2019 h1 results
TRANSCRIPT
24 July 2019
2019 H1 RESULTS
2
DISCLAIMER
This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, PEUGEOT SA
(“Company”) shares.
This presentation may contain forward-looking statements. Such forward-looking statements do not constitute
forecasts regarding the Company’s results or any other performance indicator, but rather trends or targets, as
the case may be. These statements are by their nature subject to risks and uncertainties as described in the
registration document filed with the French Autorité des Marchés Financiers (AMF). These statements do not
reflect future performance of the Company, which may materially differ.
The Company does not undertake to provide updates of these statements.
More comprehensive information about Groupe PSA may be obtained on the Group website
(www.groupe-psa.com), under Regulated Information.
3
2017 FY 2018 FY 2019 H1 2021
RECORD PROFITABILITY IN H1 2019PUSH TO PASS
5.9% >4.5%
average
Actual figures Push to Pass
Targets
8.7%
2013 2014 2015 2016 2017 2018
PCD
6.0%7.3%
5.0%
0.2%
-2.8%
2017 2018
OV-2.5%
7.6%
8.4%
4.7%
Automotive Recurring Operating Margin *
• Recurring Operating Income related to revenue, including OV since August 1st 2017
4
VALUES: OUR CORE ASSETPOWER IS INSIDE
Win together
Efficiency
Agility
4
FINANCIALRESULTS
6
+23.7%: NET INCOME GROUP SHARE INCREASEFINANCIAL RESULTS
* See detail in attachments
2018 H1 2019 H1 Change
Revenue 38,595 38,340 (255)
Recurring Operating Income 3,017 3,338 321
% of revenue 7.8% 8.7%
Non–recurring operating income and (expenses) (750) (847) (97)
Operating income 2,267 2,491 224
Net financial income (expenses) (218) (166) 52
Income taxes (409) (325) 84
Share in net earnings of companies at equity* 73 48 (25)
Consolidated net income / (loss) 1,713 2,048 335
Net income, Group Share 1,481 1,832 351
In million Euros
7
2018 H1 2019 H1
-0.7%: GROUP REVENUEH1 REVENUE
FaureciaAutomotive division
2018 H1 2019 H1
30,712 30,378
2018 H1 2019 H1
38,595 38,340
Group
8,991 8,972
-0.7%
In million Euros
-1.1%
-0.2%
8
STRONG PRODUCT MIXAUTOMOTIVE REVENUE ANALYSIS
In million Euros
FXProduct
MixPrice
Sales to Partners
Others
2018 H1 2019 H1
30,712 30,378
Variation: -1.1%
Volume & Country Mix
-0.8 % -1.4 % +1.3 % +2.9 % -2.2 % -0.9 %
9
GROUPE PSA SALES AT 1.9 M UNITSH1 CONSOLIDATED WORLDWIDE SALES*
* Assembled Vehicles, CKDs and vehicles under license
** Including 144 kunits sold in H1 2018 under Peugeot License by Iran Khodro
In thousands units*
2,182
-12.8%
-6.6% w/o Iran
-60.6% -29.3% +2.3%
Total Consolidated
Worldwide Sales
Europe China &
SE Asia
Middle-East
& Africa**
Latin
America
EurasiaIndia &
Pacific
+0.3% -68.4%
-12.9% w/o Iran
-14.6%
H1 2018
H1 2019
1,903
1,6741,678
226
72
163
6498 69
13 14 8 7
10
+10.6%: GROUP ROI STRONG INCREASEGROUP RECURRING OPERATING INCOME & MARGIN
* Breakdown in attachment
In million Euros and as % of revenue
2018 H1 2019 H1 2018 H1 2019 H1 2018 H1 2019 H1
2,359
3,017
3,338
2,657
8.7%MARGIN*
7.8%MARGIN 7.7%
MARGIN
8.7%MARGIN
+10.6%
+12.6%
642 634
7.1%MARGIN
7.1%MARGIN
-1.2%
FaureciaAutomotive divisionGroup*
11
+12.6%: AUTO ROI ROBUST GROWTHAUTOMOTIVE RECURRING OPERATING INCOME
* Including IAS 29 effect amounting to -€30M (Argentina hyperinflation)
In million Euros
2018 H1 2019 H1
2,359
2,657
Market Demand
Input Costs
Forex& Other*
ProductMix
Price & Product
Enrichment
Market Share & Country
Mix
Production &
Procurement
SG&AExpenses
R&D Others
Operating Environment: (521)
Performance: +819
(255) +133 +330 +71 +264 +32(194) +18(72) (29)
Variation: +12.6%
12
CONTRIBUTION OF BANQUE PSABANQUE PSA FINANCE
* In % average loans
Recurring
Operating Income100% basis
Penetration Rate Cost of Risk*
2018 H1 2019 H1
510 513
+0.6%
2018 H1 2019 H1
27.5%27.0%
+0.5 pt
2018 H1 2019 H1
0.12%0.14%
+0.02 pt
In million Euros
13
STABLE OPERATING MARGIN INCLUDING CLARIONFAURECIA
Revenue* Recurring Operating
Income*
2018 H1 2019 H1 2018 H1 2019 H1
8,991 8,972
634642
7.1%MARGIN
7.1%MARGIN-1.2%
* Including Clarion consolidated in H1 2019 for two months (April and May 2019)
-0.2%
In million Euros and as % of revenue
14
+€2,287M: STRONG AUTO FREE CASH FLOWAUTO CASH FLOW & NET FINANCIAL POSITION (1)
1. Auto: PCDOV + Holding
2. Including dividends to Group shareholders (-€697M)
In million Euros
+9,643
Cash Flow Change in WCR
Capex & Capitalised R&D
Exceptional Capex
Restructuring Other (2)
End 2018
Auto Net Financial
Position
Auto Net Financial
Position
+3,821
End June 2019
+5(467) +574 (699)(1,743)
+10,457
Auto Free cash flow +€2,287M
AutoNet Financial
Position after IFRS16
+8,869
-774
IFRS16 effect
BPF dividends
+97
15
IMPROVING NFP INCLUDING CLARION ACQUISITIONGROUP CASH FLOW & NET FINANCIAL POSITION (NFP) (1)
1. Manufacturing and Sales Companies
2. Including acquisition of Clarion (-€1,054M) by Faurecia
3. Including dividends to Group shareholders (-€697M), dividends to minority interests (-€111M), Clarion debt situation (-€240M) and new Ieasing debt under IFRS16 (-€146M)
In million Euros
+9,098
Cash Flow Change in WCR
Capex & Capitalised R&D
Exceptional Capex (2)
Restructuring Other (3)
End 2018
GroupNet Financial
Position
GroupNet Financial
Position
+4,819
End June 2019
(1,046)(545) +586 (1,337)(2,312)
+7,906
Group Free cash flow +€1,599M
GroupNet Financial
Position after IFRS16
+7,644
-1,454
IFRS16 effect
BPF dividends
+97
16
RIGHTSIZED INVENTORIESINVENTORIES
* World figures excluding JV (China and Iran)
** Including Peugeot importers inventory outside Europe
In thousands of new vehicles*
Independent dealers inventory **
Group inventory
449494
210165
End June 2018 End June 2019
659659
Automotive division inventories
17
OUTLOOK
CHINA
-7%
EUROPE
-1%
LATIN AMERICA
-4%
RUSSIA
+3%
2019 Market Outlook* Operational Outlook
Deliver over 4.5% Automotive Recurring
Operating Margin** on average in 2019-2021
* Market forecasts based on internal sources (PC+LCV) ; for China, passenger cars
only and excluding imports ; Latin America = Argentina + Brazil + Chile + Mexico ** Automotive division Recurring Operating Income related to Revenue
PUSH TO PASSHIGHLIGHTS
19
20
A GREAT CAR MAKER
C U T T I N G E D G E E F F I C I E N C Y
CORE MODEL& TECHNOSTRATEGY
QUALITYFIRST
COREEFFICIENCY
NEW FRONTIERS
BRANDPOWER
21
TARGET Nº 1 IN CUSTOMER SATISFACTIONQUALITY FIRST ALWAYS
In Europe: Top 4 for Sales customer satisfaction, Top 3 in Aftersales satisfaction*
In Brazil: from bottom to Podium in 3 years in customer satisfaction (Sales & Aftersales)*
JD Power: Opel Insignia N°1 in Germany and Peugeot ranked as UK’s most reliable brand
Product ‘Overall Satisfaction’ * : DS 7 Crossback & Peugeot 3008 N°1 in their segment
* Source: rankings based on internal benchmarking monitoring
Gap Industrial Direct run ratio
vs benchmark
-14 -12
Product manufacturing Aftersales customer satisfaction
Gap Aftersales customer recommendation
vs benchmark
Sales customer satisfaction
Gap Sales customer recommendation
vs benchmark
2018 2019 H1
benchmark
2018 2018
-4-7 -10
2021
benchmark benchmark
2019 H1 2019 H12021 2021
-3
22
MORE EFFICIENCY THROUGH SMART DIVERSITYCORE MODEL STRATEGY
41 core models in 2025 while improving market and profit pool coverage
Streamlining technical complexity contributing to quality improvement
Smart diversity to preserve brand positioning, competitiveness & profitability
Positive impact on quality, R&D + CAPEX, purchasing and manufacturing
2015 2018 20252021
Streamlining PC technical complexity & diversity
(number of references per car line – base 100)Number of core models (PC + LCV)
43 49
1919
41
20252018 2021
10088
55 48
OV PCD
23
Range electrified (1)
20252018
ELECTROMOBILITY BY GROUPE PSACORE TECHNO STRATEGY
2021
2%50%
100%
Industrial flexibility
e-CMP
2020
29%
2 Multi energy flexible platforms to master the market ramp-up
Electrification blitz with the launches of 7 BEV and 7 PHEV over 2019 & 2020 (o/w 11 PC & 3 LCV)
CO2 compliance on track for 2020 & 2021
All technologies under development to meet 2025 objective
LEV & ICE sharing the same manufacturing line and top hats
1. PC + LCV
24
BENCHMARK AS A PERMANENT TARGETCORE EFFICIENCY
Lowering Groupe PSA break even point to protect profitability
High level of flexibility to protect against any downturn
Efficient R&D and Capex: 8 to 9% of Auto revenues
New labour agreements to further boost industrial competitiveness in Germany
Production cost savings in Europe€/veh. over 2018 - 2021, including Euro 6, raw mat and air freight
Wages to revenue ratio(Auto division excluding own dealer network)
10.8%
Forecast
2019
2021
10.0%11.1%
2018
H1 2019
2018reference
2019 2021target
2020
700 €
25
# UNBORING THE FUTUREPEUGEOT – THE BEST HIGH-END GENERALIST BRAND
2015 2018
-2.4%
-1.2% Push to Pass target
+1%
- 1%
2019-2021
Pricing Power at the right level (vs benchmark)
PEUGEOT 208
2019 H1
-0.8%
PEUGEOT 2008
Pricing power in Europe on track, even before 2019 launches
Strong profitability
6 BEV & PHEV in 2019 & 2020
508 success: 40 kunits sold since launch, among best D segment market share increase (1)
PEUGEOT 2008Peugeot 2008
1. Europe 30, H1 2019 vs H1 2018
26
100 YEARS OF BOLDNESSCITROËN – THE PEOPLE MINDED BRAND
+6.5%
2015 2018 2019 H1
+3%
+4.7%
Pricing Power at the right level (vs benchmark)
Push to Pass target
+5%
+3%
2019-2021
Strongest growth of the Top 12 brands in Europe with a market share from 4.5% to 4.8% (1)
New C5 Aircross SUV: the best of Citroën Advanced Comfort®
Now 2 SUV offers: 24% of European sales
From 2021 in India with C-Cubed programme: new models with an international scope
1. Europe 30 (PC+LCV), H1 2018 vs H1 2019Citroën 19_19 Concept
27
SCALING UPDS – FRENCH AVANT-GARDE EXCLUSIVE EXPERIENCE
All models electrified as of 2019
Premium level profitability per unit
Exclusive network construction: now 400 dealers in 35 countries
Brand awareness strong progress thanks to DS 7 CROSSBACK and DS 3 CROSSBACK
2015
Pricing Power at the right level (vs benchmark)
Push to Pass target
+1%
- 1%
2019-2021
2019 H1
+2.1%
-7.9%
+2.3%
2018
DS 3 CROSSBACK E-TENSE
28
PROFITABLE & GOING GLOBAL AND ELECTRICOPEL – BRINGING GERMAN ENGINEERING, INNOVATION & DESIGN TO THE PEOPLE SINCE 1899
-6.0%
2017 (1) 2018
-8.2%
Pricing power gap (vs benchmark)
1. August until December
2. Europe 30, 2018 H1 vs 2019 H1
Push to Pass target
0%
- 3%
20212019 H1
-4.6%
Opel Grandland X Hybrid4
H1 recurring operating income ~ €700 M
LCVs sales +15% with market share from 4.1% to 4.6% (2) before new Vivaro launch in H2
Export offensive started in Middle East & Africa and Latin America, to be followed by Russia
Opel goes electric! with new Corsa-e and Grandland X PHEV
29
REWARDING PROFITABILITY EUROPE
Consolidated sales (‘000) Market share (1)
17.4%17.1%
2019 H12018 H1
1,674 1,678
2019 H12018 H1
Growing profitability for all brands
Increased profitability per unit for all brands
Group market share up in the 5 main European countries (3) with Citroën strong increase
LCV leadership
ROI (2)
1. Europe 30 (PC+LCV)
2. Versus 2018 H1
3. France, Germany, Italy, Spain and UK
30
KENITRA PLANT STARTS PRODUCTIONMIDDLE EAST & AFRICA
Resilience despite difficult market conditions (Turkish market -45%)
Market share up in Turkey (+0.5pt), Algeria (+2.7pts), Morocco (+4.6pts) & Egypt (+3.5pts)
Product offensive on-going (SUV, LCV)
Kenitra plant: ramp up of production based on the CMP platform
1. 59 countries, including: Algeria, Israel, Morocco, Tunisia, Turkey, South Africa and excluding Iran sales in 2018
2. Versus 2018 H1
Consolidated sales (‘000) (1) Market share (1) ROI (2)
2019 H1
72
2018 H1
82
2019 H1
4.5%
2018 H1
4.8%
31
RESTRUCTURING THE BUSINESS IN CHINACHINA & SOUTH-EAST ASIA
Targeting breakeven in 2019 in the Region
Downsizing and reducing fixed costs (eg -23% in DPCA)
Electric offensive: Peugeot 4008 PHEV in H2 2019, Peugeot 508 PHEV, C5 Aircross PHEV and
new BEV Peugeot 2008 and DS 3 CROSSBACK in 2020
Exports from the Malaysian hub NAM now starting for Peugeot 3008 and 5008
1. China and South East Asia 2. Versus 2018 H1
ROI (2)
2019 H1
64
2018 H1
163
2019 H1
0.5%
2018 H1
1.1%
Consolidated sales (‘000) Market share (1)
Peugeot 508 L
32
ARGENTINIAN MARKET DOWNTURNLATIN AMERICA
1. G4: Argentina, Brazil, Chile, Mexico
ROI (2)
2. Versus 2018 H1
Sales volumes -29% with a strong hit from Argentina
Sales volumes +11% in Brazil thanks to the success of SUV C4 Cactus
Preserving profitability is our top priority including fixed costs reduction
Preparing the future with CMP platform launch in 2020
Consolidated sales (‘000) Market share (1)
2019 H1
69
2018 H1
98
2019 H1
2.9%
2018 H1
3.9%
incl. -€30M of IAS 29 effect(Argentina hyperinflation)
33
PAVING THE WAY TO PROFITABILITYEURASIA
Close to breakeven in H1 despite sales slowdown in Russia
‘Special Investment Contract’ signed with the Government of the Russian Federation
Opel to be relaunched in Russia with Zafira Life & Grandland X in H2 and Vivaro in 2020
Launch of DS Automobiles in Ukraine: first DS Store opened in July 2019
1. G4: Russia, Ukraine, Belarus, Kazakhstan
2019 H1
7
2018 H1
8
2019 H1
0.7%
2018 H1
0.9%
ROI (2)
2. Versus 2018 H1
OPEL ZAFIRA LIFEOpel Zafira Life
Consolidated sales (‘000) Market share (1)
34
START OF PRODUCTION IN INDIAN POWERTRAIN PLANTINDIA PACIFIC
Volumes up in H1 +2% (2)
Success in Japan: sales +16% (2)
Launch of new products in H2: C3 Aircross in Japan, Peugeot 508 SW and DS 3 CROSSBACK
India: JV with Avtec (CK Birla Group) in production in Hosur plant (Phase 1: gearboxes)
1. Including : Australia, India, Japan & South Korea
2. Versus 2018 H1
ROI (2)
2019 H1
14
2018 H1
13
2019 H1
0.2%
2018 H1
0.2%
PHOTO DE L USINE
Consolidated sales (‘000) Market share (1)
35
80
MAINTAINED LEADERSHIP IN EUROPELCV
1. Europe 30
2. Versus 2018 H1
3. YTD May 2019 vs YTD May 2018
LCV market share in Europe (1) ROI (2)
Leadership in Europe 30 with 7.9 pts gap compared to #2 competitor
Transport & Family vans sales +12% and registrations +39% (3) in Europe 30
Overseas development: doubling market share in Brazil
Electrification of the entire LCV range starting in 2020 with the medium van segment
362
2019 H12018 H1
Consolidated sales in Europe (1) (‘000)
342
25.3%24.7%
2018 H1 2019 H1
383263
89
273
LCV Transport & Family
vans
LCV Transport & Family
vans
CITROËN BERLINGO
36
A G R E A T C A R M A K E R FOR A LIFETIME CUSTOMER RELATIONSHIP
A MOBILITY PROVIDER
ENLARGE OUR CUSTOMER BASE
MULTI-BRAND
AFTERMARKET
USED CARS
NEW
CUSTOMERS
CONNECTED
AND MOBILITY
SERVICES
CUSTOMER
INSIDE
HASSLE FREE
MOBILITY
NORTH
AMERICA
10 YEAR
PROJECT
37
INDEPENDENT AFTERMARKET STRONG GROWTHMULTIBRAND AFTERMARKET
IAM revenue growth: 3 X faster outside Europe
Strong ROI increase (2)
Significant cost reduction thanks to synergies in PCDOV shared supply chain
4,400 Eurorepar Car Service garages in 24 countries: +26% (2)
1. All parts excluding Groupe PSA original parts
+33%
2018 H1 2019 H1
+91%
2018 H1 2019 H1
IAM spare parts revenue growth (1) IAM spare parts revenue growth
outside of Europe (1)
ROI (2)
2. Versus 2018 H1
38
STRONG PROFITABLE GROWTHUSED CARS, NEW CUSTOMERS
ROI strong increase
Aramis Group +47% turnover (1)
Stepping up international expansion: transactions in Latin America +50%, Investment in China (FengChe)
Spoticar: launch of a unique multibrand label to simplify customer journey
397
361
2018 H1 2019 H1
1. Versus 2018 H1 including Cardoen integration since August 2018
Used car sales and transactions
(‘000)
ROI (1)
+11%
2018 H1 2019 H1
Used cars revenue growth (1)
39
GROUPE PSA PREPARING THE FUTURE
Strong profitability & balance sheet
Offering electrified technologies to our customers
Aligned management team focused on execution
Open to grasp opportunities creating shareholder value
ATTACHMENTS
41
CONSOLIDATED WORLDWIDE SALESATTACHMENT
Units* 2018 H1 2019 H1 Change
Europe**
PeugeotCitroënDSOpel VauxhallTotal PSA
650,104444,29528,326
550,9561,673,681
639,385455,85528,801
554,0851,678,126
-1,6%+2,6%+1,7%+0,6%+0,3%
Middle East & Africa***
PeugeotCitroënDSOpel VauxhallTotal PSA
185,69119,963
59319,886
226,133
39,93017,921
76912,94571,565
-78,5%-10,2%29,7%
-34,9%-68,4%
China & South East Asia
PeugeotCitroënDSOpel VauxhallTotal PSA
91,07769,3332,049
487162,946
33,06829,1231,757
22164,169
-63,7%-58,0%-14,3%-54,6%-60,6%
Latin America
PeugeotCitroënDSOpel VauxhallTotal PSA
64,38632,776
474397
98,033
41,51826,970
343465
69,296
-35,5%-17,7%-27,6%+17,1%-29,3%
India-Pacific
PeugeotCitroënDSOpel VauxhallTotal PSA
10,0063,052
283-
13,341
9,4633,643
538-
13,644
-5,4%+19,4%+90,1%
NS+2,3%
Eurasia
PeugeotCitroënDSOpel VauxhallTotal PSA
4,4123,142
29106
7,689
3,6982,522
9341
6,570
-16,2%-19,7%-69,0%
+221,7%-14,6%
Total consolidated worldwide sales
(AV+CKD):
* Assembled Vehicles, CKDs and vehicles under license ** Europe = EU + EFTA + Albania + Croatia + Kosovo + Macedonia + Serbia*** o/w 144 kunits sold under Peugeot license in 2018 until 31st April 2018.
2018 H1 2019 H1 Change
PeugeotCitroënDSOpel VauxhallTotal PSA
1,005,676572,56131,754
571,8322,181,823
767,062536,03432,217
568,0571,903,370
-23,7%-6,4%+1,5%-0,7%
-12,8%
Total consolidated worldwide sales
excluding Iran:
2018 H1 2019 H1 Change
PeugeotCitroënDSOpel VauxhallTotal PSA
861,559572,56131,653
571,8322 037,605
767,062536,03432,217
568,0571,903,370
-11,0%-6,4%+1,8%-0,7%-6,6%
42
GROUP REVENUE BY DIVISIONATTACHMENT
2018 H1 2019 H1 Change
Automotive 30,712 30,378 (334)
Faurecia 8,991 8,972 (19)
Other businesses and eliminations (1,108) (1,010) 98
Group Revenue 38,595 38,340 (255)
43
GROUP RECURRING OPERATING INCOME BY DIVISIONATTACHMENT
2018 H1 2019 H1 Change
Automotive 2,359 2,657 298
Faurecia 642 634 (8)
Other businesses and eliminations 16 47 31
Group Recurring Operating Income 3,017 3,338 321
44
BANQUE PSA FINANCEATTACHMENT
2018 H1 2019 H1 Change
Revenue 1,022 1,071 49
Cost of risk (in % of average loans) 0.12% 0.14% +0.02 pt
Recurring operating Income 510 513 3
Penetration rate 27.0% 27.5% +0.5 pts
Number of new contracts (lease and financing) 555,500 585,400 +29,900
45
FAURECIA*ATTACHMENT
2018 H1 2019 H1 Change
Revenue 8,991 8,972 (19)
Recurring Operating Income 642 634 (8)
% of revenue 7.1% 7.1%
Consolidated net income 391 378 (13)
Free Cash Flow** 165 (688) (853)
Net Financial Position*** (545) (2 551) (2 006)
* Including Clarion consolidated in H1 2019 for two months (April and May 2019)
** Including the acquisition of Clarion in H1 2019
*** After IFRS 16 effect and including the acquisition of Clarion ; NFP is 30/06/2019 vs 31/12/2018
46
PARTNERSHIPS CONTRIBUTION TO NET RESULTATTACHMENT
2018 H1 2019 H1 Change
50% Dong Feng Motor company Partnership 12 (163) (175)
50% Changan Partnership (9) - 9
25% Chinese Financial JV 7 10 3
50% Banque PSA Finance JVs with Santander 119 132 13
50% Banque PSA Finance JV with BNP Paribas 72 43 (29)
Others (128) 26 154
Share in net earnings of companies at equity 73 48 (25)
47
IFRS 16 FIRST APPLICATION IMPACTATTACHMENT
30/06/2019
Recurring Operating Income (depreciation expenses instead of lease
charges) (147)
Net Financial income (expenses) (30)
1) on consolidated income statement of H1 2019 :
2) on consolidated balance sheet as of 1st January 2019: 01/01/2019
Intangible assets 1,546
Non current financial liabilities 1,276
Current financial liabilities 314
3) on consolidated statement of cash flows of H1 2019:
30/06/2019
Net cash from (used in) operating activities of continuing operations 173
Net cash from (used in) financing activities of continuing operations (166)
01/01/2019
Recognition, on 1 January 2019, of the debts on lease obligations (1,454)
4) on Group net financial position as of 1st January 2019:
(in million euros)
(in million euros)
(in million euros)
(in million euros)
48
FINANCIAL SECURITYATTACHMENT
31 December
2018
30 June
2019Change
Cash and Cash Equivalents 14,961 16,116 1,155
Financial Investments 50 57 7
Current & non current financial assets 1,410 1,565 155
TOTAL Cash & Financial assets 16,421 17,738 1,317
Lines of Credit (undrawn) – excluding Faurecia 3,000 3,000 -
Lines of Credit (undrawn) – Faurecia 1,950 1,200 (750)
TOTAL Financial Security 21,371 21,938 567
49
DEBT MATURITY PROFILEATTACHMENT
In million Euros
117 77 135 60
751
1072
681
275 50
600
203 7 292
907 217
702
500
2019 2020 2021 2022 2023 2024 2025 2026 2027 2033
Faurecia Others
Gross debt* in nominal value - End of June 2019
* Excluding BPF, undrawn credit-line short term liabilities & other adjustments
PSA: €522m Schuldscheindarlehen with
4.5, 7 and 8 years maturity, successfully
priced on April 2019
Faurecia: €500m 7 years 3.125% bond
issue, successfully priced on March 2019
S&P: BBB- stable (since 17/12/2018)
Fitch: BBB- stable (since 29/11/2018)
Moody’s: Baa3 stable (since 28/03/2019)