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Groupe PSA 15.4% Rise in Sales Drives Revenue up 20.7%
By Modupe Gbadeyanka
The 2017 financial year was a great one for automaker, Groupe PSA, which boasts of five leading car brands in the world; Peugeot, Citroën, DS, Opel and Vauxhall.
In its 2017 earnings, the group achieved historic results with 15.4 percent increase in its sales at 3.63 million vehicles sold in the period under review, while the revenue appreciated by 20.7 percent to €65.2 billion.
In 2017, group revenue amounted to €65,210 million compared to €54,030 million in 2016 up 20.7 percent. At constant 2015 exchange rates and perimeter, 2017 Group cumulated revenue was up 12.9 percent. PCD Automotive division revenue amounted to €40,735 million up by 9.9 percent compared to 2016.
This increase, according to the firm, was mainly driven by the product mix (+4.5 percent) and the volume and country mix (+4.9 percent) improvement linked to the worldwide success of the group’s new models that more than compensated the negative impact of exchange rates (-1.6 percent). OV Automotive division revenue amounted to €7,238 million in 2017.
Group recurring operating income amounted to €3,991 million, up 23.4 percent compared to 2016, while PCD Automotive recurring operating income grew by 33.3 percent compared to 2016 at €2,965 million.
This 7.3 percent record profitability level was reached despite raw material cost increases and exchange rate headwinds, thanks to a positive product mix and further cost reductions.
In addition, OV Automotive recurring operating income amounted to a €179 million loss in 2017.
Furthermore, group recurring operating margin excluding OV stood at 7.1 percent versus 6% in 2016 and the group recurring operating margin with OV stood at 6.1 percent.
Consolidated net income reached €2,358 million, an increase of €209 million compared to 2016, while the net income, group share, reached €1,929 million compared to €1,730 million in 2016.
It was gathered that consolidated sales in the Middle East & Africa region up a sharp 61.4 percent year-on-year at 618,800 units, of which 26,800 for the OPEL brand, while the group’s overall market share in the region came in at 11.6 percent and has steadily risen since 2015, on target with the Push to Pass plan objective of selling 700,000 vehicles by 2021.
Groupe PSA has continued its product offensive in the region, where it has successfully launched the new CITROËN C3, the new PEUGEOT 3008 SUV, and the new PEUGEOT Pick Up, which marks the brand’s history-making return to its legitimate place in the segment.
OPEL is in the midst of a product offensive in the region having recently launched the new Insignia and Crossland X and with the launch of the new Grandland X slated for early 2018.
For the DS brand, 2017 marked the development of a dealer network across the region ahead of the market launch of the DS 7 CROSSBACK in the coming months.
The Group continued to expand its manufacturing base, breaking ground on the Kenitra plant in Morocco, starting up local production in Kenya and Ethiopia, and signing a memorandum of understanding to set up a new plant in Oran, Algeria.
Furthermore, 7.3 percent Peugeot Citroën DS (PCD) Automotive division recurring operating margin was at a record level, while 7.1% of the Group recurring operating margin, excluding OV and 6.1 percent including OV with a Group recurring operating income was at €3,991 million.
In the period, the company recorded 11.5 percent increase of Net result group share and €1.56 billion positive operational free cash flow.
Commenting on the results, Chairman of Groupe PSA, Mr Carlos Tavares, stated that, “Peugeot Citroën DS outstanding results, making significant progress for the 4th year in a row, are the proof of our ability to deliver a profitable and sustainable growth.
“Our agile, customer focused and socially responsible approach is making the difference. The acquisition of Opel Vauxhall is a great opportunity to boost value creation.”
A dividend of €0.53 per share will be submitted for approval at the next Shareholders’ Meeting, the company said.
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InDrive Fetes Abuja Drivers in Ramadan Shukran Campaign
InDrive, a leading global ride-hailing platform operating in nine African countries, is celebrating Ramadan season with a targeted driver appreciation programme in Abuja, tagged’Ramadan Shukran campaign’, with active Muslim drivers on the platform to receive curated food hampers and personalised thank-you cards.
The initiative, designed to strengthen the company’s relationship with its driver community at a time when many are working long hours while observing the fast, is not based on financial incentives or performance-based rewards but on practical support for the month and a direct expression of appreciation for the role drivers play in the platform’s daily operations.
Four Abuja-based Muslim content creators who understand the social and religious considerations of the period have been delivering 200 hampers across key districts in the city. The hampers, which contain everyday Ramadan essentials to support suhoor and iftar, including staple foods and beverages commonly consumed during the fasting period, come in warm-toned Ramadan packaging and include a handwritten-style card from Indrive with the message “Shukran,” which means thank you.
Each creator is assigned a specific coverage area to ensure broad reach and local relevance, with deliveries taking place around prayer times and fasting schedules, which are captured with the participating drivers’ consent. The campaign, serving as a broader positioning goal to publicly recognise drivers through creator-led storytelling, will further reinforce inDrive’s people-first identity and increase awareness among drivers who are not currently on the platform.
The campaign reflects inDrive’s deliberate shift toward relationship-building through culturally relevant engagement during one of the most significant periods in the Muslim calendar.
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Glovo Unveils New Road Safety Feature for Safety of Nigerian Riders
By Modupe Gbadeyanka
To enhance the safety of riders in Nigeria, a leading multicategory technology company, Glovo, has launched a new road safety feature on its mobile application.
The initiative was introduced in collaboration with the Federal Road Safety Corps (FRSC). It was designed to address key challenges in Nigeria’s fast-growing e-commerce and mobility ecosystem by implementing data-driven preventive measures to enhance road safety.
Also, Glovo has concluded plans with the FRSC to organise a road safety training. This has already been done in Lagos, with the training coming to Abuja on Friday, strengthening rider protection and road safety standards across Nigeria.
The Interim General Manager for Glovo Nigeria, Ms Reni Onafeko, said the new feature reflects the company’s long-term investment in safety, innovation, and responsible business growth in Nigeria.
Ms Onafeko explained that the feature combines advanced technology with structured training to ensure safer roads for riders and the broader public, highlighting the feature’s voluntary opt-in nature, explaining that riders can use it to improve their safety.
“The launch of this new feature reflects our commitment to building a culture of prevention rather than reaction. By equipping riders with real-time data about their riding behaviour, we are empowering them to make safer decisions every day. This initiative is about protection, education, and continuous improvement.
“Our approach combines innovation, partnership, and human-centred design. We are not just introducing a feature; we are reinforcing our responsibility to protect the people who power our platform every day.
“By working closely with regulators and organising safety training for riders, we are contributing to safer roads and a more sustainable ecosystem in Nigeria,” she stated.
In his remarks, the Senior Special Assistant to the Lagos State Governor on Transportation Education and Innovation, Mr Oluwatobi Idowu, noted that the training was a good initiative by Glovo Nigeria, urging riders to take advantage of the unique opportunity to familiarise themselves with the necessary safety rules while driving.
On his part, the Assistant Corps Commander for the Lagos Sector Command of the FRSC, Mr Philip Ogah, who represented the Lagos State Sector Commander, Mr Kehinde G. Hamzat, commended Glovo Nigeria for facilitating a refresher course for riders.
He noted that the training was necessary to help riders be really conscious about their safety, stating that it was better for them to be equipped with such interactive safety tools.
“There are levels of preparation before driving on the road. As a rider, learning is key and a continuous process. This kind of training makes you more informed as you drive.
“As a technological platform, it is good to see that Glovo keeps on ensuring that riders are trained to have a better usage of and better behaviour on Nigerian roads,” the FRSC chief in Lagos stated.
Also speaking, the Head of Operations at Glovo Nigeria, Oluwaseun Okugboye-Bello, explained that the introduction of the safety feature on the Glovo app has become an essential new addition for riders’ self-improvement while collaborating with the platform, noting that it was incorporated into the app to protect riders, commuters, and pedestrians.
At the end of the training session, certificates were presented to 70 participants.
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LAMATA to Boost Red Line Rail Capacity With 24 New Coaches
By Adedapo Adesanya
The Lagos Metropolitan Area Transport Authority (LAMATA) has announced plans to deploy 24 new coaches to boost the capacity of the Red Line rail by the third quarter of 2026.
In a Wednesday statement signed by its Head of Corporate Communications, LAMATA said it acknowledged recent reports and social media footage highlighting passenger discomfort on the Oyingbo-Agbado train service due to technical issues affecting the air conditioning system.
It noted that the plan to provide the 24 new coaches forms part of its long-term strategy to enhance capacity, comfort and service reliability.
“We sincerely apologise to our valued commuters for the heat and inconvenience experienced during their journey.
“As part of our long-term strategy to enhance capacity, comfort, and service reliability, LAMATA is pleased to announce the expected delivery and operationalisation of additional rolling stock by the third quarter of 2026.
“The new acquisition will comprise three train sets, each with eight coaches, bringing a total of 24 additional coaches to strengthen the existing fleet and improve passenger experience across the Red Line corridor,” the organisation stated.
The statement further revealed that the agency has deployed a technical team to diagnose and resolve the cooling system’s failure to return affected coaches to optimal operating conditions.
“In the immediate term, our technical and engineering teams have been deployed to diagnose and resolve the root cause of the cooling system failure. Restoration works are ongoing, and efforts are being intensified to return the affected coaches to optimal operating condition as swiftly as possible.
“LAMATA remains firmly committed to delivering safe, efficient, and world-class rail services. We continue to take proactive measures to minimise technical disruptions and improve overall service quality.
“We appreciate the patience, understanding, and continued support of the public as we complete these essential repairs. The comfort, safety, and well-being of all passengers remain central to our operations,” the statement concluded.
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