Consolidated FS and MD and a Groupe PSA December 31
Stellantis N.V. Consolidated Financial Statements and Management’s Discussion and Analysis of Groupe PSA for the year ended December 31, 2020 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF PSA The following information should be read in conjunction with the audited consolidated financial statements of PSA as of and for the financial years ended December 31, 2020, 2019 and 2018, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), and in accordance with IFRS as adopted by the European Union. The audited consolidated financial statements of PSA and the notes to the audited consolidated financial statements of PSA are collectively referred to as the “PSA Consolidated Financial Statements”. Unless otherwise stated, the annual information included herein is based on the PSA Consolidated Financial Statements. The following discussion contains forward-looking statements that reflect PSA’s plans, estimates and beliefs. Refer to the section entitled “Cautionary Statements Concerning Forward Looking Statements” Overview In 2020, Peugeot S.A. (“PSA”) was the second largest car manufacturer in Europe based on the volume of sold vehicles and operated 18 production sites across the world. As of December 31, 2020, PSA employed approximately 204,000 employees. PSA’s business is organized into three divisions: automotive, automotive equipment and finance. PSA generated revenue of €60,734 million and operating income of €3,054 million in the fiscal year ended December 31, 2020. The automotive division covers the design, manufacture and sale of passenger vehicles and light commercial vehicles (“LCVs”), as well as after-sales, maintenance, repair and spare parts operations under PSA’s five brands, Peugeot, Citroën, DS, Opel and Vauxhall.
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