Stellantis posts strong growth in the first half of 2023

Stellantis N.V. continues to deliver value across multiple dimensions, posting strong growth and setting new records in net revenues, AOI (adjusted operating income) and net profit, while driving a transformative, cost-effective product pivot to electrified and software-defined vehicles across its 14 iconic brands.

Net revenues of €98.4 billion, were up 12% compared to H1 2022 primarily due to higher shipments, while AOI of €14.1 billion, was up 11% compared to H1 2022, with strong 14.4% margin.

Net profit of €10.9 billion was up 37% compared to H1 2022 and industrial free cash flows of €8.7 billion, were up €3.3 billion compared to H1 2022.

Despite the challenging business environment, Stellantis is successfully executing its Dare Forward 2030 commitments through the efficient and dedicated focus on three core tenants: Care, Tech and Value.

The record results enable continued strategic investments to drive a sustainable road to Carbon Net Zero transformation.

The electrification of Stellantis’ 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 US market for LEV sales.

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.

Carlos Tavares, CEO of Stellantis said, “Our outstanding performance in the first half of this year supports our long-term sustainability and our ability to achieve the bold ambitions of our Dare Forward 2030 plan. It takes a united effort and open mindset across all our employees to embark on our no-compromise transformation journey while protecting the Company from external challenges.”