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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Peugeot    UG   FR0000121501

PEUGEOT (UG)
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Peugeot : Opel-Vauxhall to scrap dealerships as Peugeot cuts costs

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04/16/2018 | 06:42pm CEST
FILE PHOTO: The brand name of Peugeot, part of French carmaker PSA Group, is seen at a dealership of the brand in Saverne

LONDON (Reuters) - Opel and its sister car brand Vauxhall will cut their number of dealerships as new owner Peugeot continues to reduce costs at the firm it acquired last year in the face of sliding sales in major market Britain.

LONDON (Reuters) - Opel and its sister car brand Vauxhall will cut their number of dealerships as new owner Peugeot continues to reduce costs at the firm it acquired last year in the face of sliding sales in major market Britain.

Peugeot parent company PSA bought Opel and Vauxhall last year when it acquired General Motors’ loss-making European arm and has been pursuing a restructuring plan to return it to profitability.

Vauxhall's new boss Stephen Norman is tasked with turning around falling sales in what has traditionally been Opel-Vauxhall's biggest market, where demand fell 22 percent in 2017, compared with an overall market decline of 5.7 percent.

"The requirements of the industry going forward and the requirements of the brands Opel and Vauxhall ... would not require as many retail outlets as the brands currently have," Norman told reporters.

Consumers are increasingly going online rather than making multiple visits to showrooms.

The chief executive of a dealership group, speaking on condition of anonymity, told Reuters last month that Vauxhall wants to cut its showrooms by roughly a third to around 200 outlets to ensure its sales per outlet are "in a good place".

(Reporting by Costas Pitas, editing by Estelle Shirbon)

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Financials (€)
Sales 2018 76 663 M
EBIT 2018 3 886 M
Net income 2018 2 416 M
Finance 2018 6 713 M
Yield 2018 3,20%
P/E ratio 2018 8,06
P/E ratio 2019 7,23
EV / Sales 2018 0,16x
EV / Sales 2019 0,15x
Capitalization 18 802 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 21,5 €
Spread / Average Target 3,3%
EPS Revisions
Managers
NameTitle
Carlos Tavares Chairman-Management Board
Louis René Fernand-Gallois Chairman-Supervisory Board
Jean-Baptiste Chasseloup de Chatillon Chief Financial Officer & EVP-Information Systems
Robert Peugeot Member-Supervisory Board
Henri Philippe Reichstul Member-Supervisory Board
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