Shines stellantis in first quarter 2022 taking it home a net profit of 8,0 billion euros (+34%) and a net industrial cash flow of 5,3 billion euros, up by 6,5 billion compared to the first half of 2021. Adjusted operating profit was 12,4 billion euros, up by 44 % and with a margin of 14,1%. Driving the business are the electric cars, which saw global sales grow by nearly 50%, propelling the company to the podium for Bev and Lev sales in the EU30 and the US.
Stellantis has confirmed the guidance for full-year 2022. The group expects to post a double-digit adjusted operating profit margin (Aoi margin) and positive industrial free cash flow at the end of the year, the statement said.
“Stellantis' Dare Forward 2030 strategic plan is in full swing, supported by record profits and surging sales of low-emission vehicles (LEVs), which include battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and fuel cells,” continues the company. Global BEV sales increased nearly 50% year-over-year to 136 units.
Tavares: “We are becoming a sustainable mobility technology company”
“In a complex global environment we continue on the path of the 'Dare Forward' plan, achieving outstanding performance and implementing our ambitious electrification strategy,” said Carlos Tavares, CEO of Stellantis. “Together with the resilience, agility and entrepreneurial mindset of our people and thanks also to our innovative partners, we are transforming Stellantis into a sustainable and future-ready mobility technology company. I would like to express my sincere appreciation to all Stellantis employees for their commitment and contribution to these results”.
The company, which currently offers 20 BEVs, ranked second in the EU30 market for BEV and LEV sales (with a gap of less than 1.000 vehicles to the LEV leader) and third in the US market for LEV sales . For 2024, it plans to launch another 28 BEV models.
Other financial data
In detail, i Net revenues amounted to 88,0 billion euros, up 17% compared to the pro-forma 1st half of 2021, says a note from the company, specifying that the result was achieved “thanks to strong net prices, the mix of vehicles and the positive effects of foreign exchange conversions”. The net industrial cash flow of 5,3 billion euros, an increase of 6,5 billion euros compared to the first half of 1. The industrial liquidity available amounts to 59,7 billion euros.
regional data
Europe
In European market expanded, the AOI margin rose to 10,4%, an increase of 160 basis points.
The Fiat Nuova 500 was the best-selling BEV in Germany and Italy and the Peugeot e-208 was the best-selling BEV in France. Jeep Compass and Renegade were the first and second best-selling LEV cars in Italy. Peugeot 208, Opel Corsa, Citroën C3, Fiat Panda and Fiat 500 are five of the top 10 best-selling vehicles in the EU30.BEV Battery Electric Vehicle.
I also raise at home Maserati with an AOI margin of 6,6%, up 330 basis points. The AOI is
more than doubled, reaching 62 million euros, says the note which recalls how the new MC20 Cielo was presented last May and the new Grecale was launched at the end of June with the first deliveries in Europe, while the Supercar was presented in July limited edition.
United States
All three regions achieved double-digit AOI margins. In North America Stellantis achieved record profits, with an Adjusted Operating Income (AOI) margin of 18,1%, with market share increasing 40 basis points year over year to 11,3%. The US share in particular is up by 50 basis points, reaching 11,7%. Jeep Wrangler 4xe remains the top-selling PHEV in the United States with 19 units sold in the first half, up 1% year over year. “The all-new Jeep Grand Cherokee 55xe is arriving in dealerships soon followed by the all-new Wagoneer L and Grand Wagoneer L in late 4,” the statement said.
South America
In South America, the AOI more than tripled to one billion euros, with a margin of 13,9%. Market leader in the region with 23,5% share, Fiat was the best-selling brand in the region and Jeep is the best-selling SUV brand in Brazil.
Middle East
In the Middle East and Africa, the AOI margin grew to 15,5%, an increase of 580 basis points and an AOI of €472 million. Market share increased by 20 basis points to 11,9%. In China, India and Asia-Pacific, the AOI margin was 13,4%, with AOI up 40% to €289 million. The all-new Jeep Meridian and Citroën C3 have been launched in India and deliveries have started in June and July respectively.
Stellantis strengthens itself in the battery ecosystem
Stellatis confirms the locations of the five gigafactories (three in Europe and two in North America), in collaboration with Automotive Cells Company, Samsung SDI and LG Energy Solution and the supply of low carbon lithium hydroxide is strengthened with the signing of agreements with Vulcan Energy and Controlled Thermal Resources in Europe and North America respectively, the statement said. Agreements with Samsung SDI and LG Energy Solution are subject to customary closing conditions and regulatory approvals.
