PSA BANQUE FRANCE presentation November 2016
Disclaimer PSA Banque France Group (the “Company”) cautions that this presentation contains forward-looking statements. These forward-looking l statements are found in various places throughout this presentation and include, without limitation, statements concerning our future business development and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: (1) general market, macro-economic, governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates and interest rates; (3) competitive pressures; (4) technological developments; and (5) changes in the financial position or credit worthiness of our customers, obligors and counterparties. The risk factors that we have indicated in our past and future filings and reports, could adversely affect our business and financial performance. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and are based on the knowledge, information available and views l taken on the date on which they are made; such knowledge, information and views may change at any time. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, l including, where relevant any fuller disclosure document published by the Company. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in the presentation. In making this presentation available, the Company gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in the Company or in any other securities or investments whatsoever. Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any l securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000. Note: Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future l earnings (including earnings per share) for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may l differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments my differ materially from those of such subsidiaries. Disclaimer 2 Debt Investor Presentation – November 2016
PSA Banque France Group presentation 1 Business overview 2 Financial policy and funding 3 Appendix 4 PSA Banque France presentation 3 Debt Investor Presentation – November 2016
Introduction PSA Banque France within PSA Group l A global car manufacturer with over two centuries of history Long expertise in the auto financing industry 2015 1810 1919 1919 1929 PARTNERSHIP CREATION OF CREATION OF CITROEN FIRST PEUGEOT FIRST WITH PEUGEOT CITROËN FINANCING FINANCING SCF (1) FRÈRES PRODUCTS PRODUCTS COMPANY 2016 1965 1982 2015 2016 OFFICIAL BPF (1) SOFIB LAUNCH OF INCORPORATION INCORPORATION IN FRANCE DS AUTOMOBILES CAR MANUFACTURING AUTO FINANCING INDUSTRY (1) BPF : Banque PSA Finance. SCF : Santander Consumer Finance PSA Banque France presentation 4 Debt Investor Presentation – November 2016
Overview Feb BPF & SCF COOPERATION IN FRANCE 8.9 € bn 27.7 % FINANCIAL SUPPORT OF SCF 15 OUSTANDING NEW CAR LOANS (1) PENETRATION (END USERS & Dec INVESTMENT GRADE RATING RATE (1) DEALERS) Baa2 / P2 / POSITIVE OUTLOOK (MOODY’S) 15 DEBT ISSUANCE PROGRAMMES Jun 2.3x 1.4 € bn FIRST NEU CP ISSUED 16 INSURANCES NET RETAIL & SERVICES DEPOSITS PER NEW AMOUNT PSA BANQUE FRANCE Jul CONTRACTS COLLECTED (1) 16 NEW CORPORATE NAME (1) June 2016 PSA Banque France presentation 5 Debt Investor Presentation – November 2016
Timeline PSA Banque France Group l Recent developments Funding sources diversification 02/14 : Exclusive negotiation between 01/15 : Acquisition of SOFIRA & SCF & BPF (1) CREDIPAR by PSA Banque France 07/14 : Framework 04/15 : DISTINGO (2) French activity 12/15 : Inaugural rating 11/16 : Debt agreement (partnership transferred to PSA Banque France delivered by Moody’s investors presentation covering 11 countries) 01/14 01/15 01/16 04/16 : Rating confirmed 05/15 : Absorption merger 04/14 : “BACK IN THE RACE” plan of SOFIRA by CREDIPAR 11/16 02/15 : PSA Banque France Group Formalized cooperation after ECB’s authorization Financial support of BPF (until 02/15) Financial support of SCF (02/15) Securitizations (02/15) DISTINGO (2) activity (04/15) Bilateral credit lines (06/15) Constitution of HQLA (07/15) Participation in TLTRO (09/15) Issuance of NEU CP (06/16) Issuance of NEU MTN (07/16) (1) SCF : Santander Consumer Finance. BPF : Banque PSA Finance (2) DISTINGO is the online retail saving business in France PSA Banque France presentation 6 Debt Investor Presentation – November 2016
PSA Banque France Group since 2015 Joint-venture with SCF l BPF (1) , historical shareholder SCF (2) provides financial support 50% COMPAGNIE COMPAGNIE GÉNÉRALE DE POUR LA PSA 100 % LOCATION DE CRÉDIT AUX 100% BANQUE VÉHICULES PARTICULIERS (3) FRANCE – – 50% CREDIPAR CLV CONSUMER FRANCE (1) Banque PSA Finance is held at 100% by PSA Group (2) Santander Consumer France is held at 100% by SCF (Santander Consumer Finance) (3) PSA Banque France is a credit institution approved under the supervision of ECB regulator since December 2015 while continuing to send the required information to the French regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR) PSA Banque France presentation 7 Debt Investor Presentation – November 2016
8 Debt Investor Presentation – November 2016
Presentation of PSA Banque France Group 1 2 Business overview Financial policy and funding 3 Appendix 4 Cooperation highlights 9 Debt Investor Presentation – November 2016
French new car registrations (2015 / 2014) 507; +7.5% Renault 22.1% 471 387; +6.3% Peugeot 16.9% 364 260; -0.9% Citröen 11.3% 263 160; +2.1% 7.0% VW 157 103; +8.3% Ford 4.5% 95 100; -5.5% 4.4% Dacia 105 87; +13.1% 3.8% Fiat 76 81; +6.1% 678,148 CARS (+2.9%) * Nissan l 3.5% 77 77; +7.7% Toyota 3.4% 71 29.5% MARKET SHARE l 1 ST FRENCH MANUFACTURER 74; +10.7% 3.2% Mercedes 67 2 ND EUROPEAN (11.5%) 71; +6.2% Opel 3.1% 67 60; +3.9% Audi 2.6% 57 54; +12.4% BMW 2.4% 48 31; -5.2% DS 1.3% 32 29; +3.3% Kia 1.3% 28 24; +39.2% Hyundai 1.1% 17 MARKET SHARE 2015 CUMUL 2015 CUMUL 2014 2014 * Global car market : 2 297 thousands cars (+ 5,9%) PSA brands Business overview 10 Debt Investor Presentation – November 2016
French new car registrations (H1 2016 / H1 2015) 299; +10.9% Renault 22.7% 269 222; +7.6% Peugeot 16.8% 206 144; +5.5% Citroen 10.9% 137 86; +0.8% 6.5% VW 86 63; +12.2% Dacia 4.8% 56 58; +2.9% 4.4% Ford 57 55; +16.4% 4.2% Fiat 47 44; -0.6% 383,246 CARS (+6.8%) Nissan l 3.3% 44 43; +8.8% Opel 3.3% 39 29.0% MARKET SHARE l 42; +6.1% 3.2% Toyota 40 38; +10.6% Mercedes 2.9% 35 34; +13.5% Audi 2.6% 30 31; +21.4% BMW 2.4% 26 18; +18.7% 1.3% Kia 15 17; +7.4% DS 1.3% 16 14; +18.2% Hyundai 1.1% 12 MARKET SHARE H1 2016 H1 2015 PSA brands Business overview 11 Debt Investor Presentation – November 2016
Strength of business model Proven track record over decades l Resilience throughout the crisis Customer relationship at the heart of the strategy SALES PSA CONQUEST CONQUEST FINANCING LOANS, LEASES CAPTIVE SUPPORT INSURANCE LOYALTY LOYALTY COMPANY PRODUCTS AND SERVICES CAR, LIFE, UNEMPLOYMENT MAINTENANCE, WARRANTY EXTENSION DEALERS & AGENTS RISKS STRONG CONTROL END-USER CAPITAL BASE PASSBOOK SAVINGS ACCOUNT RELATED TO END- CUSTOMERS AND USER CUSTOMERS PROFITABILITY AND DEALERS FINANCING Business overview 12 Debt Investor Presentation – November 2016
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