Stellantis continued its strong growth trend in the first half of 2023 with new records, increasing its net income to 98.4 billion euros in the first half of the year.
According to the statement made by the company, Stellantis announced its financial data for the first half of the year.
Continuing its strong growth trend with new records in the first half of the year, Stellantis increased its net income by 12 percent compared to the same period of 2022 to 98.4 billion euros, mainly due to higher deliveries.
Stellantis increased its adjusted operating income (AOI) by 11 percent compared to the first half of 2022, achieving revenue of 14.1 billion euros and a strong margin of 14.4 percent.
The company’s increased sales performance also had a significant impact on its profits. Accordingly, Stellantis increased its net profit by 37 percent to 10.9 billion euros compared to the first half of 2022. Increasing its industrial free cash flow by 3.3 billion euros compared to the same period of the previous year, Stellantis reached 8.7 billion euros. The company bought back 0.7 billion euros of shares in the first half of 2023 and plans to complete the announced 1.5 billion euro share buyback program before the end of 2023. These record results from the company allow for continued strategic investments to manage a sustainable path to Stellantis’ “Net 0 carbon” transformation.
Stellantis’ extensive investment in electric mobility continues to bear fruit. In this context, Stellantis managed to increase its global BEV (battery electric vehicle) and LEV (low emission vehicle) sales to 169 thousand units with an annual increase of 24 percent and to 315,000 units with an increase of 28 percent, respectively. With these results, Stellantis ranked third in EU30 overall BEV sales and second in LEV sales in the US market.
“I would like to express my gratitude to each employee”
Stating that their outstanding performance in the first half of this year supports their long-term sustainability and the process of achieving the goals of the Dare Forward 2030 plans, Stellantis Chief Executive Officer (CEO) Carlos Tavares, whose views are included in the statement, said, “It is the joint effort of all our employees and a clear commitment to start our uncompromising transformation journey while protecting the company from external challenges. “I want to express my gratitude to each of our employees and I am proud to say that teams serve in more than one dimension. We are well positioned for the remainder of 2023 and beyond.”According to the information given, Stellantis N.V. continues its strong growth with a cost-effective product range, while transitioning to electric and software-oriented vehicles with its 14 iconic brands. Continuing to create value in multiple axes by breaking new records in net income, AOI and net profit, Stellantis successfully fulfills its Dare Forward 2030 commitments by focusing on 3 key concepts in an efficient and dedicated manner despite the challenging business environment.