PSA - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2019 Notes to the Consolidated Financial Statements at 31 December 2019

SHARE IN NET EARNINGS OF EQUITY METHOD INVESTMENTS 11.3.

Latest% interest

2019

2018

2017

(in million euros)

Dongfeng Motor Company cooperation agreement: Dongfeng Peugeot Citroën Automobiles (1) - Dongfeng Peugeot Citroën Automobiles Sales Co -

(383) (225) (158)

(234) (110) (124) (68)

(30) (14) (16) (24)

50% 50% 50%

Changan PSA Automobiles Co., Ltd: Iran Khodro Automobiles Peugeot

(50)

(2)

Saïpa Citroën Company

50%

-

(148)

-

Other entities

(24) (24)

2

1

Others

(146) (448)

(1)

Automotive

(457)

(55)

Automotive equipment

38 29

31

35

GEFCO (1) -

25% 49%

24

17

Peugeot Scooters -

(6)

(11)

(6)

Other activities

23

13

11

Manufacturing and sales activities

(396)

(404)

(9)

Finance companies in partnership with Santander - Consumer Finance Finance companies in partnership with BNP Paribas - Dongfeng Peugeot Citroën Automobile Finance Company - Ltd (1)

50% 50%

280

241 106

201

76

8

25%

16

13

17

Finance activities

372 (24)

360 (44)

226 217

TOTAL

Including goodwill (see Note 11.1). (1)

KEY FINANCIAL DATAOF EQUITY METHOD INVESTMENTS 11.4. The detailed data bout the equitymethod investments are the following. Dongfeng MotorGroup cooperation agreement in the automotive activities A.

PSAGroupandDongfengMotorGrouphavetwo jointventures: DongfengPeugeotCitroënAutomobile(DPCA),basedin Wuhan, n which is subject to joint control and is qualifiedfor accounting purposesas a jointventure.It manufacturesmotorvehiclesunder the DongfengPeugeot, DongfengCitroën brands in China and Fengshen brand;

DongfengPeugeotCitroënAutomobileSalesCo (DPCS),basedin n Wuhan,overwhichthe Grouphas significantinfluence.It markets in China the vehicles produced byDPCA. The amountsbelowrepresentthe combinedfinancialstatementsof DPCA andDPCS.

EARNINGSITEMSAT 100%

In million euros

In million yuans

2019

2018

2017

2019

2018

2017

Revenue

1,781 (315) (463) (406)

3,652 (244) (490) (550)

5,404 13,595 28,339

41,355

Adjusted operating income (loss)

59 (2,441)

(1,918) (3,858) (4,314)

498

Operating income (loss) (1)

(138) (548)

(3,600)

(1,060) (4,172)

Of which depreciation and impairment

(3131) (240)

Net financial income (loss) (1)

(30)

10 12

51

75 96

384

Income taxes, including impairment PROFIT (LOSS) OF THE PERIOD

(272) (765)

26 (2,120)

211

(468)

(61)

(5,960)

(3,687)

(465)

Group’s share in the profit (loss) of the period (Share in net earnings of equity method companies) Income and expenses recognised in equity, net

(383)

(234)

(30)

- -

- -

- -

Other information

Net dividend received from the joint venture(s) by PSA Group

-

-

200

No material impact from IFRS 16 application. (1)

213

PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT