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The group scores a triple growth for the third consecutive year:

-Growth in the operating margin of the Automobile Division by 6%[1]compared to 5% in 2015

-Volume growth: 3.15 million sold vehicles[2], resulting in an increase of +5,8%

-Net financial position growth thanks to a positive 2.7 billion euros Free Cash Flow[3]in 2016

The Group is achieving its medium-term operational objectives.

And for the first time since 2011[4], a dividend payment of € 0.48 per share will be submitted to vote in the next General Assembly meeting.

Carlos Tavares, the PSA Group Executive Board Chairman, proclaims: “These results demonstrate our ability to consistently achieve excellent performance in an adverse environment. It’s the fruit of the work on improving the company’s operational efficiency and the competitive teams’ concentration on the Push to Pass plan execution. The Group is building daily conditions for profitable and sustainable growth, reinforced by the success of its first offensive product launches.”

The Group’s turnover is established at 54 030 M€ in 2016, against 54 676 M€ in 2015.

The Automobile Division’s turnover is established at 37 066 M€ in 2016 against 37 514 M€ in 2015. At constant load rate, they grew by 2.1% and 2.7% respectively, thanks to the success of the recently launched models, in particular, and the pricing power strategy.

Net of unfavorable foreign currency developments, these figures are decreased by -1.2%.

The Group’s Recurring Operating Income amounts to 3,235 M€ which increased by 18% compared to 2015. The Automotive Recurring Operating Income amounts to 2 225 M€ and increased by 19% compared to 2015. In a context of unfavorable exchange rates, this growth is driven by the increase in volumes, the price and positive mix effect, as well as the production and fixed costs reduction.

The Group’s non-Recurring Operating Income and expenses are of -624 M € compared to -757 M € in 2015.

The Group’s net financial expenses amount to -268M€, compared to -642M€ in 2015.

The Group’s Consolidated Net Income has increased by 947 M€ and established at 2 149 M€. The Group’s net income is of 1,730 M€ compared to 899 M€ in 2015.

The Recurring Operating Income of Banque PSA Finance is of 571M€[5], which increased by 11% compared to 2015.

Faurecia Recurring Operating Income is established at 970 M€, which increased by 17 % compared to 2015.

The Free Cash Flow for Industrial and Commercial Activities is established at 2 698 M€.

At the end of December 2016, the stock counted 406,000 vehicles (Including the independent network), scoring an increase of 56,000 vehicles compared to the end of 2015.

The Net Financial Position for Industrial and Commercial Activities amounts to 6 813 M€ on December 31st ,2016, compared to 4,560M€ on December 31st, 2015.

A dividend of 0.48€ per share will be submitted to vote in the next General Assembly meeting. The ex-dividend date is fixed on 15 Mai 2017, and the dividend payment will be on Mai 17th, 2017.

Market Outlook

In 2017, the Group expects a stable automotive market in Europe, Latin America and Russia and a +5% increase in China.

Operational objectives identified

The new Push to Pass plan objectives are:

- an average operating margin[6] of more than 4.5% for the Automobile Division over the period 2016-2018 and a 6% target in 2021;

- a 10% increase in the Group turnover between 2015 and 2018, targeting an additional 15% by 2021[7].

The consolidated accounts of the PSA Group up to December 31st, 2016 were approved by the Management Board on February 16th 2017 and reviewed by the Supervisory Board on February 22nd, 2017. The Group’s Auditors have carried out their audit on the accounts and the report on the consolidated accounts is being issued. The annual income report as well as the 2016 income presentation are available on the Group’s website ( in the « Finance » section.


[1] Recurring Operating Income added to the Turnover

[2] Of which 233,000 vehicles produced in Iran under Peugeot license in 2016 following the final joint venture agreement signed with Iran Khodro on 21 June 2016

[3] Industrial and Commercial Activities

[4] Dividend for the year 2010, paid on 7 June 2011.

[5] 100% of Banque PSA Finance  result. In the PSA Group accounts, Joint ventures are consolidated by the equity method and the other activities covered by the agreement with Santander are reclassified under “Activities intended to be sold or acquired in partnership “.

[6] Recurring Operating Income reported to the turnover

[7] At constant exchange rates (2015)

More information in this document: resultats_financiers_PSA_2016_FR