2019 FY RESULTS - Groupe PSA
2019 FY RESULTS26 February 2020
DISCLAIMERThis presentation does not constitute an offer to sell, or a solicitation of an offer to buy, PEUGEOT SA(“Company”) shares.This presentation may contain forward-looking statements. Such forward-looking statements do not constituteforecasts regarding the Company’s results or any other performance indicator, but rather trends or targets, asthe case may be. These statements are by their nature subject to risks and uncertainties as described in theregistration document filed with the French Autorité des Marchés Financiers (AMF). These statements do notreflect future performance of the Company, which may materially differ.The Company does not undertake to provide updates of these statements.More comprehensive information about Groupe PSA may be obtained on the Group website(www.groupe-psa.com), under Regulated Information.2
PUSH TO PASSNEW PROFITABILITY RECORD IN 2019PCD5.0%6.0%7.3%8.4%Automotive Adjusted Operating Margin*7.6%0.2%2013201420152016201720188.5% 4.5%average5.9%-2.8%4.7%2017OV2018-2.5%Actual figures2017201820192021Push to PassTargets* Adjusted Operating Income related to revenue, including OV since August 1st 20173208RALLY4OpelCorsa e-Rally
A RESPONSIBLE COMPANYCOMMITTED TO TACKLE CLIMATE CHANGETargets approved by SBTi (1) as consistentReal Estate streamlining(2)with the Paris Climate Agreement-5.2% CO2(-23,000 tonnes)-6% m2(-800,000 m2)20182019Steering a clean, safe and affordable mobilityCDP (3) « A-List » since 2016: Groupe PSA recognized as leader of low carbon transitionGlobal CSR performance: Groupe PSA recognized by 9 Awards o/w 3 sector leaders (4)(1) by the Science Based Targets Initiative on November 14th 2019(2) built square meters of all sites of Groupe PSA perimeter(3) The Carbon Disclosure Project(4) DJSI, ISS-oekom & EURONEXT VIGEO EIRIS.4
POWER IS INSIDESHARED VALUESWin togetherAgilityEfficiencyTREMERY – e-Powertrain line45
FINANCIALRESULTS
FINANCIAL RESULTSRECORD NET INCOME GROUP SHAREIn million Euros20182019ChangeRevenue74,02774,731704Adjusted Operating r operating income & expenses(238)(125)113Operating income4,4004,668268Net financial income (expenses)(446)(344)102Income taxes(615)(716)(101)Share in net earnings of companies at equity*(44)(24)20Consolidated net income3,2953,584289Net income, Group Share2,8273,201374% of revenueRestructuring costs7* See detail in attachments
REVENUE 1.0%: GROUP REVENUEIn million EurosGroupAutomotive divisionFaurecia74,73174,02758,94358,553 1.0% 0.7%17,76817,525 1.4%2018201920182019201820198
AUTOMOTIVE REVENUE ANALYSISSTRONG PRODUCT MIXIn million EurosFXVolume &Country MixPriceProductMixSales toPartnersOthers-0.5 %-2.4 % 1.2 % 4.3 %-1.7 %-0.2 %58,94358,553Variation: 0.7%201820199
CONSOLIDATED WORLDWIDE SALES (1)GROUPE PSA SALES AT 3.5 M UNITSIn thousands units-10.3%-2.8%-43.7%-55.4%-22.5% 0.6% 2.3% 11.0% w/o Iran-6.8% w/o Iran3,8783,4793,106 3,0202018201929216426311717513626Total ConsolidatedWorldwide SalesEurope(1) Assembled Vehicles, CKDs and vehicles under license(2) Including 144 kunits sold in 2018 under Peugeot License by Iran KhodroMiddle-East& Africa (2)China &SE AsiaLatinAmerica27India &Pacific1516Eurasia10
GROUP ADJUSTED OPERATING INCOME & MARGIN 11.2%: ROBUST GROWTHIn million Euros and as % of revenueGroup*Automotive DivisionFaurecia6,3245,0375,6898.5% 11.2%4,466MARGIN* 2018* Breakdown in 11
AUTOMOTIVE ADJUSTED OPERATING INCOME 12.8%: STRONG PERFORMANCEIn million EurosMarketDemandInputCostsForex& OtherPrice& ProductEnrichmentProductMixMarketShare &CountryMix(42)(201)(243) 102 818(253)ProductionSG&A&ExpensesProcurement 352 188R&DOthers(159) 95,0374,466OperatingEnvironment: (486)Performance: 1,05720182019Variation: 12.8%12
BANQUE PSA FINANCERECORD CONTRIBUTION OF BANQUE PSAIn million EurosAdjustedOperating IncomePenetration RateCost of Risk*100% basis1,01293929.7% 7.8%29.1% 0.6 pt2018* In % average loans201920180.21%0.13% 0.08 pt20192018201913
AUTO NET FINANCIAL POSITION (1) 3,265M AUTO FREE CASH FLOWIn million EurosAutoNet FinancialPositionafter IFRS16AutoNet FinancialPositionAutoNet FinancialPosition 10,606 9,643 8,871-772IFRS16effectCash Flow 6,543RestructuringChangein WCR(966) 1,141Capex &Capitalised R&DExceptionalCapexBPF dividendsOther (2) 29 97(1,530)(3,579)End 2018End 2019Auto Free cash flow 3,265M(1) Auto: PCDOV Holding(2) Including dividends to Group shareholders (- 697M) and DFG share repurchase debt ( 667M)14
GROUP NET FINANCIAL POSITION (NFP) (1)IMPROVING NFP INCLUDING CLARION ACQUISITIONIn million EurosGroupNet FinancialPositionGroupNet FinancialPositionafter IFRS16GroupNet FinancialPosition 9,098 7,914 7,600-1,498IFRS16effectCash Flow 8,545Restructuring(1,161)Changein WCRCapex &Capitalised R&DExceptionalCapex (2)BPF dividendsOther (3) 1,173(5,008)(901) 97(2,431)End 2019End 2018Group Free cash flow 2,745M(1) Manufacturing and Sales Companies(2) Including acquisition of Clarion (- 969M) by Faurecia(3) Including dividends to Group shareholders (- 697M), dividends to minority interests (- 133M), Clarion debt situation (- 240M), new Ieasing debt under IFRS16 (- 420M) and DFGshare repurchase debt ( 667M)15
INVENTORIES AT TARGET LEVELIn thousands of new vehicles (1)Automotive division inventories680606Group inventory164112Independent dealers inventory (2)(1) World figures excluding JV (China and Iran)(2) Including Peugeot importers inventory outside Europe5164942018201916
OUTLOOK2020 Market Outlook (1)EUROPECHINA-3%?Operational OutlookDeliver over 4.5% Automotive AdjustedOperating Margin (2) on average in 2019-2021LATIN AMERICARUSSIAstable-2%(1) Market forecasts based on internal sources (PC LCV) ; for China, passenger carsonly and excluding imports ; Latin America Argentina Brazil Chile Mexico(2) Automotive division Adjusted Operating Income related to Revenue17
PUSH TO PASSHIGHLIGHTS
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A GREAT CAR MAKERCUTTING EDGE EFFICIENCYQUALITYFIRSTCORE MODEL& 20
QUALITY FIRST ALWAYSTARGET Nº 1 IN CUSTOMER SATISFACTIONProduct manufacturing-142018Sales customer 018-132019Gap Industrial Direct run ratiovs benchmark2019Aftersales customer satisfactionGap Sales customer recommendationvs benchmark-4benchmark20192021Gap Aftersales customer recommendationvs benchmarkIn Europe (G5): Top 3 for Sales customer satisfaction, Top 5 in Aftersales satisfaction*In Europe (G5), Product Overall Satisfaction* :Peugeot brand ranked N 2 and DS brand N 3 in their categoriesPeugeot 3008 N 1 and Citroën C5 Aircross N 3 in their categoriesContinuous regional convergence: in Brazil, Top 3 in customer satisfaction (Sales & Aftersales)** Source: rankings based on internal benchmarking monitoring21
CO2 EUROPE REGULATIONCO2 DRIVEN COMPANY AS A COMPETITIVE EDGEICE vehicles CO2 emissions*PC -11.3 g/kmLCV -5.7 g/km141.9 g116.9 gDec 2018CO2 2020 Compliance from Day 1*136.2 g105.6 gDec 2019Passenger Cars ICE CO2: on track LEV mix: on trackLight CommercialVehicles55 Dec 2018Achieved 1 year in advanceDec 2019CO2 Committee as a strong enabler for compliance from Day 1A matter of ethics based on a relevant Core model & Core techno strategyContinued ICE upgrades and state-of-the-art multi-energy platforms and technologyWith 10 electrified models on salePeugeot e-208* Registrations on Europe CO2 regulation perimeter (30 countries) as per internal data22
e-MOBILITYA CUSTOMER CENTRIC tibilityCarDependantPool carB2CB2BB2CB2CMaximumRange y & Country SideBEVBig MileageUserHighwayPHEVICEProposing the right offer according to usage and requirements of customersAn ecosystem of connected services to simplify and optimize the shift to electro mobilityCharge My Car (access to 150,000 charging points in EU) e-Remote Control Mobility PassTCO approach for hassle free transition for all customers through attractive financingTrip Planner servicee-CMP23
e-MOBILITYIN CONTROL OF AN ELECTRIFIED FUTUREVertical integration from e-components to battery of the futuree-MotorNIDEC – PSAe-motors JVe-TransmissionReduction gearBattery packPUNCH POWERTRAIN - PSAe-transmissions JVDesign & ManufacturingDesign & ManufacturingBattery cellsSAFT – PSA / OPELACC* ProjectDesign & ManufacturingIn-house AssemblyDesign & ManufacturingIncremental approach to master technology and integrate in-house the whole value chainNew e-components for BEV, PHEV and MHEV applications from 2022Strategic move to create a leading player in battery cells & modules with ACC* projectFirst customer fleet of fuel cell vans on the road in 2021Solid-state battery* Automotive Cells Company24
CORE EFFICIENCYTARGETING TO BE THE MOST EFFICIENT CARMAKERProduction cost savings in EuropeWages to revenue ratio /veh. over 2019 - 2021, including Euro 6, raw mat and air freight(Auto division excluding own dealer network)700 20182019202111.1%10.5%10.0%111 2019Target 2019-21Reducing technical complexity to preserve brand positioning, competitiveness and profitabilityLowering the breakeven point to a record 1.8 m unitsKeeping R&D and Capex spending to the benchmark levelKey new labour agreements to further boost industrial competitiveness25
PEUGEOT – THE BEST HIGH-END GENERALIST BRAND# UNBORING THE FUTUREPricing Power vs benchmark2019-202120152018 1% 0.1%2019-1.2%-1%Push to Pass target-2.4%Pricing power in Europe: Peugeot has reached a further stageRecord profitabilityMarket share: -0.1pt. Strong rebound targeted in 2020 with new 208 & 2008Improved customer satisfaction and brand imagePeugeot5082008HYBRIDPeugeotPEUGEOT 2008208PEUGEOT 200826
CITROËN – THE PEOPLE MINDED BRANDINSPIRËD BY YOU ALLPricing Power vs benchmark 7.2%2019-2021 5% 4.7% 3% 3%Push to Pass target201520182019Strongest growth of the Top 12 brands in Europe with a gain of 0.2 pt market share*New C5 Aircross SUV: more than 100,000 sales in 2019Electrification for all under way: 6 electrified models in 2020Citroën goes to India: C5 Aircross SUV in 2020 followed by C Cubed program from 2021Citroën C5 Aircross SUV Hybrid* Europe 30 (PC LCV), 2019 vs 201827
DS – FRENCH AVANT-GARDE EXCLUSIVE EXPERIENCESCALING UPPricing Power vs benchmark 2.3% 1.9%2019-2021 1%201520182019-1%Push to Pass target-7.9%DS is growing: consolidated world sales 16%Premium level profitability per unitBrand awareness* varying from 68% to 96% across Europe among Premium IntendersDS 7 CROSSBACK is N 2 best-selling Premium model in France* Assisted awareness in the 5 key European countriesDS 928
OPEL – BRINGING GERMAN ENGINEERING, INNOVATION & DESIGN TO THE PEOPLE SINCE 1899PACE! 2026 TARGET ACHIEVED IN 2019Pricing power gap vs benchmark2017 (1)2018201920210%-3%-3.7%Push to Pass target-6.0%-8.2%Historic record adjusted operating profit of 1.1bn and 6.5% adjusted operating marginOpel goes electric! with new Corsa-e and Grandland X Hybrid4LCVs sales growth 20% driven by new Combo and Vivaro (2)Opel back in Russia in 2019, further international expansion ahead (Japan, Ecuador, Colombia)(1) August until December(2) Europe 30, 2019 vs 201829New Opel Corsa
EUROPESTEERING A PROFITABLE CO2 TRANSITIONConsolidated sales (‘000)3,10620183,0202019Market share (1)17.1%201816.8%2019Focus on profitability coupled with upfront preparation to CO2 complianceGrowing revenues & earnings with market share 0.1 pt for PCD & -0.4 pt for OV(2)OV CO2: 20 g/km gain in 2019 thanks to PSA technology rollout & portfolio optimizationContinuous product momentum with Peugeot 208 & 2008, DS 3 CROSSBACK & Opel Corsa(1) Europe 30 (PC LCV)(2) Versus 201830
MIDDLE EAST & AFRICALEVERAGING INVESTMENTS FOR PROFITABLE GROWTHConsolidated sales (‘000) (1)Market share (1)1641485.1%4.7%2018201920182019Volumes growth despite difficult market conditions (Turkish market -23%)Market share up in Turkey ( 2.1pts), Algeria ( 2.4pts), Morocco ( 2.1pts), Egypt ( 6.1pts) (2)Product offensive on-going: Peugeot 208 and 2008, Opel Corsa as well as vansFirst year of Kenitra plant operations(1) 59 countries, including: Algeria, Israel, Morocco, Tunisia, Turkey, South Africa and excluding Iran sales(2) Versus 201831
CHINA & SOUTH-EAST ASIARESHAPING THE BUSINESS MODELConsolidated sales (‘000)Market share (1)2631170.9%0.4%2018201920182019‘Yuan’ plan launched: reducing breakeven point underway & downsizing of industrial footprintIAM parts distribution revenues 91% (2) with Jian Xin, LongXinda and UAP acquisitionsNew business model for DS in ChinaNEV offensive in China: 5 new NEV models to be launched in 2020Peugeot 508 LPeugeot e-2008(1) China and South East Asia(2) Versus 201832
LATIN AMERICAPREPARING FOR REBOUND IN 2020Consolidated sales (‘000)175136Market share (1)3.4%2.7%201820192018Sales volumes -23% with a strong hit from Argentinean market (-43%)2019(2)Sales volumes 2% (2) in Brazil thanks to the success of SUV C4 Cactus and LCV offeringOpel regional expansion: regs. 19% in Chile (2), launch in Colombia & Ecuador in 2020CMP platform introduction, preparing the launch of new Peugeot 208 and Landtrek 1t pick-upPeugeot 208(1) G4: Argentina, Brazil, Chile, Mexico(2) Versus 201833
INDIA PACIFICSTARTING PRODUCTION IN INDIAConsolidated sales (‘000)262018Market share (1)2720190.2%0.2%20182019Strong success in Japan: sales 20% (2) ahead of Opel launch in 2021LEV offensive in 2020 in Japan & Korea: Peugeot e-208 and e-2008 & DS E-TENSE modelsIndia: engine & components factory rollout and C Cubed program to followIncreasing local sourcing through purchasing hub in IndiaPHOTO DE L USINE(1) Including: Australia, India, Japan & South Korea(2) Versus 201834
EURASIALEVERAGING OPEL BRAND POTENTIAL IN RUSSIAConsolidated sales (‘000)Market share (1)15160.8%0.8%2018201920182019Return to profitability in 2019Commercial success of locally manufactured vans (Expert/Traveller/Jumpy)Volume growth in Ukraine twice faster than the market ( 33% vs 13%) (2)Opel re-launched in Russia with Zafira Life in Q4 2019 & Grandland X in Q1 2020Opel Zafira LifeOPEL ZAFIRA LIFE(1) G4: Russia, Ukraine, Belarus, Kazakhstan(2) Versus 201835
LCVSUCCESSFUL VANS IN A GROWING EUROPEAN MARKETConsolidated sales in Europe* (‘000)LCV market share in ort & FamilyvansLCV24.7%20182019Transport & FamilyvansOpel Vauxhall: a gain of 0.6 pt market share in Europe*Extended cooperation with Toyota in EuropeNew e-LCV range starting in 2020 with Peugeot Expert, Citroën Jumpy and Opel VivaroOverseas development to be boosted by Peugeot Landtrek new pick-upNew Peugeot Landtrek* Europe 3036
A GARMOBILITYE A T C APROVIDERR MAKERFOR A LIFETIME CUSTOMER ED CARSNEWCUSTOMERSCONNECTEDAND MOBILITYSERVICESHASSLE FREEMOBILITYNORTHAMERICA10 YEARPROJECTENLARGE OUR CUSTOMER BASE37
MULTIBRAND AFTERMARKETACCELERATING AFTERMARKET GROWTHIAM spare parts revenue growth (1)IAM spare parts revenue growthoutside of Europe (1) 35% 70%2018201920182019Focus on profitable growth in and outside EuropeSignificant gains achieved thanks to PCDOV shared supply chain synergies (-6% logistics costs)(2)Strong development of IAM strategy in all regions (Europe, Latam, China)5,000 Eurorepar Car Service garages in 26 countries: 23% (2)(1) All parts excluding Groupe PSA original parts(2) Versus 201838
USED CARS, NEW CUSTOMERSCONTINUAL STRONG DEVELOPMENTUsed cars revenue growth*Used car sales and transactions (‘000) 6%7422018201920187862019Strong increase of profitabilityAramis Group 27% turnover*Stepping up international expansion: transactions 37% in Latin America, 27 k professionalson FengChe platform in ChinaSpoticar multibrand label active in key European countries* Versus 2018 including Cardoen integration since August 201839
HASSLE FREE MOBILITY THANKS TO FINANCIAL SERVICESNEW RECORD YEARNet Banking Revenue(in million euros) (1)Number of cars financedto end users (‘000)1,6631,49520181,1501,088201920182019Record Net Banking Revenue 11% (1)5th year growth in a row: Net Contributive Result x4 since 2014Record B2C penetration: one in two customers financed by PSA BanqueOpel Vauxhall Finance strong improvement: penetration rate 5 pts ( 10 pts in B2C) (2)(1) Excluding PPA effect, versus 2018(2) Versus 201840
MOBILITY & CONNECTED SERVICESFREE2MOVE IS TAKING OFFWorldwide revenues (in million euros)Number of active B2C Customers (‘000) 43%x2.417750012420181,200201920182019One single brand, a full range of B2C and B2B offers. Up to 19% of aided awareness.Fleet Management: 550 k contractsFree2Move Rent: strong profitable growthMobility Services in support of electric expansion41
GROUPE PSA READY TO FACE NEW CHALLENGES Strong profitability and Free Cash Flow generation CO2 as a competitive edge Flawless execution based on a successful business model and strong values42
Q&A
ATTACHMENTS
ATTACHMENTCONSOLIDATED WORLDWIDE SALESUnits (1)Europe (2)Middle East &Africa (3)China & South East AsiaLatin AmericaIndia-PacificEurasiaPeugeotCitroënDSOpel VauxhallTotal PSAPeugeotCitroënDSOpel VauxhallTotal PSAPeugeotCitroënDSOpel VauxhallTotal PSAPeugeotCitroënDSOpel VauxhallTotal PSAPeugeotCitroënDSOpel VauxhallTotal PSAPeugeotCitroënDSOpel VauxhallTotal 9-2,9% 0,8% 21,4%-6,8%-2,8%-62,3% 23,5% 30,5% ,2%-15,0%-1,4%-22,5%-6,2% 17,2% 52,3%NS 0,6% 0,7%-1,4%-29,8% 220,0% 2,3%(1) Assembled Vehicles, CKDs and vehicles under license(2) Europe EU EFTA Albania Croatia Kosovo Macedonia Serbia(3) o/w 144 kunits sold under Peugeot license in 2018.Total consolidated worldwide sales(AV CKD):PeugeotCitroënDSOpel VauxhallTotal 3,877,7651 453,823989,85361,989973,4313,479,096-16,5%-5,4% 16,4%-6,2%-10,3%Total consolidated worldwide salesexcluding Iran:PeugeotCitroënDSOpel VauxhallTotal PSA20182019Change1 596,2161 046,22953,1901 038,0573 733,6921 453,823989,85361,989973,4313,479,096-8,9%-5,4% 16,5%-6,2%-6,8%45
ATTACHMENTGROUP REVENUE BY recia17,52517,768243Other businesses and eliminations(2,051)(1,980)71Group Revenue74,02774,73170446
ATTACHMENTGROUP ADJUSTED OPERATING INCOME BY cia1,2631,227(36)(40)601005,6896,324635Other businesses and eliminationsGroup Adjusted Operating Income47
ATTACHMENTBANQUE PSA FINANCE20182019ChangeRevenue1,9892,163174Cost of risk (in % of average loans)0.13%0.21% 0.08 pts9391,0127329.1%29.7% 0.6 pts1,088,2121,150,132 61,920Adjusted operating IncomePenetration rateNumber of new contracts (lease and financing)48
8243Adjusted Operating Income1,2631,227(36)7.2%6.9%Consolidated net income793665(128)Free Cash Flow (1)403(520)(923)(545)(2,692)(2,147)% of revenueNet Financial Position (2)(1) Including the acquisition of Clarion in 2019(2) After IFRS 16 effect and including the acquisition of Clarion in 201949
ATTACHMENTPARTNERSHIPS CONTRIBUTION TO NET RESULT20182019Change50% Dong Feng Motor company Partnership(234)(383)(149)50% Changan Partnership(68)(50)1825% Chinese Financial JV1316350% Banque PSA Finance JVs with Santander2412803950% Banque PSA Finance JV with BNP Paribas10676(30)(102)37139(44)(24)20OthersShare in net earnings of companies at equ
PEUGEOT –THE BEST HIGH-END GENERALIST BRAND 2015 2018-2.4%-1.2% Push to Pass target 1%-1% 2019-2021 Pricing Power vs benchmark PEUGEOT 208 PEUGEOT 2008 Pricing power in Europe: Peugeot has reached a further stage Record profitability Market share: -0.1pt. Strong rebound targeted in 2020 with new 208 & 2008 Improved customer satisfaction and .
dc-2/3. psa-120s dd-2/3/5/6/7. psa-120s dd-20. psa-120s dd-500. psa-120s df-2. psa-120s di-1. psa-120s dif-800. aci-120 psb-1u x dj-505/707m/808. psb-1u x dm-2/3 psa-120s. dn-2 psa-120s. dp-90/99
The Shadowhunter Circular Exhibition of Art Photography is divided into 6 sections, all digital: 1 A Shadowhunter PSA PID Colour * 2 B Life of man PSA PID Colour 3 C Nature PSA ND ** 4 D Open Colour PSA PID Colour 5 E Open Monochrome PSA PID Mono *** DEFINITIONS * Shadowhunter
1.0 Background to Ethiopia Private Sector Assessment 1.1. Global Finance Facility and the Private Health Sector 1.2. Rationale for PSA 1.3. Target Audience and Use of PSA 1.4. PSA Methodology 1.5. PSA Framework - A Health Market Systems Approach 1.6. Limitations 1.7. PSA Organization 2.0 Ethiopia Overview 2.1 Ethiopia Socio-Economic Indicators
The Philippine Statistical Yearbook (PSY) is an annual publication by the PHILIPPINE STATISTICS AUTHORITY (PSA). For technical inquiries, please contact us at: (632) 462-6600 or email us at kmcd.staff@psa.gov.ph. TERMS OF USE OF PSA PUBLICATIONS The PSA reserves its exclusive right to reproduce all its publications in whatever
Suppliers Relation Management » (reference DA_AQF07_0001_EX) called MRF document. Since middle of year 2015, PSA has adopted APQP and PPAP processes for new projects. The Groupe PSA requirement for these new projects are defined in the Supplier Quality Manual (reference 01276_15_00082) called SQM document.
Started Lupron 3/2017. PSA 7/2017 0.1. Stopped ADT after 1 year. 8/2018 PSA 0.1, T 92. PSA 2/4/19 1.4 T 701. Axumin scan 2/2019. Uptake in solitary right pelvic LN, outside target of previous prostate bed radiation. ADT and IGRT 4500gy to right pelvic LN with boost to positive node. 4/2019 PSA 0.1 T 14. Axumin .
Otec psa Prosto Chudo Dragon Fallcat Majitel Nikol Kodrlová Matka psa Cream Caramel Great Lady V2 mladých 040 Datum narození 29.5.2012 Číslo zápisu Zreg/AUO/1310/12 Jméno psa AMIE z Ranče pod Je řábem Chovatel MUDr. Kate ina Doležalová Otec psa Axel Moon Carcassonne Tol
of photos set to narration or music. Have students use the PSA Project Student Information and Task Sheet and Marine Debris PSA Rubric to help them manage the project. Option – If students do not have access to video editing software a script for a radio PSA could be written and recorded with a smartphone. Part 3 – Spread the PSA word 3.
