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2000
(in millions of euros)
Automotive Transportation
Automobile Equipment & Logistics Other Eliminations Total
Net sales
- to third parties 37,242 4,279 932 525 42,978
- intercompany, intersegment 194 1,561 1,397 458 (3,610) -
Total 37,436 5,840 2,329 983 (3,610) 42,978
Operating expense (35,663) (4,097) (832) (523) (6) (41,121)
Operating margin 1,579 182 100 2 (6) 1,857
Interest income (expense), net 135 (64) (6) 21 86
Income before tax of fully-consolidated companies 1,755 86 93 27 (6) 1,955
Pre-tax earnings of companies at equity 14 8 - - - 22
Intangible assets 99 23 14 - - 136
Property, plant and equipment 8,974 991 229 165 10,359
Capital expenditure 2,497 290 74 37 2,898
Depreciation of property, plant and
equipment and special tools 1,631 188 37 21 1,877
Research and development 1,387 221 - 17 - 1,625
Working capital provided by operations 2,757 244 91 131 (2) 3,221
2. Automobile division
Up until 2000, the cost of certain sales incentive programs, as defined
in note 1-e, was included in operating expense rather than being
recorded as a deduction from sales.
This presentation difference had no impact on operating margin and
the impact on sales was not material. Consequently, 2000 net sales
have not been recalculated based on the rule applied in 2002
and 2001 (note 1-d).
3. Automotive Equipment division – pro forma figures
The following table provides a comparison between published
Automotive Equipment division data for 2001 and 2000 and pro forma
2000 data including Sommer Allibert as if it had been consolidated
from the beginning of the period.
(in millions of euros)
2000 2000
2001 Pro forma Published
Net sales
- to third parties 7,452 6,513 4,279
- intercompany, intersegment 2,159 1,878 1,561
Total 9,611 8,391 5,840
Operating expense (7,192) (6,216) (4,097)
Operating margin 260 297 182
Interest expense, net (92) (97) (64)
Income before tax of fullyconsolidated
companies 74 103 86
Pre-tax earnings of companies at equity 4 4 8
Intangible assets at December 31 25 37 23
Property, plant and equipment
at December 31 1,570 1,449 991
4. Finance companies
The finance companies, corresponding to the Banque PSA Finance
group, finance sales of Peugeot and Citroën marque vehicles to
customers and provide wholesale financing to the two marques'
distribution networks.
This business is significantly different from that of the Group's other
divisions and the corresponding data are therefore shown separately in
the consolidated financial statements, in order to present more clearly
the performance of the various businesses.
PSA PEUGEOT CITROËN - APPENDICES TO THE MANAGING BOARD REPORT 147