With Important Product-Led Transition Year Underway, Stellantis Delivers €5.6 Billion Net Profit, €8.5 Billion AOI and 10% AOI Margin in the First Half of 2024
25 Julio 2024 - 12:32AM
With Important Product-Led Transition
Year Underway, Stellantis Delivers €5.6 Billion Net Profit, €8.5
Billion AOI(1)
and 10% AOI Margin(2) in
the First Half of 2024
- Net revenues of
€85.0 billion, down
14% compared to H1 2023, primarily due to
the decline in volume and mix
- Net profit of
€5.6 billion, down
48% compared to H1
2023, primarily due to lower volume and mix,
headwinds from foreign exchange and restructuring
costs
- Adjusted operating
income(1) of
€8.5 billion, down €5.7
billion compared to H1 2023,
primarily due to decreases in
North America
- AOI
margin(2) of
10%, reflecting direct materials, workforce and logistics cost
reductions which helped to
mitigate the revenue decline
- Management taking decisive
actions to address operational challenges,
including North American share and inventory
performance
- Industrial free cash
flows(3) near
zero (-€0.4 billion), impacted by lower
AOI(1), as well as negative
working capital development and higher investment spend, both
expected to evolve favorably in the second half,
supporting positive full-year
Industrial free cash flow
- Total inventory reduced by
3% to 1,408 thousand units over the first six months of
2024
- More than 20 launches
planned in 2024, including a refreshed Ram 1500, European van range
and the Peugeot 3008, the first on the new STLA family of
platforms. Received all necessary approvals to launch the Leapmotor
International JV, with initial deliveries in Enlarged Europe near
the end of Q3 2024, followed by South America, Middle East &
Africa and India & Asia Pacific
- Returned €6.7 billion in
capital in the first half, reflecting in part the accelerated
execution of the €3.0 billion 2024 share buyback program, and
remain committed to return at least €7.7 billion before the end of
2024
- EN-Stellantis NV H1 2024 Press Release