Stellantis: record accounts in 2022, profit +26%, revenues +18%

Stellantis closed 2022 with ‘record results’: a net profit of 16.8 billion, up 26% over the previous year and an adjusted operating profit of 23.3 billion, up 29%. Net revenues amounted to 179.6 billion euros, up 18% thanks to favorable net prices, improved model mix and positive conversion effects. An ordinary dividend of €4.2 billion will be distributed to shareholders, corresponding to €1.34 per share.
Net industrial cash flow is 10.8 billion (+78%), consistent with the 2030 target of exceeding 20 billion.
Stellantis is number one in electric commercial vehicle sales in the EU30, number two in global electric sales in the EU30, number one in hybrid sales in the USA. Overall, the increase in 2022 was 41%. The first US electric vehicle, Ram ProMaster, is expected to arrive in 2023. The range of 23 electric models will be available on the market, 9 will arrive in 2023. Stellantis has obtained net cash benefits of 7.1 billion euros from synergies, in advance more than two years compared to the target of 5 billion euros on an annual basis. Stellantis’ board of directors has approved a share buyback program for up to €1.5 billion, to be finalized on the market by the end of 2023. Stellantis CFO Richard Palmer applauds the “record” results ” made in 2022 by the automotive giant born from the merger between FCA and PSA. “These are very strong results,” Palmer said on a conference call with international reporters. “They are very strong results. Despite the current market challenges,” he said, citing, among others, the semiconductor node, energy supplies or inflation. The Stellantis top manager remained cautious, in particular, on the shortage of semiconductors which, in his opinion, will only be resolved “slowly” and “progressively” and will continue to weigh on the automotive sector in the coming months as well. As for the US Inflation Reduction Act (IRA), he said, “it doesn’t have a great impact” on the group’s strategy, which aims to “locate” production “in our main markets”. Such as the installation of gigafactories in Europe and North America. Stellantis closed 2022 with ‘record results’: a net profit of 16.8 billion, up 26% over the previous year and an adjusted operating profit of 23.3 billion, up 29%. Net revenues amounted to 179.6 billion euros, up 18% thanks to favorable net prices, improved model mix and positive conversion effects. “We are thrilled,” Palmer said, adding that these results “confirm the value” of all Stellantis workers. An ordinary dividend of 4.2 billion euros will be distributed to shareholders, corresponding to 1.34 euros per share. Net industrial cash flow is 10.8 billion (+78%), consistent with the 2030 target of exceeding 20 billion.