Peugeot Reports Solid 1Q Revenue Growth; EUR 11 FVE Unchanged
No-moat-rated Peugeot reported a 13% increase in first-quarter revenue for the Peugeot Citroen DS automotive division, but excluding negative currency translation, PCD revenue would have been up 16%. PCD worldwide unit volume was up 7% to 0.777 million units versus 0.729 million last year. Including the Opel Vauxhall acquisition, the company reported 42% revenue growth, but it did not provide Opel Vauxhall comparable revenue or volume for the first quarter of 2017. We expect full-year automotive...Peugeot is an automobile manufacturer (cars and light commercial vehicles), supported by two brands: Peugeot and Citroen. Co.'s activities are divided into four main segments: Automobile (Co. designs, manufactures and markets passenger cars and light commercial vehicles under Peugeot and Citroen brands), Finance (Co. provides retail and wholesale financing to customers and dealer networks), Automotive equipment (Co. produces Interior Systems, Automotive Seating, Automotive Exteriors and Emissions Control Technologies) and Other businesses (Co. produces scooters).
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