Stellantis N.v. · EURONEXT:STLAP
Stellantis — PSA Peugeot Citroën — Q1 2011 Earnings Presentation
21 slides from Stellantis's earnings presentation, Apr 20, 2011
Slide 1: Q1 2011 Revenues
Q1 2011 REVENUES April 20, 2011
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding the Company’s results or any other performance indicator, but rather trends or targets, as the case may be. These statements are by their nature subject to risks and uncert
Slide 3: Q1 2011 Highlights
Q1 2011 Highlights • Consolidated revenues up 10.2% vs Q1 2010 with Automotive Division revenues up 6.0% • Globalization on track: sales volume outside Europe at 38% (33% in Q1 2010), progress in China, Latin America and Russia ► China: first dividend payment by DPCA of MRMB589 approved on 8 April •
Slide 4: Q1 2011 revenues: +10.2%
Q1 2011 revenues: +10.2% All divisions contributing to the increase In million euros Q1-10 Q1-11 ∆ Automotive 10 619 11 262 +6.0% Faurecia* 3 202 3 963 +23.7% Gefco 842 977 +16.1% Banque PSA Finance 457 470 +2.8% Other businesses and (1 135) (1 258) - intra-company eliminations Total revenues 13 986
Slide 5: Market trends: strong growth outside Europe
Market trends: strong growth outside Europe Cars and light commercial vehicles – Market evolution Q1-11 Europe -0.9% China +12.8% Latin America +10.0% Russia +76.6% 2011 First Quarter Revenues – April 20, 2011 5
Slide 6: Europe: consolidation in market share
Europe: consolidation in market share 14.2% 14.1% 13.7% 13.5% Market share momentum in Europe 30 2008 2009 2010 Q1 2011 2011 First Quarter Revenues – April 20, 2011 6
Slide 7: Outside Europe: good performance in all markets
Outside Europe: good performance in all markets Cars and light commercial vehicles – Market share Q1 2010 Q1 2011 Q1 2010 Q1 2011 Q1 2010 Q1 2011 6.0% 5.3% 3.1% 3.1% 2.8% 2.7% China* Latin America Russia * Only cars 2011 First Quarter Revenues – April 20, 2011 7
Slide 8: Globalization on track
Globalization on track > Sales volumes outside Europe at 38% vs 33% in Q1 2010 -3.5% +15% +16% 111 200 107 300 102 600 +95% 89 100 69 600 60 000 15 600 8 000 Q1 2010 Q1 2011 Q1 2010 Q1 2011 Q1 2010 Q1 2011 Q1 2010 Q1 2011 China Latin America Russia CKD 2011 First Quarter Revenues – April 20, 2011 8
Slide 9: Automotive: worldwide unit sales up 0.8%
Automotive: worldwide unit sales up 0.8%, driven by emerging countries Assembled vehicles and CKD units In K units Q1-10 Q1-11 ∆ Europe 609 575 -5.6% Russia 8 16 +94.6% Latin America 60 70 +16.1% Rest of the world 36 51 +40.7% Assembled vehicles (excluding China) 714 712 -0.3% China 89 103 +15.1% To
Slide 10: New model momentum (1/2)
New model momentum (1/2) 2010 PEUGEOT RCZ • Leader in Europe on its segment • 17 000 units sold in 2010, 5 000 units in Q1 2011 • 40% new customers CITROËN DS3 • 65 000 units sold in 2010, 20 000 units in Q1 2011 • Average price of €19 000 vs €16 000 for C3 CITROËN C4 • C4 & new C4: +31% units vs Q1
Slide 11: New model momentum (2/2)
New model momentum (2/2) Q1-09 Q1-10 Q1-11 C&D segments 36% 39% 41% A&B segments 48% 44% 41% of which distinctive models (DS4 & DS5 to come in 2011 after Q1) 2% 7% 9% • Average age: ► 3.0 years PSA range average age (private cars) • LCV: ► Upturn in the European light commercial vehicle market confi
Slide 12: Maintaining a step ahead in CO2
Maintaining a step ahead in CO2 • Deploying new technologies designed to deliver powerful breakthroughs in reducing CO2 emissions ► Deployment of the second generation of Stop & Start: e-HDi on 508, 308, C3, DS3, C4, C4 Picasso & C5 ► First car maker to introduce EV in Europe in 2010: Peugeot iOn an
Slide 13: New car revenues analysis
New car revenues analysis > Strong product mix in Q1 2011 Volumes Price Product Country FX Others mix mix In million euros +0.5% 8 399 +6.3% +0.1% +1.3% 7 928 -0.3% -2.0% +5.9% New car New car revenues revenues Q1-10 Q1-11 2011 First Quarter Revenues – April 20, 2011 13
Slide 14: Inventory
Inventory > Improved inventory rotation at 58 days In thousands of new vehicles 68 days 63 days 58 days Inventory rotation Total 523 487 471 304 278 259 Group inventory Independent 219 210 212 dealership inventory 31.03.09 31.03.10 31.03.11 2011 First Quarter Revenues – April 20, 2011 14
Slide 15: Sustained recovery at Faurecia
Sustained recovery at Faurecia, with revenues up 24% > Increase driven by growth in North America and Asia > Strong growth for the four business groups In million euros Q1-10 Q1-11 ∆ Automotive Seating 1 062 1 188 +11.8% Interior Systems 670 775 +15.8% Emissions Control Technologies Systems 563 716
Slide 16: Solid performance by Gefco
Solid performance by Gefco > Revenues up 16.1% at €977m > Acquisition of Mercurio: portfolio diversification and extension of international footprint In million euros Q1-10 Q1-11 ∆ PSA Peugeot Citroën 556 642 +15.5% Third parties 286 335 +17.1% Total revenues 842 977 +16.1% 2011 First Quarter Revenu
Slide 17: Banque PSA Finance
Banque PSA Finance > Revenues up +2.8% in Q1 2011 > Sustained rise in new contracts up +4.1% In million euros Q1-10 Q1-11 ∆ Revenues 457 470 +2.8% Total outstanding loans 23.1bn * 23.9bn +3.5% (end of period) Number of new contracts 218 000 227 000 +4.1% (lease and financing) * €23.1bn end of period
Slide 18: Impact of Japan disaster
Impact of Japan disaster • PSA is carefully tracking the evolving situation ► Reduced visibility on Q2 ► Close coordination with auto equipment OEMs to minimize disruption in production • Japan impact including Hitachi of €150m estimated on H1 2011 automotive recurring operating income ► Plants maki
Slide 19: 2011 Outlook
2011 Outlook • Automotive recurring operating income in 2011 is expected to be above the level of 2010, with a €1.1 billion contribution from the Performance Plan, which should more than offset significant increases in raw material and other input costs 2011 Outlook * • Faurecia, Gefco and Banque PS
Slide 20: Appendix
PSA PEUGEOT CITROEN | APPENDIX
Slide 21: Globalization on track
Globalization on track 67% 62% 38% 33% Q1 Q1 2010 2010 Q1 Q1 2011 2011 Q1 Q1 2010 2010 Q1 Q1 2011 2011 Outside Europe Europe 2011 First Quarter Revenues – April 20, 2011 21