Stellantis Posts Record First Half 2022 Results with 14.1% AOI Margin, €8.0 Billion Net Profit and €5.3 Billion Industrial Free Cash Flows; Global BEV Sales Up Nearly 50%, Among Leaders in EU30 BEV Sales

Die folgende Meldung von Stellantis wurde soeben veröffentlicht. Um eine direkte Information zu gewährleisten, finden Sie hier die englische Version. Die deutschsprachige Pressemitteilung wird im Laufe des Vormittages auf der deutschen Presseseite von Stellantis veröffentlicht: https://www.media.stellantis.com/de-de/.
 

• Net revenues of €88.0 billion, up 17% compared to H1 2021 Pro Forma⁽³⁾ reflecting strong net pricing, favorable vehicle mix and positive FX translation effects

• Adjusted operating income⁽¹⁾ of €12.4 billion, up 44% compared to H1 2021⁽³⁾, with margin at 14.1%; all five regions⁽⁴⁾ with double-digit margins

• Net profit of €8.0 billion, up 34% compared to H1 2021⁽³⁾

• Industrial free cash flows⁽²⁾ of €5.3 billion, up €6.5 billion compared to H1 2021⁽³⁾

• Strong Industrial available liquidity at €59.7 billion

• Stellantis ranked second in BEV sales and LEV sales in EU30 market; third in the U.S. market for LEV sales

• Global BEV sales up nearly 50% y-o-y to 136k units

All financial comparisons are to H1 2021 Pro Forma⁽³⁾.
 

“In a demanding global context, we continue to 'Dare Forward', delivering an outstanding performance and executing our bold electrification strategy. Together with our employees' resiliency, agility and entrepreneurial mindset, and our innovative partners, we are shaping Stellantis into a sustainable mobility tech company that's fit for the future. I would like to express my sincere appreciation to all Stellantis employees for their commitment and their contribution to these results.” 

Carlos Tavares, CEO

____________________________________________________________________________________________________________________________________

n.a. = not applicable
n.m. = not meaningful
 

Basis of preparation: All reported data is unaudited. “H1 2022” and “H1 2021” represent results as reportable under IFRS. H1 2021 includes Legacy FCA from January 17, 2021, following the closure of the merger; “H1 2021 Pro Forma” is presented as if the merger had occurred January 1, 2020 and include results of FCA for the period January 1 - 16, 2021. Refer to the section "Notes" for additional detail. Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.
 

Amsterdam, July 28, 2022 – Stellantis’ Dare Forward 2030 strategic plan is progressing at full speed, supported by record profitability and accelerating sales of low emission vehicles (LEV), which include battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric vehicles.

The Company ranked second in the EU30 market for BEV and LEV sales (less than 1k vehicles gap with LEV leader) and third in the U.S. market for LEV sales⁽⁶⁾. Stellantis' global BEV sales were up nearly 50% y-o-y to 136k units in H1. The Company now offers 20 BEVs, with an additional 28 BEVs to be launched through 2024.

Battery Ecosystem Strengthened: Confirmed locations for five gigafactories (three in Europe and two in North America), partnering with Automotive Cells Company, Samsung SDI and LG Energy Solution; and strengthened supply of low-carbon lithium hydroxide, by signing agreements with Vulcan Energy and Controlled Thermal Resources in Europe and North America, respectively. Samsung SDI and LG Energy Solution agreements remain subject to customary closing conditions and regulatory approvals.

Global Mobility Leadership: Acquired Share Now, positioning Free2move as a world leader in mobility with more than 6 million customers worldwide.

Transformational Partnerships: Announced global, multi-year agreements with Amazon and Qualcomm that will transform the in-vehicle experience for millions of Stellantis customers.

North America: Achieved record profitability, with Adjusted operating income (AOI) margin of 18.1%; market share was up 40 bps y-o-y to 11.3%, with U.S. share up 50 bps to 11.7%. Jeep^® Wrangler 4xe remains the best-selling PHEV in the U.S.⁽⁶⁾ with 19k units sold in H1, up 55% y-o-y. The all-new Jeep Grand Cherokee 4xe is arriving in dealerships, soon to be followed by the all-new Wagoneer L and Grand Wagoneer L in late 2022.

Enlarged Europe: Achieved AOI margin of 10.4% up 160 bps, EU30 market share at 21.2%, down 190 bps. The Fiat New 500 was the number one selling BEV in Germany and Italy and the Peugeot e-208 was the best-selling BEV in France. Jeep Compass and Renegade were the number one and number two best-selling LEVs in Italy. Peugeot 208, Opel Corsa, Citroën C3, Fiat Panda and Fiat 500 represented five of the EU30 top 10 selling vehicles.

Other Regions: All three regions achieved double-digit AOI margins. South America: more than tripled AOI to €1.0 billion, with 13.9% margin. Market leader in the region with 23.5% share. Fiat was the top-selling brand in the region and Jeep top-selling SUV brand in Brazil. Middle East & Africa: record AOI margin of 15.5% up 580 bps and AOI of €472 million; market share up 20 bps to 11.9%. China and India & Asia Pacific: AOI margin of 13.4%, with AOI up 40% to €289 million. The all-new Jeep Meridian and Citroën C3 launched in India and deliveries began in June and July, respectively.

Maserati: On the path to double-digit profitability, with AOI margin of 6.6%, up 330 bps. AOI more than doubled to €62 million. All-new MC 20 Cielo unveiled in May; launched all-new Grecale with first deliveries in Europe at the end of June and unveiled limited edition Supercar in July.

Note: Unless otherwise stated, all market share and ranking references are for H1 2022. All year-over-year comparisons are to H1 2021 including Legacy FCA for the period from January 1 - 16, 2021, prior to the closing of the merger.
 

Upcoming Events: Dodge, Jeep and Ram to reveal more about their electrification strategies.

• August 16 and 17        Gateway Muscle and Future Muscle Reveals as part of 'Dodge Speed Week'

• September                   Jeep 4xe Day

• November 3                 Q3 2022 Shipments and Revenues

• November                    Ram Revolution 
   

On July 28, 2022 at 12:30 p.m. CEST / 6:30 a.m. EDT, a live webcast and conference call will be held to present Stellantis' First Half 2022 Results. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website at www.stellantis.com. The presentation material is expected to be posted under the Investors section of the Stellantis corporate website at approximately 8:00 a.m. CEST / 2:00 a.m. EDT on July 28, 2022.

NOTES
(1) Adjusted operating income/(loss) excludes from Net profit/(loss) from continuing operations adjustments comprising restructuring, impairments, asset write-offs, disposals of investments and unusual operating income/(expense) that are considered rare or discrete events and are infrequent in nature, as inclusion of such items is not considered to be indicative of the Company's ongoing operating performance, and also excludes Net financial expenses/(income), Tax expense/(benefit) and Share of the profit/(loss) of equity method investees.
Unusual operating income/(expense) are impacts from strategic decisions, as well as events considered rare or discrete and infrequent in nature, as inclusion of such items is not considered to be indicative of the Company's ongoing operating performance. Unusual operating income/(expense) includes, but may not be limited to: impacts from strategic decisions to rationalize Stellantis' core operations; facility-related costs stemming from Stellantis' plans to match production capacity and cost structure to market demand, and; convergence and integration costs directly related to significant acquisitions or mergers.
For the six months ended June 30, 2021, Pro Forma Adjusted operating income includes the Adjusted operating income of FCA for the period January 1 - January 16, 2021.
(2) Industrial free cash flows is calculated as Cash flows from operating activities less: cash flows from operating activities from discontinued operations; cash flows from operating activities related to financial services, net of eliminations; investments in property, plant and equipment and intangible assets for industrial activities; contributions of equity to joint ventures and minor acquisitions of consolidated subsidiaries and equity method investments; and adjusted for: net intercompany payments between continuing operations and discontinued operations; proceeds from disposal of assets and contributions to defined benefit pension plans, net of tax. For the six months ended June 30, 2021, Pro Forma Industrial free cash flows includes the Industrial free cash flows of FCA for the period January 1 - January 16, 2021. The timing of Industrial free cash flows may be affected by the timing of monetization of receivables and the payment of accounts payables, as well as changes in other components of working capital, which can vary from period to period due to, among other things, cash management initiatives and other factors, some of which may be outside of the Company’s control.
(3) Completed merger of Peugeot S.A. (“PSA”) with and into Fiat Chrysler Automobiles N.V. (“FCA”) on January 16, 2021 (“Merger”). On January 17, 2021, combined company was renamed Stellantis N.V. (“Stellantis” or “Company”). PSA was determined to be the acquirer for accounting purposes, therefore, the historical financial statements of Stellantis represent the continuing operations of PSA, which also reflect the loss of control and the classification of Faurecia S.E. (Faurecia) as a discontinued operation as of January 1, 2021 with the restatement of comparative periods. Acquisition date of business combination was January 17, 2021, therefore, results of FCA for the period January 1 - 16, 2021 are excluded from H1 2021 results unless otherwise stated. H1 2021 Pro Forma results are presented as if the merger had occurred on January 1, 2020 and include results of FCA for the period January 1 – 16, 2021.
(4) Regions relates to geographical regions of: North America, Enlarged Europe, Middle East & Africa, South America and China and India & Asia Pacific.
(5) Source: China State Information Center (SIC), S&P Global, Ward's Automotive and Company estimates.
(6) Per S&P Global May 2022 year-to-date vehicle registrations (most current data available); PC + light-duty trucks.
(7) Combined shipments include shipments by the Company's consolidated subsidiaries and unconsolidated joint ventures, whereas Consolidated shipments only include shipments by the Company's consolidated subsidiaries.
(8) Industrial net financial position is calculated as Debt plus derivative financial liabilities related to industrial activities less (i) cash and cash equivalents, (ii) financial securities that are considered liquid, (iii) current financial receivables from the Company or its jointly controlled financial services entities and (iv) derivative financial assets and collateral deposits; therefore, debt, cash and cash equivalents and other financial assets/ liabilities pertaining to Stellantis’ financial services entities are excluded from the computation of the Industrial net financial position. Industrial net financial position includes the Industrial net financial position classified as held for sale.
 

Investor Relations
investor.relations@stellantis.com

Media
communications@stellantis.com