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Financial Analysis PSA

Financial Analysis of the French group PSA Peugeot Citroën.
by

I T

on 3 March 2015

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Transcript of Financial Analysis PSA

Financial Analysis
Summary
Introduction
Background and Strategy of the group
Conclusion
1. Background and Strategy of the Group
PSA Peugeot Citroën, a truly French entity
Implementation of the "Rebond 2015" strategy
Master 2 Accounting, Control and Audit
Management School - University of Clermont-Ferrand
May 2013

Yanis AMRA
Pierrick GENEIX
Moustapha NDIAYE
Isabelle TRIOULIER

2. Financial Analysis
Introduction
Conclusion
Background
Strategy
Historical Analysis and sectoral comparison
Free cash flows Analysis
Financial Structure
Background and Strategy of the group
Financial Analysis
Financial Analysis
Financial Analysis
Second largest auto manufacturer in Europe, after Volkswagen
Composed of three main activities: Auto manufacturing with the two brands Peugeot and Citroën, Bank with PSA Banque Finance and auto parts manufacturing with FAURECIA
PSA is also ...
... A record annual loss of 5 millions Euros in 2012
32 sites in 6 countries, 18 000 retailers, 211 100 employees and 2 965 00 car sold in the world but ...
To analize the groups progress through financial crisis in Europe we will background the environmental and financial position. This will permit us to comment on it's position comparing to the competitive rivalry.
Biggest competitor in Europe is Renault with a strategy of low cost vehicles. As a European leader, Volkswagen AG are in healthy, stable position during difficult conditions.
We can also complete this analysis the five forces of Porter who will provide us with the framework to explain the strategy of the group.
One of the main strategy analysis tools is the SWOT matrix. This provides us with an internal and external diagnostic and identify the key factors for success.
Historical Analysis and sectoral comparison
Turnover of the automobile division
Analysis of the Free Cash Flows
Increase their presence on the emerging market and principally in China
A new position on the luxury and SUV/crossovers market which keep improving
Real difficulties to face the actual drop of the European market, PSA is in a worse position than its rivals
As the "Rebond 2015" strategy of the group is based on free cash flows; an overview on the past few years and and a comparison with the rivals can be relevant.
Financial structure
Balance sheet structure
Standard sup. 1
Even if it decrease, the company can still face the liabilities
Structural ratios
With a significant decrease in 2012, the company is now below the standards which means that the group requires more contribution from shareholders
Standard sup. 20%
Dynamic repayment ability
Standard up to 4 years
In 2012 PSA is over the standard with almost 6 years to pay back their debts. This can be explain by an important drop of the capacity to self finance their operations.
Full transcript