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rdf:type	schema:NewsArticle
schema:articleBody	French car giant PSA Peugeot-Citroen, currently in the process of merging with rival Fiat Chrysler, said Wednesday it shook off a drop in sales to notch up record profits in 2019. "We have achieved record results in 2019," chief executive Carlos Tavares said in a statement. The group, whose brands include Opel in Germany and Vauxhall in Britain, booked bottom-line net profit of 3.2 billion euros ($3.5 billion) last year, an increase of 13.2 percent over the figure for 2018. Despite a 10.3-percent drop in unit sales to 3.5 million vehicles worldwide, revenues inched up 1.0 percent to 74.7 billion euros. PSA said its operating margin -- which measures underlying profit as a proportion of sales -- increased by 0.8 percentage points to 8.5 percent. In terms of vehicles sold, PSA suffered from its absence from the key US market and a shrinking market share in China. But the group attributed the modest increase in revenues to an improved product mix and higher prices, which it said helped offset negative exchange rate effects and falling volumes. Looking ahead to anticipated market developments in the current year, PSA said it forecast a decline of around 3.0 percent in Europe but no change in Latin America. bur/spm/bmm
schema:headline	French carmaker PSA defies sales slowdown with record profits
schema:mentions	Latin America Carlos Tavares Opel Exchange rate Groupe PSA Europe Germany France China Vauxhall Motors Product lining Operating margin Fiat Chrysler Automobiles
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	52 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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