Despite the corona crisis, PSA Groupe still managed to write positive figures for the first half of 2020.
The car manufacturers are hit hard by the crisis and of course PSA Groupe is not left out. The group, parent company of Peugeot, Citroën and Opel, among others, saw a sharp drop in turnover. 34.5 percent went off across the entire group; it came to EUR 25.1 billion. The biggest cause, how could it be otherwise, was the sales drop of 40.5 percent.
However, at PSA they will be especially happy with what is still left at the bottom of the line. In the first half of 2020, net 595 million euros remained on the bow. More than twice as little as last year in the first six months, but at least no red numbers. PSA also has a financial basis of EUR 23.2 billion. For the time being, the group will therefore be fine. There is therefore absolutely no question of falling over or the need for government loans, as is the case with competitor Renault.
Nevertheless, PSA also knows that 2020 will cut quite nicely. Overall, the group expects 25 percent less sales in Europe, 30 percent in Russia and 10 percent in China. Nevertheless, PSA Groupe is betting on a profit margin of 4.5 percent over the period 2019-2021.