Groupe Psa- 2017Registration Document

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Groupe Psa- 2017Registration Document 20 REGISTRATION DOCUMENT Including the annual financial report 17 WorldReginfo - 12e0dd22-103b-4525-8946-4bb44ed6ed1a GROUPE PSA - 2017 REGISTRATION DOCUMENT -1 CONTENTS MESSAGE OF THE PRESIDENT 2 KEY FIGURES 3 GROUPE PSA 5 5.6. Notes to the consolidated financial Statements at December 2017 167 1.1. History and Highlights of the Company’s Business 6 5.7 Report of the Supervisory Board : observations of the supervisory board 1.2.Organisational Structure 7 on the report of the Managing board 1.3.Activities and Strategy 9 and on the 2017 consolidated financial 1.4. Risk Management and internal Control statements 240 Procedures 20 5.8 Statutory Auditors' report on the 2017 1.5. Risk Factors AFR 24 consolidated financial statements 241 1.6. Vigilance Plan AFR 33 PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR DECLARATION ON ENDED 31 DECEMBER 2017 AFR 245 EXTRA-FINANCIAL PERFORMANCE 35 6.1 Income Statement for the year ended 2.1. Social responsibility: an integral part 31 December 2017 246 of the Group’s strategy 36 6.2Balance Sheets at 31 December 2017 247 2.2. Embracing environmental issues AFR 40 6.3 Cash flow Statements for the year 2.3. Corporate sustainable Development ended 31 December 2017 248 Commitment AFR 60 6.4 Notes to Peugeot S.A. 2.4. Human Resources: financial Statements 249 Enabler of Performance AFR 69 6.5 Company financial Results for the past 2.5.Groupe PSA’S CSR Performance 89 five years 264 2.6. Report by an independent third-party 6.6. Statutory auditeport on the financial Body on the consolidated Human statements 265 Resources, environmental and social Information included 6.7. Statutory Auditors’ Report on Related in the Management Report 90 Party Agreements and Commitments 268 2.7. Reporting Scope, Methodology and cross-reference Tables 93 INFORMATION ABOUT THE COMPANY AND ITS SHARE CAPITAL 271 CORPORATE GOVERNANCE AFR 97 7.1. Information about the Company AFR 272 3.1.Management and Supervisory Bodies 98 7.2. Information about the Company’s 3.2.Compensation of Corporate Officers 125 Share Capital AFR 274 7.3. Ownership Structure AFR 277 ANALYSIS OF THE BUSINESS 7.4.Corporate financial Instrument Markets 279 AND GROUP OPERATING RESULTS IN 2017 AND OUTLOOK 141 COMBINED SHAREHOLDERS’ 4.1. Analysis of consolidated annual MEETING ON 24 APRIL 2018 281 results AFR 142 4.2. Financial position and cash AFR 144 8.1.Agenda 282 4.3. Parent-company Results AFR 146 8.2. Report of the Managing Board on the Resolutions presented at the Combined 4.4.Major Contracts 148 Shareholders’ Meeting on 24 April 2018 283 4.5. Capital Expenditure in Research 8.3.Text of the proposed Resolutions 297 & Development AFR 149 8.4.Auditor’s ReporS 303 4.6. Recent Events and Outlook AFR 155 CONSOLIDATED FINANCIAL ADDITIONAL INFORMATION 307 STATEMENTS AT 31 DECEMBER 2017 AFR 157 9.1. Persons responsible for the 5.1.Consolidated Statements of Income 158 Registration Document AFR 308 5.2.Consolidated comprehensive Income 160 9.2.Historical financial Information 309 5.3.Consolidated Balance Sheets 162 9.3.Documents available to the Public 309 5.4.Consolidated Statements of cash flows 164 9.4. Persons responsible for Auditing 5.5. Consolidated statements of changes the Accounts AFR 310 in equity 166 9.5.Cross-reference Tables 311 Annual Financial Report elements are clearly identified in this table of contents with the sign AFR WorldReginfo - 12e0dd22-103b-4525-8946-4bb44ed6ed1a REGISTRATION DOCUMENT including the annual financial report The original French version of this Registration Document, which contains all of the information in the Management Report, was filed with the French securities regulator (Autorité des Marchés Financiers – AMF) on 28 March 2018, in accordance with the provisions of Article 212-13 of the AMF General Regulations. It may be used in connection with a financial transaction in conjunction with an Offering Memorandum approved by the AMF. It was prepared by the issuer and is the responsibility of the person whose Signature appears therein. It contains all of the information concerning the Annual Financial Report WorldReginfo - 12e0dd22-103b-4525-8946-4bb44ed6ed1a GROUPE PSA -- DOCUMENT2017 REGISTRATION DE RÉFÉRENCE DOCUMENT 2016 1 MESSAGE OF THE PRESIDENT OF THE MANAGING BOARD Two years after the launching of our Push to Pass strategic plan, However, running a business transcends achieving annual business Groupe PSA is continuing to accelerate, is establishing new and sales objectives, and also calls for forecasting skills. records – in sales, revenue and earnings – and is changing scale More than ever, we must be Darwinian and agile, leveraging the with the acquisition of Opel Vauxhall. strength of our three markers: Four years after experiencing a worrying economic situation, we p Performance, since performance is the only safeguard. now have sound fundamentals, and our earnings are strengthened Financial performance and non-financial performance feed daily thanks to the commitment of the teams who place efficiency, from one another: in September 2017, Groupe PSA became the satisfaction of our customers and the quality of our products our industry’s leader in the Dow Jones Sustainability Index, and at the heart of their concerns. is included in all the world-leading SRI indices(1); For the last four years, our sales drive has been backed by the p Responsibility, which guides us daily in committing ourselves rigorous deployment of our core model strategy in support of an to decisions for which we shall answer in the future. Our unprecedented product offensive, featuring the launch of six new Group has a long-standing commitment to Corporate Social SUVs in 18 months and the phased renewal of the light commercial Responsibility. It has consistently renewed its endorsement of vehicle range. the principles of the ILO and the Global Compact, and supports All our new products are commercially successful, enjoying the 17 Global Sustainable Development Goals published in recognition by the experts. After the Car of the Year award September 2015 by the UN Member States, a roadmap for obtained in 2017 by the Peugeot 3008, the Autobest prize was tackling issues of public concern on a world scale. awarded in 2018 to the new Citroën C3 Aircross. In 2018, we shall continue to deploy our Global Framework Our Core Technology Strategy meets consumer expectations and Agreement on Social Responsibility signed with the IndustriAll places us on track to offer electric versions across our whole range trade-union federation, and we shall involve ourselves in the of models in 2025. actions conducted and share in the results achieved; p Transparency, since responsibility cannot forego transparency 2017 also marked a turning point in history of Groupe PSA, in creating sustainable value. which now includes the Opel and Vauxhall brands in addition We will unhesitatingly overturn the codes by undertaking to the Peugeot, Citroen and DS brands, and our mobility brand innovative actions with demanding stakeholders, as with our Free2move. commitment, unique in the automotive industry, to publish in Constructing a European champion gives us strength to secure 2018 the nitrous-oxide emissions of our vehicles in real-life use, the foothold in our historic region, as well as providing a wonderful following on from the publication in 2017 of the findings at our opportunity to reinforce our international positions by offering our brand sites of fuel consumption under real driving conditions. customers the best of our know-how and expertise world-wide. Groupe PSA is more than ever committed to creating value. This buoyant context has been made possible through mature We are steeling ourselves as of today to achieve the goals set social dialogue with the unions and through multi-year agreements, for 2018 which will mark the end of the first phase of the Push to such as the “New Momentum for Growth” performance agreement Pass plan and the first full year of implementation of the PACE! signed in 2016 by five unions out of six, representing 80% of plan for Opel Vauxhall. employees, or the new framework agreement signed in Germany with the IG Metall union and the Opel Works Council in 2017, in As agents of our performance, we shall continue to seek optimum addition to the agreements covering all European countries. satisfaction for our customers, our shareholders, the Groupe PSA employees and, on a wider canvas, for our stakeholders, in order Group employees can be proud of these results and the to make 2018 another successful year! progress made in 2017 which reflect both individual and collective commitment every step of the way. To conclude, we shall live up to our mission in order to respond to the legitimate and growing demands for mobility, which is The excellent results obtained in 2017 thus afforded payment to synonymous with freedom of movement. employees of the fruits of growth and performance, through a redistribution which has been multiplied four fold in four years. This is responsibility’s claim on us! Our shareholders will enjoy a dividend payment of €0.53 per share CARLOS TAVARES in 2018, which will be put to the vote of the Shareholders’ General Meeting on 24 April 2018. This direct result reflects performance in 2017, when the Group had already resumed payment of dividends the year before (of €0.48 per share). (1) Socially Responsible Investment. WorldReginfo - 12e0dd22-103b-4525-8946-4bb44ed6ed1a 2 GROUPE PSA - 2017 REGISTRATION DOCUMENT A GLOBAL PRESENCE… RUSSIA Kaluga(16) BELARUS UKRAINE Kostanai(12) Minsk(13) KAZAKHSTAN JAPAN UZBEKISTAN
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