PSA delivered superb numbers in a year that was marked by falling volumes in nearly all the regions it is active in. However, an improved product mix allowed it to increase the ASP by 15% to more than €18,200. This has resulted in a 0.9pp gross margin increase (to 20.9%) and a 0.4pp EBIT margin increase (to 6.3%). Finally, management decided to increase the dividend from the previous year’s €0.78 to €1.23.
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Clearly higher than expected 2019 earnings and dividend
- Published:
26 Feb 2020 -
Author:
Hans-Peter Wodniok -
Pages:
3
PSA delivered superb numbers in a year that was marked by falling volumes in nearly all the regions it is active in. However, an improved product mix allowed it to increase the ASP by 15% to more than €18,200. This has resulted in a 0.9pp gross margin increase (to 20.9%) and a 0.4pp EBIT margin increase (to 6.3%). Finally, management decided to increase the dividend from the previous year’s €0.78 to €1.23.