Stellantis Posts First Half 2023 Results with Net revenues of €98.4 billion
London, 26 July, 2023, (Oilandgaspress) – Stellantis N.V. continues to deliver value across multiple dimensions, posting strong growth and setting new records in Net revenues, AOI and Net profit, while driving a transformative, cost-effective product pivot to electrified and software-defined vehicles across its 14 iconic brands. Despite the challenging business environment, Stellantis is successfully executing its Dare Forward 2030 commitments through the efficient and dedicated focus on three core tenants:
Net revenues of €98.4 billion, up 12% compared to H1 2022 primarily due to higher shipment
Adjusted operating income(1) of €14.1 billion, up 11% compared to H1 2022(*), with strong 14.4% margin
Net profit of €10.9 billion, up 37% compared to H1 2022
Industrial free cash flows(2) of €8.7 billion, up €3.3 billion compared to H1 2022
Record results enable continued strategic investments to drive a sustainable road to Carbon Net Zero transformation
Global BEV and LEV sales up 24% y-o-y to 169 thousand units and up 28% y-o-y to 315 thousand units, respectively
Stellantis ranked third in EU30 overall BEV sales; second in the U.S. market for LEV sales(3)
The company repurchased €0.7 billion in shares in the first half of 2023, and expects to complete the announced €1.5 billion share buyback program before the end of 2023
The electrification of the Company’s product lineup continues to resonate with global BEV and LEV sales up 24% year-over year to around 169,000 units and up 28% year-over-year to around 315,000 units, respectively. Stellantis now ranks third in EU30 overall BEV sales and second in the U.S. market for LEV sales. Stellantis currently has 25 BEVs available today and another 23 launching through 2024. Marking the start of a new era of electrified products was the unveiling of STLA Medium, the first BEV-by-design global platform for vehicles in the C- and D- segments that delivers best-in-class range, energy efficiency, embedded power and charging power. In addition to inaugurating the ACC gigafactory in France, the Company recently announced plans to build a second StarPlus Energy gigafactory in the U.S. together with Samsung SDI. Stellantis Ventures made 11 key investments since its founding in March 2022, including in breakthrough lithium-sulfur EV battery technology from Lyten Inc. that does not use nickel, cobalt or manganese.
The Company is currently executing a multifaceted strategy to ensure supply security and drive innovation for critical components necessary for the transition to a sustainable mobility tech company. Announced in June 2023, SiliconAuto, the new joint venture with Foxconn, is dedicated to designing and selling a family of state-of-the-art automotive semiconductors starting in 2026.
Stellantis recently increased its strategic shareholding in Archer Aviation and construction is now well underway on the world’s first high-volume eVTOL aircraft manufacturing facility in Georgia, U.S.
As of June 30, 2023, Stellantis executed €0.7 billion of the €1.5 billion share buyback program, repurchasing approximately 45 million share, and expects to complete the program before the end of 2023. Over €6 billion has been returned to shareholders and employees related to fiscal year 2022 in dividends and bonuses.
On July 26, 2023 at 2:00 p.m. CEST / 8:00 a.m. EDT, a live webcast and conference call will be held to present Stellantis’ First Half 2023 Results.
Information Source: Read More
Energy Monitors , Electric Power , Natural Gas , Oil , Climate , Renewable , Wind , Transition , LPG , Solar , Electric , Biomass , Sustainability , Oil Price , Electric Vehicles,
