PSA COUV page . page RA GB - PEUGEOT Presse

More documents

Recommendations

Info

T ransportation and Logistics partners to electronically interchange parts descriptions, customs declarations and other data. An experimental railcar fleet of 40 GPS-equipped car-carriers, linked to an innovative map management system, was deployed early in the year. New used-car refurbishment shops began operating in Spain, Italy and Germany, with capacity to process 150 vehicles a day at an average turnaround time of two weeks. An ambitious program to upgrade information and communication systems using the latest technologies was successfully undertaken in the second half. Service quality and flexibility were also improved in 2002. Bureau Veritas Quality International (BVQI) recertified to ISO 9001:2000 standards the quality systems in place in all the roadway, maritime, railway and air transportation operations in the integrated European network. At year-end, the same certification was extended to operations in Brazil and Argentina. A system to measure customer satisfaction was implemented, while a quality charter was signed with the main suppliers of roadway, maritime and railway services to enhance their integration into Gefco’s service lineup. All of the company’s information systems successfully transitioned to 24/7/365 operation. In addition, services were delivered without interruption despite a number of external disruptions due to strikes in France and Spain, floods in Germany and Austria, storms in the Alps, railway breakdowns between France and Italy, and labor unrest in Poland. Throughout, Gefco teams demonstrated flexibility and responsiveness, ensuring that customers did not suffer any significant delays or damages. Lastly, Gefco pursued its commitment to continually improving its competitiveness in close partnership with customers. It revamped the car distribution process between France and Italy, the freight transportation process between France and Spain, and coastal shipping lines between the North Sea, the Atlantic seaboard and the Mediterranean. It also improved the 50 PSA PEUGEOT CITROËN - MANAGING BOARD REPORT
Growth Strategy Corporate Governance Business Review Corporate Policies Management’s Discussion and Analysis Statistics GEFCO’S INTERCONTINENTAL LOGISTICS PLATFORM IN LE HAVRE Gefco has built a new intercontinental logistics platform in Le Havre to serve a full range of customers. The first, however, has been PSA Peugeot Citroën, which is using the 32,000 square-meter facility to ship automotive parts to Group plants outside Europe. Known as PLIP, the platform currently manages 5,000 different parts, collected from around 500 European suppliers and shipped by sea to assembly plants in Porto Real, Brazil and Buenos Aires, Argentina. It represents the latest generation of an integrated international supply chain, supported by the new Geolog information system offering real-time dialogue between Latin American production centers, European suppliers, Gefco Le Havre and the major Automobile Division corporate services, such as Purchasing and Accounting. PLIP uses the cross-docking technique with zero inventory stored on the platform itself. Any order from Brazil or Argentina for a European supplier is immediately notified to Gefco Le Havre, so that PLIP can order packaging materials, obtain the right number of containers and prepare for shipping, so that when the parts arrive, everything is in place for their immediate reshipment. This real-time management of information and parts flows has yielded both financial and qualitative benefits. The cycle time from parts order in Latin America to final delivery from Europe has been reduced on average by a full week. In addition, all parts are systematically inspected on the platform before reshipment and invoicing. By 2004, PLIP will be handling enough parts to build 500,000 vehicles. efficiency of customs procedures in dealing with the Mercosur countries, Eastern Europe and China, in particular as regards the operation of bonded warehouses. A larger number of joint groups were formed with customers to improve competitiveness based on Kaizen principles. The resulting gains were significant and the groups are continuing their work in 2003. FINANCIAL RESULTS Net sales were stable for the year, at €2,646 million. At comparable scope of consolidation, reflecting the sale of Transauto in May 2001, sales were up 0.7% despite a significant decline in the European transportation market. Although the European car market contracted by 3%, Gefco’s Automotive business rose by 1.9% during the year, as billings outside France and the growing contribution from the used car refurbishing shops offset lower volumes in France and Argentina. Thanks to faster development in the Mercosur countries and central Europe, the Network business held stable despite weaker demand in Western Europe. The Supply business was also unchanged at comparable scope of consolidation, since the major projects initiated in 2002 will not have a full-year impact until 2003. Operating margin totaled €135 million, or 5.1% of sales, an increase of 13% from the €119 million and 4.5% of sales reported the year before. The improvement was led by careful control over business development in light of the uncertain economic outlook, by sustained productivity gains and by the continuing ramp-up of high value-added businesses. PSA PEUGEOT CITROËN - MANAGING BOARD REPORT 51
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 53: Growth Strategy Corporate Governanc
Page 65 and 66: Corporate Policies 62 Human Resourc
Page 101 and 102: Management’s discussion and analy
Page 105 and 106:
Growth Strategy Corporate Governanc
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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?