Net sales of €88 billion, up 17% from a year ago. Guidance confirmed. Maserati is growing. The new 500 is the best-selling Bev in Germany and Italy. Tavares: “Without ordinary performance”
It shines Stellantis in first quarter 2022 takes him home a net profit of 8.0 billion euros (+ 34%) and a net industrial cash flow of 5.3 billion euros, an increase of 6.5 billion compared to the first half of 2021. Adjusted operating profit is 12.4 billion euros, an increase of 44% and with a margin of 14.1%. Running the business is electric carswhere global sales increased by almost 50%, bringing the company to the podium for Bev and Lev sales in the EU30 and the US.
Stellantis has guidance confirmed for the whole of 2022. The group expects to record a double-digit adjusted operating profit margin (Aoi margin) and positive industrial free cash flows at the end of the year, the note said.
“Stellantis’ strategic Dare Forward 2030 strategy is on track, supported by record profits and the increase in sales of low-emission vehicles (LEVs), which include battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and fuel cells”, the company continues. Global BEV sales rose nearly 50% year-on-year to 136,000 units.
Tavares: “We are becoming a sustainable mobility technology company”
“In a complex global context, we continue on the path of the ‘Give Forward’ plan, achieving exceptional 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 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, ranks second in the EU30 market for BEV and LEV sales (less than 1,000 vehicles behind the LEV leader) and third in the US market for LEV sales . For 2024, it plans to launch a further 28 BEV models.
The other financial data
In detail, ie Net income amounted to 88.0 billion euros, an increase of 17% compared to the first half of 2021 pro-forma, 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 exchange rates”. That industrial net cash flow of 5.3 billion euros, an increase of 6.5 billion euros compared to the first half of 2021. industrial liquidity available amounts to 59.7 billion euros.
In it European market expanded, the AOI margin increased to 10.4%, an increase of 160 basis points.
The Fiat Nuova 500 was the best-selling BEV in Germany and in Italy and the Peugeot e-208 was the best-selling BEV i France. The 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 10 best-selling vehicles in the UE30.BEV Battery Electric Vehicle.
Also ascend the house Maserati with an AOI margin of 6.6%, an increase of 330 basis points. AOI is
more than doubled and reached 62 million euros, says the note recalling 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 Supercar was presented in July limited edition.
All three regions achieved double-digit AOI margins. In North America, Stellantis achieved a record profit with an adjusted operating margin (AOI) of 18.1%, with market share up 40 basis points year-on-year to 11.3%. In particular, the US share has increased by 50 basis points and reaches 11.7%. The Jeep Wrangler 4xe remains the best-selling PHEV in the US with 19,000 units sold in the first half of the year, a 55% increase over the previous year. “The all-new Jeep Grand Cherokee 4xe will hit dealerships soon, followed by the all-new Wagoneer L and Grand Wagoneer L in late 2022,” the statement said.
In South America, AOI more than tripled to €1 billion. with a margin of 13.9%. Market leader in the region with a 23.5% share, Fiat was the best-selling brand in the region and Jeep is the best-selling SUV brand in Brazil.
In the Middle East and Africa, the AOI margin grew to 15.5% with an increase of 580 basis points and an AOI of €472 million. Market share grew by 20 basis points to 11.9%. In China, India and Asia Pacific, the AOI margin is 13.4%, with AOI up 40% to €289m. The all-new Jeep Meridian and Citroën C3 were launched in India and deliveries started in June and July respectively,” the note recalled.
Stellantis strengthens itself in the battery ecosystem
Stellatis confirms the location 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 memo said. Agreements with Samsung SDI and LG Energy Solution are subject to customary closing conditions and regulatory approvals.