Auto
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.
Auto
Police Resumes Issuance of Tinted Glass Permit, Gives 30-Day Grace Period

By Modupe Gbadeyanka
In order to tackle the constant harassment of motorists by security operatives over the use of tinted windows in the country, the Nigeria Police Force (NPF) has resumed the issuance of tinted glass permit.
In a statement by its spokesman on Wednesday, Mr Olumuyiwa Adejobi, the police said motorists can now apply for the permit via a digital platform designed to make the process seamless.
The reactivation of the permit system is a strategic move to identify lawful users such as individuals with medical requirements or members of the security community while preventing misuse for criminal activities. It is expected to enhance police investigative capabilities and strengthen national security efforts.
It was disclosed that the secure and user-friendly digital platform for the application of the permit, www.possap.gov.ng, was approved by the Inspector General of Police (IGP), Mr Kayode Egbetokun.
According to the statement, this new system is for a clear, transparent, and accountable process for regularizing factory-fitted tinted glass on vehicles.
With modern automobiles increasingly manufactured with tinted windows, the police said it has become essential to provide a standardized system that accommodates legitimate use while ensuring public safety.
Tinted vehicles have often been exploited for criminal purposes, including kidnapping, armed robbery, one-chance scams, and other forms of banditry.
Their use hampers police visibility and impedes effective law enforcement, thereby contributing to public insecurity.
To ensure a smooth transition, a 30-day grace period has been approved, effective from May 1, 2025, within which motorists are expected to comply. Enforcement will commence at the end of this period.
Mr Egbetokun warned that officers found engaging in unprofessional conduct such as extortion or harassment in the course of enforcement would be decisively dealt with in accordance with extant disciplinary procedures.
Vehicle owners with tinted glasses have been advised to process their permits online, with identity verification integrated through the National Identification Number (NIN) and Tax Identification Number (TIN), alongside biometric capture and background checks.
The system also features QR-coded digital permits, with a streamlined processing timeline of 72 hours.
The IGP reiterated the agency’s commitment to a technologically driven and citizen-focused policing strategy. He urges the public to embrace the initiative in the interest of safer roads, enhanced public trust, and a more secure Nigeria.
Auto
InfraCredit Backs Craneburg N32.5bn Infrastructure Bond for Ekiti Roads

By Adedapo Adesanya
Craneburg EKSG Motorway Company Plc, in collaboration with InfraCredit, has officially signed the final documents for its N32.5 billion 20-Year 22 per cent Fixed Rate Senior Guaranteed Infrastructure Bond issuance.
The signing ceremony, which took place in Lagos, had representatives from guarantor, the issuing houses, legal advisers, and capital market operators in attendance.
The proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
This project forms part of a broader 68km road network designed to unlock intra-state mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
The purpose of funding and constructing, as well as the operation and maintenance of the 68km ring road in Ado Ekiti, Ekiti State is under a design, build, finance, operate, maintain and transfer (DBFOM) concession 20-year arrangement.
Commenting on the development, the Chairman of Chairman of Craneburg Construction Company, Mr Femi Edun, said: “We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product.
“The product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project.
“As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new benchmark for infrastructure development at the sub-national level.”
Also commenting, Managing Director of the lead issuing house, Anchoria Advisory Services Limited, Mr Sam Chidoka, said: “This transaction is a testament to what’s possible when innovation, strong governance, and private sector capital come together in service of national development.
“We are proud to have led the structuring and execution of this landmark bond issuance, the first of its kind in Nigeria’s debt capital market and proud of what it represents, a scalable blueprint for funding an infrastructure project through the capital markets.”
Anchoria Advisory Services Limited served as lead issuing house and bookrunner, supported by Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited as joint issuing houses.
According to a statement, the firm said the landmark transaction sets a replicable precedent for infrastructure financing across Nigeria, paving the way for future PPP-backed issuances where the private sector leads execution, risk sharing is institutionalized, and development is market-driven.
Auto
Lagos to Clampdown on Rickety Vehicles

By Adedapo Adesanya
The Lagos State government has expressed concerns over the growing number of rickety vehicles operating on Lagos roads, saying they pose a risk to commuters and road users in the cosmopolitan city.
The government, through Lagos State Vehicle Inspection Service (VIS), has advised Lagosians to be vigilant and avoid boarding rickety public vehicles known as danfos.
The Director of the agency, Mr Akin-George Fashola, said reassured members of the public that impounded rickety vehicles would not be released for further use.
In a statement via the Lagos Ministry of Transportation on X, formerly Twitter, Mr Fashola said the vehicles, including one he personally apprehended, were in extremely poor condition, describing them as poorly maintained, with outdated parts and lacking essential safety features essentially ticking time bombs on Lagos roads.
He emphasized that rickety vehicles have been linked to numerous accidents in the state, often resulting in loss of lives, injuries, and property damage.
Further highlighting the dangers, Mr Fashola pointed out several critical issues common among the seized vehicles: unstable tires due to expiration, potential brake failure caused by makeshift repairs, and disjointed body compartments weakened by rust all of which render them unfit for commercial use.
He noted that many of these vehicles operate mostly at night, further increasing the risks to unsuspecting passengers, urging the public to prioritize safety by avoiding any vehicle that appears to be in a deteriorated condition.
He added that the VIS is working closely with relevant stakeholders, including road transport unions, to ensure Lagos roads remain safe for all users, encouraging members of the public to report any sightings or experiences with rickety vehicles via the VIS complaint platforms at info@dvis.lg.gov.ng, or through the Ministry of Transportation hotlines: 09020004000 and 09020009000.
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