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20 UNIVERSAL REGISTRATION DOCUMENT Including the annual financial report 19 PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT -1 CONTENTS MESSAGE OF THE PRESIDENT 2 KEY FIGURES 3 GROUPE PSA 5 CONSOLIDATED FINANCIAL STATEMENTS 1.1. History and highlights of the Company’s business 6 AT 31 DECEMBER 2019 AFR 169 1.2. Organisational structure 7 5.1. Consolidated Statements of Income 170 1.3. Activities and strategy 9 5.2. Consolidated Comprehensive Income 171 1.4. Risk management and internal control 5.3. Consolidated Statements of Financial procedures 21 Position 172 1.5. Risk factors DPEF.B AFR 25 5.4. Consolidated Statements of cash flows 174 1.6. Vigilance plan AFR 45 5.5. Consolidated Statements of Changes in Equity 175 5.6. Notes to the Consolidated Financial DECLARATION ON Statements at 31 December 2019 176 EXTRA-FINANCIAL PERFORMANCE 51 5.7. Supervisory Board’s report: comments by the Supervisory Board on 2.1. Social responsibility: an integral part the Managing Board’s report of the Group’s strategy 52 and on the financial statements 2.2. Embracing environmental issues AFR 55 of the period 258 2.3. Societal commitment to sustainable 5.8. Statutory auditors’ report development AFR 71 on the consolidated financial 2.4. Human resources: driving Groupe PSA statements 260 transformation AFR 77 2.5. Groupe PSA CSR performance 87 PEUGEOT S.A. FINANCIAL 2.6. Report by the independent third party, STATEMENTS FOR THE YEAR on the consolidated non-financial AFR statement included in the Group ENDED 31 DECEMBER 2019 265 Management Report 88 6.1. Income statement for the year ended 2.7. Reporting scope, methodology 31 December 2019 266 and cross-reference tables 91 6.2. Balance sheet at 31 December 2019 267 6.3. Cash flow statements for the year ended 31 December 2019 269 CORPORATE GOVERNANCE AFR 95 6.4. Notes to Peugeot S.A. 3.1. Management and supervisory bodies 96 Financial statements 270 3.2. Compensation of company officers 128 6.5 Company Financial Results for the past five years 286 6.6. Statutory Audit Report on the financial ANALYSIS OF THE BUSINESS statements 287 AND GROUP OPERATING RESULTS 6.7. Statutory Auditors’ Report on related IN 2019 AND OUTLOOK 151 party agreements 291 4.1. Analysis of consolidated interim operating results AFR 152 INFORMATION 4.2. Financial position and cash AFR 155 ABOUT THE COMPANY 4.3. Parent-company results AFR 157 AND ITS SHARE CAPITAL 295 4.4. Major contracts 159 7.1. Information on Peugeot S.A. AFR 296 4.5. Investment 7.2. Information on the share capital AFR 298 in research & development AFR 162 7.3. Ownership structure AFR 301 4.6. Recent events and outlook RFA 168 7.4. Corporate financial instrument markets 303 ADDITIONAL INFORMATION 305 8.1. Persons responsible for the Universal Registration Document AFR 306 8.2. Historical financial information 307 8.3. Documents available to the public 307 8.4. Persons responsible for auditing the accounts AFR 308 8.5. Cross-reference tables 309 Annual Financial Report elements are clearly identified in this table of contents with the sign AFR UNIVERSAL REGISTRATION DOCUMENT including the annual financial report This Universal Registration Document, which contains all the information found in the Management Report, was filed on 21 April 2020 with the Financial Markets Authorities (AMF), the relevant body, in accordance with Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of said regulation. It may be used for the purposes of a public offering of financial securities or the admission of securities to trading on a regulated market if it is supplemented by a prospectus and, where relevant, a summary and all the amendments made to the Universal Registration Document. The entire document filed is approved by the AMF in accordance with Regulation (EU) 2017/1129. 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. GROUPE PSAGROUPE - 2019 PSAUNIVERSAL - DOCUMENT REGISTRATION DE RÉFÉRENCE DOCUMENT 2016 1 MESSAGE OF THE CHAIRMAN OF THE MANAGING BOARD While the start of 2020 is marked by a brutal health record highs, with an adjusted operating margin of crisis, our Group is following a clear line: «Protect the 8.5%, the best in the industry. Reversing 20 consecutive health of its employees and protect the sustainability years of losses, Opel now boasts a margin of 6.5%, only of the business». We have made responsible two years after joining the Group. The Automotive decisions, notably with the deployment of a protocol division’s free cash flow has increased to more than of reinforced health measures across all of our sites. €3 billion in 2019. Our teams are today mobilized and united to prepare for the future in a difficult economic context. For more than six years in a row, with the demanding support of the Supervisory Board, Groupe PSA This future is also confirmed with Group’s ethical management teams have created lasting value for: commitment to the next generations and through a clear and compelling raison d’être: to ensure freedom For more than six years in a row, with the unwavering of movement by providing clean, safe and affordable support of the Supervisory Board, Groupe PSA has mobility for everyone. created lasting value for: ■ Its customers, with a level of quality and level of satisfaction We are doing our part in the global effort to combat that continues to rise. global warming, in line with the objectives of the Paris ■ Its employees, with a 5.4-fold increase in 6 years in (1) Agreement . The CO2 performance was improved by redistribution of the value created, thanks to the maturity an 11g(2) average for our conventional vehicles in 2019, of social dialogue. bolstered by the launch of 10 electrified models(3) and ■ Its investors, with an advantageous dividend policy. the marketing of innovative mobility solutions such ■ All of its partners, with suppliers and business partners as the Citroën Ami. Our resolute policy supports our committed in quest for continued performance improvement. commitment to meeting the 2020 CO2 objectives set by the European Union. Our engagement in society and our economic performance put us in an upfront position to meet the More broadly, our company is recognized as a leading many challenges facing the automotive OEMs. In the socially responsible player in the most prominent difficult context, that our industry faces, the merger CSR indices: Groupe PSA is selected in 9 ESG indices(4) project with FCA is more than ever an opportunity for – and is leader in its industry for 3 of them(5) – and the two companies and will make our combined group is confirmed as a world leader in the low-carbon a world leader, ready to forge ahead into a new era of transition by the CDP(6). sustainable mobility. Efficiency is also a strong lever for a sustainable business and the rigorous implementation of our Push CARLOS TAVARES to Pass strategic plan has taken our profitability to Chairman of the Managing Board of Groupe PSA (1) Groupe PSA objectives in terms of CO2 reduction were scientifically certified in November 2019 by the Science Based Targets initiative (SBTi), as compliant with demanded reduction to maintain global warming under 2°C above preindustrial level, as recommended by the GIEC (2) Passenger vehicles – Registrations in Europe – Scope of CO2 regulations (30 countries) – Internal data (3) 4 BEVs: DS 3 CROSSBACK E-TENSE, Peugeot e-208 and e-2008, Opel Corsa-e; and 6 PHEVs: DS 7 CROSSBACK E-TENSE 4x4, Peugeot 3008 HYBRID, 508 HYBRID & 508 SW HYBRID, C5 Aircross HYBRID, Opel Grandland X HYBRID4 (4) Environment, Social and Governance (5) DJSI, ISS ESG et Vigeo-Eiris (6) The CDP is an international non-profit organization, elected leading provider of climate research by investors. It assesses companies for the completeness of their reporting climate, their management of environmental risks and their demonstration of best practices, such as the setting of ambitious and significant objectives. 2 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT M POR A GLOBAL PRESENCE... RUSSIA Kaluga(11) BELARUS UKRAINE JAPAN(11) CHINA Xiangyang(13) (12) UNITED STATES OF AMERICA MOROCCO Mizushima Casablanca TUNISIA (13) (1) Wuhan (14) Kenitra Tunis (15) Shanghai / Wuhan / Shenzhen Delhi (14) ALGERIA Chengdu MEXICO Oran(2) Shenzhen(15) INDIA VIETNAM Hosur(3) Wukro(9) Chu Lai(6) NIGERIA ETHIOPIA BRAZIL MALAYSIA Kaduna(8) Gurun(7) KENYA Thika(4) Porto Real 208,780 São Paulo URUGUAY CHILE Montevideo(5) Palomar employees in the world ARGENTINA …A EUROPEAN LEADER MANUFACTURING LOCATIONS OTHER LOCATIONS R&D centre Automotive production plant UNITED KINGDOM in partnership THE NETHERLANDS POLAND SALES LOCATIONS Ellesmere in the planning stage Port GERMANY Components factory, casting Countries where the Group operates with Luton Kolin(12) Gliwice a subsidiary that commercializes BELGIUM in partnership Tychy vehicles and / or mobility services CZECH in the planning stage LUXEMBOURG REPUBLICSLOVAKIA Countries where only mobility services of FRANCE AUSTRIA Trnava Assembly plant the Group are commercialized Aspern in partnership SWITZERLAND HUNGARY Szentgotthárd in the planning stage ITALY Industrial partners Vigo (1) STAFIM- (2) Condor Electronics, Palpa Pro and l’Entreprise Nationale de Production de Zaragoza Machines-Outils - (3) CK BIRLA- (4) URYSIA - (5) EASA and Nordex - (6) THACO - (7) Naza Mangualde Automotive Manufacturing – (8) PAN Nigeria Ltd – (9) MIE (Mesfin Industrial Engineering’s) Madrid Val di Sangro(10) - (10) FIAT - (11) Mitsubishi - (12) Toyota - (13) Dongfeng Motor Corp. - (14) Changan PSA PORTUGAL Automobiles - (15) HMFCL (Hindustan Motor Finance Corporation Limited) SPAIN Note: this does not include office facilities, head offices, IT sites, non-automotive businesses, or countries where Group vehicles are sold by an importer.
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