PSA COUV page . page RA GB - PEUGEOT Presse

More documents

Recommendations

Info

T he Automobile Division GROWTH IN PSA PEUGEOT CITROËN’S SHARE OF THE WESTERN EUROPEAN PASSENGER CAR AND LIGHT COMMERCIAL VEHICLE MARKET, 1998-2002 16 15 14 13 12 11 10 1998 1999 2000 2001 2002 GERMANY In 2002, sustained restructuring of the dealership networks helped drive further strong growth in Germany. In a market down 2.9%, Group registrations rose 8.8% to 186,400 cars and light commercial vehicles, thereby raising market share to 5.4% from 4.8% the year before. The environmental performance of Group vehicles, in particular the new diesel-powered models equipped with the particle filter, offers a powerful marketing argument, which enhances the appeal of Peugeot and Citroën concepts, styling and road handling. MARKET SHARE GAINS IN WESTERN EUROPE In a Western European market down by 3.0%, registrations of PSA Peugeot Citroën cars and light commercial vehicles rose 0.3% to 2,511,000 units, lifting market share by half a point to 15.5% in the 17-country Europe. The Group was Europe’s leading producer of light commercial vehicles, with 348,000 registrations and a market share that held steady at 19.3%. It was also once again Europe’s second largest manufacturer of passenger cars, increasing registrations by 1.1% to 2,163,000 units, and widening market share to 15.0% from 14.5% the year before. In all, PSA Peugeot Citroën strengthened its position as Europe’s second largest carmaker, ranking number one in France, Spain, Belgium, Portugal and Denmark, and second in the United Kingdom, the Netherlands and Greece. In the 17-country Western European market, the Group’s market share now exceeds 10% in 11 countries and totals between 8.7% and 10% in five others. It is therefore approaching the target of holding at least a 10% share of each European market by 2004. The only exception is Germany, where the goal is 6.5% and the 2002 figure was 5.4%. UP SHARPLY IN 2002, UNIT SALES OUTSIDE WESTERN EUROPE NOW ACCOUNT FOR MORE THAN 20% OF THE CONSOLIDATED TOTAL Sales outside Western Europe rose 21.0% to 710,500 vehicles in 2002, comprising ITALY Citroën enjoyed a surge in sales in Italy, where registrations rose 21.0% in a passenger car and light commercial vehicle market that declined by 4.5%. Elected automobile piu bella del mondo, the C3 played a key role in this successful performance, with 28,400 registrations during the year. As well, unit sales of the Peugeot 307 tripled during the year, helping to increase Group market share to 9.7% from 7.9% in 2001. 36 PSA PEUGEOT CITROËN - MANAGING BOARD REPORT
Growth Strategy Corporate Governance Business Review Corporate Policies Management’s Discussion and Analysis Statistics POLAND PSA Peugeot Citroën began operating in Poland only recently, with Peugeot and Citroën subsidiaries being created in 1992 and 1994, respectively. However, the marques quickly set up strong, assertive, highly skilled dealership networks and soon attracted the interest of Polish carbuyers. The latter are highly sensitive to the latest models, with expectations similar to those of other European consumers. This has helped drive very strong sales of the Peugeot 206, Peugeot 307 and Citroën Xsara. Market share, which rose to 9.1% in 2001 from 4.8% in 1998, further widened to 11.9% in 2002, making the Group Poland’s fourth-ranked carmaker. 493,600 Peugeots and 216,900 Citroëns. For the first time, they accounted for more than 20% of total unit sales, at an aggregate 21.7% compared with 18.8% the year before. In South America, sales increased by 1.3% to 109,300 units despite difficult economic conditions. In Brazil, the Porto Real plant inaugurated in 2001 continued to ramp up production of the Peugeot 206 and Citroën Picasso. Group sales surged 33.7% in a market down by 7%, raising market share to 4.6% from 3.2% the year before. The economic crisis in Argentina caused demand to collapse 53%, dragging down local Group sales by a similar percentage. As a result market share held steady at 18%. In Mexico, after setting up an import subsidiary in 2001, Peugeot broadened its local model lineup, expanded its dealership network and now serves 1% of the market. In the Central European markets of Poland, Hungary, the Czech Republic, Slovenia, Croatia and Slovakia, overall demand eased by a slight 3% after two years of steep declines. Led by the introduction of strong dealership networks, PSA Peugeot Citroën enjoyed another year of growth, with sales gaining 21.1% to 132,900 units. Over the past five years, market share has widened from 5.1% to 12.6%, nearing the goal of a figure equivalent to the Group’s current share in Western Europe. In China, sales climbed 57.3% to 85,500 units, of which 84,400 were Citroëns. Growth was led by the launch of the Citroën Xsara Picasso and the new Citroën Elysée, both locally produced. In October, the final contracts were signed with Dong Feng Motors to implement the agreements signed with the company in November 2001. These contracts will enable the start-up of the second phase in the Group’s development in China, which will involve both marques and lead to a sharp SWEDEN In Sweden, where one in three cars sold is an executive model, the market is dominated by national marques. Nevertheless, in 2002, Peugeot and Citroën improved their aggregate market share by 2.2 points, to 9.7% from 7.5% in 2001. The gain was led by the sustained introduction of exciting, innovative models delivering the comfort and styling Swedish carbuyers expect. Enjoying strong market debuts were the Peugeot 206, Peugeot 307 and Citroën C5 with, respectively, 5,700, 5,600 and 3,600 registrations. increase in their output and sales. Six new Peugeot and Citroën models will be manufactured locally and brought to market between 2002 and 2004, when Peugeot will begin marketing its first model produced in China. Designed especially for the local market, it will be built on the same platform as the Peugeot 307. Citroën, which already has an extensive network of 460 dealers and served nearly 8% of the market at year-end 2002, will maintain its sales momentum. The objective in China is to sell 150,000 vehicles in 2004, with sales eventually rising to 300,000 units. Demand for imported cars was flat In Japan, but PSA Peugeot Citroën maintained its momentum, with sales increasing 18.1% to 16,900 vehicles including 15,300 Peugeots during the year. Citroën’s import subsidiary began operations in April. In Iran, CKD billings increased sharply to 156,500 units from 102,600 in 2001. GROWTH LED BY SUCCESSFUL MODELS • Peugeot 206 Supported by the SW version, sales of the Peugeot 206 continued to rise in 2002, gaining 0.4% to 832,000 units. It was again the year’s best-selling car in Western Europe, and more than three million units have been produced since its rollout in PSA PEUGEOT CITROËN - MANAGING BOARD REPORT 37
Page 1 and 2: 2002 ANNUAL REPORT
Page 3 and 4: K ey figures Worldwide sales Automo
Page 5 and 6: Contents 2 A Tribute to Pierre Peug
Page 7 and 8: A Tribute to Pierre Peugeot Our Gro
Page 9 and 10: M essage from the Chairmen is alrea
Page 11 and 12: plan defined by the Managing Board.
Page 13 and 14: 10 Growth Strategy 16 Corporate Gov
Page 15 and 16: Growth Strategy 12 • One Group, t
Page 17 and 18: Growth Strategy Corporate Governanc
Page 21 and 22: Corporate Governance 18 21 22 • T
Page 33 and 34: Business Review 30 34 44 48 52 56 O
Page 39: Growth Strategy Corporate Governanc
Page 65 and 66: Corporate Policies 62 Human Resourc
Page 91 and 92:
Growth Strategy Corporate Governanc
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Management’s discussion and analy
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Statistics PSA PEUGEOT CITROËN - M
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Appendices to the Managing Board Re
Page 137 and 138:
C onsolidated statements of income
Page 139 and 140:
C onsolidated balance sheets - Liab
Page 141 and 142:
C onsolidated statements of stockho
Page 143 and 144:
➔ Note 1 - Accounting policies Th
Page 145 and 146:
No reserve is booked for taxes paya
Page 147 and 148:
2. Effect on stockholders’ equity
Page 149 and 150:
Allibert’s non- automotive busine
Page 151 and 152:
2000 (in millions of euros) Automot
Page 153 and 154:
➔ Note 5 - Key financial data for
Page 155 and 156:
➔ Note 12 - Operating expenses -
Page 157 and 158:
➔ Note 15 - Intangible assets Int
Page 159 and 160:
Unrealized gains on restricted stoc
Page 161 and 162:
➔ Note 21 - Inventories Inventori
Page 163 and 164:
➔ Note 25 - Short-term income tax
Page 165 and 166:
g) Capital in excess of par value o
Page 167 and 168:
➔ Note 34 - Other long-term borro
Page 169 and 170:
2. Short-term portion (in millions
Page 171 and 172:
➔ Note 42 - Net financial positio
Page 173 and 174:
1. Automobile division An early-ter
Page 175 and 176:
- Changes during the year (in milli
Page 177 and 178:
The entire debt is converted to flo
Page 179 and 180:
2. Maturities of hedging instrument
Page 181 and 182:
➔ Note 50 - Commitments and conti
Page 183 and 184:
2. Effect of debenture conversions
Page 185 and 186:
F ive-year consolited statement of
Page 187 and 188:
F ive-year consolidated balance she
Page 189 and 190:
C onsolidated companies as at Decem
Page 191 and 192:
Company Percent Percent F/E control
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Recruitments (1) 2 4 Disabled emplo
Page 199 and 200:
7 Paid leave other than vacations E
Page 201 and 202:
Consumption Peugeot 607 Fuel Displa
Page 203 and 204:
E nvironmental Indicators Productio
Page 205 and 206:
Waste production PEUGEOT CITROËN A
Page 207 and 208:
M anagement and Administration Main
Page 209 and 210:
I nformation about the company’s
Page 211 and 212:
S tatutory Auditors’ Report on th
Page 213 and 214:
➔ Stockholders’ Meetings (Artic
Page 215 and 216:
PEUGEOT S.A. 100% AUTOMOBILES CITRO
Page 217 and 218:
S tockholder Information (Euronext
Page 219 and 220:
F inancial authorizations in effect
Page 221 and 222:
216 PSA PEUGEOT CITROËN - INFORMAT
Page 223 and 224:
R esolutions Eighth resolution Auth
Page 225 and 226:
T he Vice Presidents Committee Thie
Page 227 and 228:
12,000 copies of this report were p
show all

PSA COUV page . page RA GB - PEUGEOT Presse

Create successful ePaper yourself

Delete template?

Save as template?