PARIS--(Business Wire)--
Regulatory News:
At today`s Investor Meeting, the Managing Board of PSA Peugeot Citroën
(Paris:UG) presented a Performance Plan that will allow the Group to return to
profitable growth.
The objective of the €3.3 billion plan is to enable PSA Peugeot Citroën to catch
up with its leading competitors in terms of profitability.
The sales & marketing momentum will account for 45% of the improvement in the
Group`s performance, with cost reductions representing the remaining 55%.
* The sales & marketing momentum will be underpinned by :
* Increasing market share in Europe through a product offensive and greater
B-to-B segment penetration.
* Enhancing brand perception by developing a new image for each brand: Créative
Technologie for Citroën and a new identity for Peugeot to be presented in
January 2010.
* An expanded portfolio of customer services.
* Increasing penetration in China, Latin America and Russia thanks to extended
market coverage.
* Cost reductions will result from :
* An increase in production capacity utilisation to 105%, compared with 81% in
2008.
* A 20% improvement in manufacturing and development productivity.
* A € 400 million of SG&A savings.
* The roll-out of PSA excellence system across the Group.
Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, said:
"We`re faced with new realities in the automotive industry. We`re seeing faster
growth in Asian markets, ageing populations in developed countries, growing
urbanisation, and increasing concern for the environment. To respond to these
emerging trends, PSA Peugeot Citroën has defined three ambitions : to become a
global player, to be a step ahead in pioneering products and services and to be
an industry benchmark for operational efficiency, these ambitions being based on
responsible development."
Philippe Varin concluded:
"Our stepped-up efforts to enhance productivity and improve performance will
enable us to catch up with our best in class competitors and return to growth.
With the Group`s much improved financial position in the second-half of 2009,
the plan will give us the flexibility needed to achieve our ambitions."
www.psa-peugeot-citroen.com
Media Relations
Hugues Dufour
+33 (0) 1 40 66 53 81
hugues.dufour@mpsa.com
or
Pierre-Olivier Salmon
+33 (0) 1 40 66 49 94
pierreolivier.salmon@mpsa.com
or
Laurent Cicolella
+33 (0) 1 40 66 52 04
laurent.cicolella@mpsa.com
or
Investor Relations
James Palmer
+33 (0) 1 40 66 54 59
james.palmer@mpsa.com
or
Jean-Hugues Duban
+33 (0) 1 40 66 40 28
jeanhugues.duban@mpsa.com
or
Yasmine Casvigny
+33 (0) 1 40 66 57 45
yasmine.casvigny@mpsa.com
Copyright Business Wire 2009
