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Stellantis announces record results for first year of operation as it makes more than £11bn net profit

  • Margin on adjusted operating profit was above target
  • Net revenue for 2021 was £127bn
  • Chief executive Carlos Tavares thanks staff and management for their work in building company
  • Stellantis was formed in January 2021 by merger of Fiat Chrysler Automobiles and Groupe PSA

Time 10:37 am, February 23, 2022

Stellantis today (Feb 23) posted record results for its first year of operation with a net profit of some £11.2bn.

It said it made €13.4bn on net revenue of €152bn (£127bn) – nearly tripling year on year – and will give €1.9bn (£1.6bn) in benefits to its workforce, with a €3.3bn (£2.8bn) ordinary dividend to be paid, subject to shareholder approval.

Chief executive Carlos Tavares said: ‘Today’s record results prove that Stellantis is well positioned to deliver strong performance, even in the most uncertain market environments.

‘I warmly thank all Stellantis employees across our regions, brands and functions for their contribution to building our new company powered by its diversity.

‘I take this opportunity to also thank the management team for their relentless efforts as we faced and overcame intense headwinds.

‘Together, we are focused on executing our plans as we race to become a sustainable mobility tech company.’

He is due to deliver Stellantis’s detailed business plan on March 1.

Its adjusted operating profit nearly doubled to €18bn (£15m), with an 11.8 per cent margin, which was above its target of approximately 10 per cent.

It added that it had ‘strong industrial available liquidity’ of €62.7bn (£52.3bn).

In the Enlarged Europe (EU30) sector, it said it claimed a 33.7 per cent market share of commercial vehicles, stating that the Peugeot 208 was the top-selling vehicle in the EU30 area, while the 2008 was number one in the EU30 B-SUV segment for 2021.

Stellantis also said today that it planned to invest more than €30bn (£25bn) in electrification over the next three years, with partnerships in battery technology, battery materials and software development.

The multinational automotive manufacturing corporation was formed in January 2021 with the merger between Fiat Chrysler Automobiles and Groupe PSA and is now the world’s fourth largest carmaker.

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John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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