PSA Peugeot Citro?n revises upward its forecast - November 12, 2009
The French group PSA Peugeot Citroen said Thursday the review "sharply increased" its earnings forecast for the current year, based on improving markets and the success of its new vehicles (Peugeot 206 and 3008 +, Citroen C3 Picasso). With a level of production and sales "much better oriented than expected, the group now expects an operating result close to breakeven in the second half and a cash flow (free cash flow) positive 2009.
The group claims that its production in the fourth quarter 2009 will be 30% higher than the fourth quarter 2008 and 17% over third quarter 2009.
The group had expected the month of July on a current operating loss of between 1 and 2 billion euros this year, after 836 million euros of losses in the first half.If the stated goal of achieving a balance for the current operating income came to be realized in the second half, the manufacturer could remain under the symbolic 1 billion euros over the full year 2009.
Investors were particularly well received these ads, pushing up under the PSA over 4% to 24.74 euros, head of the CAC 40.
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