AMSTERDAM – Stellantis NV has published record results for the year 2023, with net sales increasing by 6% compared to the previous financial year, to reach 189.5 billion euros. Net profit increased by 11% to 18.6 billion euros, and industrial free cash flow was up 19% compared to the previous financial year, at 12.9 billion euros. Global sales of electric vehicles (BEV) are up 21% and sales of electrified vehicles (LEV) are up 27% compared to the previous fiscal year, with plug-in hybrids (PHEV) leading the way in the United States(3) and a second place for LEV in the United States(3). The results are in line with the objectives of the Dare Forward 2030 plan and supported by the following concrete measures:
COMMITMENT : Stellantis continues its ambition to achieve carbon neutrality by 2038(4). In 2023, Stellantis reduced its absolute tCO emissions by 20%2 on scopes 1 and 2 compared to the reference year 2021. The constant attention paid to the customer has enabled Stellantis to reduce the number of defects on its vehicles by more than 40% three months after their delivery to the end customer, compared to 2021. As part of the implementation of a circular consumption model, the company opened its first Circular Economy Hub in Italy, with the creation of a center of excellence intended to industrialize the recovery and sustainable reuse of materials. The sales volume generated increased by 18% compared to the previous financial year. The company has implemented an employee shareholding plan called “Shares to Win” in Italy and France, and plans to extend it to other countries in 2024. In addition, more than 600 collective agreements have been signed, covering nearly 90% of Stellantis employees worldwide. The Stellantis Student Awards recognized more than 600 family members of collaborators for their commitment to education and continuing education, and the Stellantis Foundation partnered with CERN to inaugurate the Science Gateway in Geneva, a new center dedicated to scientific education.
TECH: To support the company’s growth in the global market as well as its electrification strategy in North America, 18 additional BEVs will be marketed in 2024 to reach a total of 48 electric models by the end of 2024. The all-new Citroën ë-C3 starts at €23,300, which makes it the most competitive electric car produced in Europe in the B segment, while the Jeep® Avenger, crowned European Car of the Year 2023, continues to collect awards. With the Peugeot E-3008, Stellantis launched the first of its four new platforms designed for BEVs, the STLA Medium platform, which offers the best autonomy in its category (up to 700 kilometers). The second platform, STLA Large, scheduled for launch in 2024, will offer a range of 800 kilometers and will be designed to exceed customer expectations. STLA Large is a highly flexible native BEV platform that will serve as the basis for several upcoming D and E segment vehicles. It will be able to support different propulsion systems, including hybrid and internal combustion systems. Stellantis has secured its supply of raw materials until 2027, and signed an agreement with CATL for the supply of LFP battery cells and modules, thus completing its portfolio of battery chemistries. Stellantis and Ample have partnered in battery swapping technology for a fully charged car in less than five minutes. Stellantis joined Symbio and the other shareholders of the joint venture for the inauguration of SymphonHy, France’s first gigafactory and the largest integrated hydrogen fuel cell production site in Europe. Stellantis is implementing a multidimensional strategy to secure the supply of semiconductors and stimulate innovation. SiliconAuto, an equal joint venture between Stellantis and Foxconn, will produce chips from 2026 for the new generation of platforms dedicated to the automotive industry. In 2023, Stellantis Ventures invested in six new startups, and Stellantis signed 49 commercial contracts with startups.
VALUE : Flexibility, implementation, resilience and agility remain essential elements of the Stellantis philosophy. With numerous technologies and new models announced, the company is well positioned to profitably respond to customer expectations, market fluctuations and political upheavals. Stellantis Shows Continued Growth Outside of Greater Europe and North America with ‘Third Engine’(5) which saw its net turnover increase by 13%. In China, Stellantis invested €1.4 billion in Leapmotor, an OEM in the New Energy Vehicles (NEV) sector, and now holds nearly 21% of its capital. This investment allows Stellantis to play a major role in supporting its promising growth in China while contributing to Leapmotor’s international expansion strategy through the new Leapmotor International joint venture managed by Stellantis. Stellantis thus fills a gap in its business model and can now benefit from Leapmotor’s competitiveness in China and other countries. The Stellantis Pro One Commercial Vehicles business unit remains the market leader in EU30 and South America, and is the undisputed leader in electric vehicle sales in EU30 with 38.8% market share for BEVs. The business unit is aiming for first place worldwide by 2027, with an expanded and completely renewed range composed of internal combustion vehicles, electric vehicles, hydrogen fuel cell models and systems to increase the vehicle’s autonomy. Stellantis’ DaaS (Data as a Service) branch, Mobilisights, has created innovative solutions and secured several strategic agreements thanks to its tailor-made data packs and its data streaming offering.
OBJECTIVES AND PROSPECTS: Building on 2023 momentum, management notes a number of factors likely to create a favorable backdrop for 2024, including reduced logistics and supply challenges, stabilization and potential decrease in interest rates, and the profits generated by the expansion of the company’s planned product range. The group renews its commitment to achieve a minimum double-digit current operating margin for 2024, as well as positive industrial free cash flow despite macroeconomic uncertainties.
Subject to shareholder approval, Stellantis proposes to pay an ordinary dividend of €1.55 per share, an increase of 16% compared to the previous year, and the planned schedule for the NYSE, Euronext Milan and Euronext Paris will be as follows: (i) detachment date April 22, 2024, (ii) registration date April 23, 2024 and (iii) payment date May 3, 2024. Stellantis will also implement a €3.0 billion market share repurchase program for 2024, with €0.5 billion of shares repurchased under the share-based compensation and employee shareholding, in 2024.
A live webcast and conference call is scheduled for February 15, 2024 at 2:00 p.m. CET / 8:00 a.m. EST to present Stellantis’ results for the full financial year 2023. The webcast and replay will be accessible in the ‘Finance’ section from the Stellantis website www.stellantis.com. The corresponding presentation documents are expected to be published in the ‘Finance’ section of the Stellantis website around 07:30 CET / 01:30 EST, again on February 15, 2024.
EVENTS TO COME :
- General meeting of shareholders – April 16, 2024
- Sales and turnover of 1er quarter – April 30, 2024
- Investor Day 2024 – June 13, 2024
Full version of the press release to download opposite
About Stellantis
Stellantis NV (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automobile manufacturers, dedicated to providing the freedom of clean, safe and affordable mobility for all. The group is renowned for its unique portfolio of iconic and avant-garde brands: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is today implementing its bold Dare Forward 2030 strategic plan, in order to become a mobility ‘tech company’ and achieve carbon neutrality by 2038, with a percentage of compensation for residual emissions at a single figure, while creating added value for all stakeholders. To learn more, www.stellantis.com