Home » Stellantis, profit reaches 18.6 billion, revenues rise by 6%. CEO Tavares: “Become the new global leader”

Stellantis, profit reaches 18.6 billion, revenues rise by 6%. CEO Tavares: “Become the new global leader”

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Stellantis, profit reaches 18.6 billion, revenues rise by 6%.  CEO Tavares: “Become the new global leader”

Stellantis achieved “record results” in 2023. Net profit increased 11% to 18.6 billion euros, adjusted operating profit increased 1% to 24.3 billion euros, with a revenue margin of 12.8%. In 2023 Stellantis distributed 6.6 billion euros to shareholders in the form of dividends and share buybacks, an increase of 53% compared to the 4.3 billion euros in 2022. The dividend that will be proposed is 1.55 euros per ordinary share, approximately 16% more than the previous year.

In the United States, Stellantis claims first place for hybrid vehicles and second place for low-emission vehicles. To support overall market growth and the drive for electrification in North America, Stellantis will launch an additional 18 BEV models in 2024 for a total of 48 electric car models available by the end of 2024. This is stated in the 2023 financial statement. The second platform, STLA Large, scheduled to launch in 2024, will have a range of 800 kilometers (500 miles) and will be equipped to exceed customer expectations. STLA Large is a highly flexible platform. Born for BEVs and capable of adopting different propulsion systems, including hybrid and internal combustion ones, it will serve as the basis for the next global vehicles in the D and E segments. Stellantis has secured the supply of raw materials until 2027 and has signed an agreement with CATL to supply LFP battery cells and modules, further expanding its portfolio of battery chemistries. Additionally, Stellantis and Ample have partnered on battery module swapping technologies to deliver fully charged EV batteries in less than five minutes.

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«We have recently passed the milestone of three years since the birth of Stellantis and I would like to warmly thank all the teams who, operating with high standards of excellence, are contributing in a decisive way to our growth path, despite the adversities of the moment», is the comment that CEO Carlos Tavares entrusted to a note. «The record results announced today are proof that we have become a new global leader in the sector and that we will continue to be solid even in anticipation of a turbulent 2024». And again: «Thanks to the flexibility of our technologies and the roadmap established in terms of products, we are ready to face the various scenarios that could arise, continuing to achieve the objectives of the Dare Forward 2030 strategic plan» he adds.

The group – whose main shareholder is Exor, the holding of the Agnelli-Elkann family which controls the publisher of La Repubblica, Gedi – explains that last year it distributed 6.6 billion euros to shareholders in the form of dividends and buybacks of shares, with an increase of 53% compared to 4.3 billion euros in 2022.

The dividend that will be proposed is 1.55 euros per ordinary share, approximately 16% more than the previous year. Furthermore, in 2024 the group will implement a €3 billion share buyback programme, which includes €0.5 billion for shares to be allocated to share-based compensation plans and employee share purchases.

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