PSA Peugeot Citroen ended 2016 with net profits up 79%, to 2,15 billion euro, while i revenues they dropped 4,1% to $56,3 billion after the sale of assets in the Faurecia division. Global sales climbed 5,8% to 3,15 million units. This was communicated by the French manufacturer, which for 2016 will propose a dividend from €0,48 per share. It's the first in six years.
PSA, which also counts the French state among its shareholders, has revised the shares slightly upwards medium-term financial goals forecasting an operating margin above 4,5% for the Auto division in the period 2016-2018, compared to the previous 4%.
“These results demonstrate our ability to achieve excellent performance in a hostile environment,” commented CEO Carlos Tavares. The French house is in negotiations with the American General Motors to take over the German Opel, but in the press release on the 2016 results Peugeot does not mention the progress of the negotiations.
According to the German newspaper Faz (Frankfurter Allgemeine Zeitung) the operation could be announced in first week of March, before the Geneva Motor Show, which will open its doors on 6 March to operators and the press.
Meanwhile, the governments of Germany and France have expressed a favorable opinion on the possible purchase: “There is absolute equality of views” on the issue, said the French Economy Minister, Michel Sapin, following a meeting with his German counterpart, Brigitte Zypries.
