The fourth largest car manufacturer on the planet, Stellantis, revealed financial results for fiscal year 2022, the second after the union between Fiat Chrysler (FCA) and PSA (Peugeot, Opel and Citroen) that gave birth to the new company.
The company also disclosed the payment of dividends for almost 5,000 million dollars to shareholders.
In parallel, the council approved the repurchase of shares for a total of 1,550 million euros, a strategy that will be carried out at the end of this year.
It is all good news that shows that the alliance is giving good results.
Specific, stellantis published this Wednesday, February 22, record results for the entire year: a 26.2 percent rise in their net earnings (up to 17.950 million dollars) and a year-on-year increase of 42 percent in sales of batteries and electric cars.
The company, which is based in the Netherlands, detailed that its net income grew by 18.8 percent (to almost 180 billion dollars).
The CEO of Stellantis, Carlos Tavares, explained in the alliance report that the results have demonstrated the “effectiveness of the electrification strategy” of the firm in the countries of the European Union, with 288,000 sales of batteries and electric cars in 2022.
With 23 electrified models on the market, Stellantis’ goal is to reach 47 by the end of 2024.
The idea of the company is to reach the 5 million electric cars sold in 2030.
“We have the technology, the models, the raw materials and the set of batteries to be leaders in the countries of North America, starting with our first RAM 100% electric since 2023 and the first Jeepfrom 2024”, confirmed Tavares.
With these results, Stellantis goes in search of industry leaders
Stellantis has under its umbrella leading global brands such as Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Opel and Peugeot.
When details of Stellantis’ 2022 results were released, its shares rose nearly 2 percent in European trading.
Stellantis had already performed well in 2021, their first year as an alliance. In the report published in February 2022, the holding said that the margin on its operating profit was 11.8 percent, almost two percentage points above the objectives set, which were 10 percent.
According to the brand, it did so thanks to solid progress in synergies between the two companies that led to the birth of Stellantis, a process that generated close to $3.6 billion in net profit.
Regarding the problems in Ukraine and the war in the area, Stellantis said that his business in the region is marginal and has not directly affected it.
The brand is carrying out an electrification strategy that involves an investment of 40 billion dollars.
It also maintains alliances with giants such as Amazon and Foxconn, the iPhone assembler, to develop software for connected vehicles.
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