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Stellantis Announces Record-Breaking Financial Performance for 2023
Stellantis N.V. has reported an exceptional year in 2023, marking significant growth across key financial metrics, showcasing the company's robust strategic execution and resilience in a competitive market.
Key Financial Highlights of 2023:
- Stellantis achieved a 6% increase in net revenues, reaching €189.5 billion, supported by a 7% rise in consolidated shipment volumes.
- The company's net profit surged by 11% to €18.6 billion. Meanwhile, adjusted operating income (AOI) experienced a modest 1% growth to €24.3 billion, maintaining a solid AOI margin of 12.8%.
- Demonstrating strong financial health, Stellantis reported industrial free cash flows of €12.9 billion, marking a 19% increase from the previous year.
- The automaker ended the year with industrial available liquidity at €61.1 billion, underscoring its financial robustness.
- Sales of Low Emission Vehicles (LEVs), including Battery Electric Vehicles (BEVs), saw a notable uptick. LEV sales rose by 27%, with PHEVs leading in the U.S. and BEV sales globally increasing by 21%.
- Stellantis returned €6.6 billion in cash to shareholders through dividends and share buybacks, a significant 53% increase compared to €4.3 billion in 2022.
- A proposed dividend of €1.55 per common share for 2023 represents a 16% increase from the previous year, pending shareholder approval.
Strategic Milestones and Future Outlook:
- Stellantis remains committed to achieving carbon net-zero emissions by 2038, with a 20% reduction in scope 1 and 2 absolute emissions in 2023 compared to the 2021 baseline.
- The company is set to enhance its product portfolio with the launch of 18 additional BEVs in 2024, aiming for a total of 48 models by year-end.
- Stellantis' strategic investments and partnerships, such as securing raw materials sourcing through 2027 and establishing battery swapping technology partnerships, position the company for sustained growth in the EV sector.
- The company's "Dare Forward 2030" strategic plan underlines its ambition to lead as a carbon net zero mobility tech company by 2038, focusing on innovation, sustainability, and stakeholder value creation.
Guidance for 2024:
Amidst a backdrop of reduced supply constraints and potential macroeconomic stabilizations, Stellantis projects a supportive revenue environment in 2024. The company reaffirms its commitment to achieving a double-digit AOI margin and positive industrial free cash flow, despite ongoing uncertainties.
Stellantis' record performance in 2023 and strategic initiatives for electrification and market expansion underscore its transformation into a global leader in the automotive industry, poised for future growth and innovation.
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