Stellantis Posts Record Results in First Year

As a new company formed on Jan. 17, 2021, Stellantis N.V., with U.S. headquarters in Auburn Hills, posted record results for 2021, with net revenues increasing 14 percent to approximately $169 billion on a pro forma basis.
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In its first year of operation, Stellantis N.V. reported record setting financial results in a year when it introduced its electrification plans. // Courtesy of Jeep
In its first year of operation, Stellantis N.V. reported record setting financial results in a year when it introduced its electrification plans. // Courtesy of Jeep

As a new company formed on Jan. 17, 2021, Stellantis N.V., with U.S. headquarters in Auburn Hills, posted record results for 2021, with net revenues increasing 14 percent to approximately $169 billion on a pro forma basis.

The pro forma figures are presented as if the merger was completed on Jan. 1, 2020. All comparisons are to fiscal year 2020 pro forma.

The company also unveiled ambitious electrification and software plans this year, with planned investments of more than $33 billion through 2025 and partnerships announced in battery technology, battery materials and software development.

“Today’s record results prove that Stellantis is well positioned to deliver strong performance, even in the most uncertain market environments. I warmly thank all Stellantis employees across our regions, brands, and functions for their contribution to building our new company powered by its diversity,” says Carlos Tavares, CEO of Stellantis.

“I take this opportunity to also thank the management team for their relentless efforts as we faced and overcame intense headwinds. Together, we are focused on executing our plans as we race to become a sustainable mobility tech company.”

The adjusted operating income (AOI) nearly doubled to $20 billion, with an 11.8 percent margin and all segments profitable. Net profit nearly tripled year-over-year to a total of $14.9 billion. Industrial free cash flows of $6.7 billion were mainly driven by strong profitability and net cash synergies. All of these figures are pro forma.

Results also showed strong synergies execution with approximately $3.5 billion in net cash benefit, strong industrial available liquidity at $69.8 billion. Finally, $3.6 billion ordinary dividend is to be paid, subject to shareholder approval.

Stellantis launched more than 10 new models, including the Citroën C4, Fiat Pulse, DS 4, Jeep Grand Cherokee and Wagoneer, Maserati MC20, Opel Mokka, Opel Rocks-e, and Peugeot 308. The Company accelerated its low emission vehicles (LEV) commercial momentum leveraging the portfolio of 34 LEV models in market, including hydrogen fuel cell medium vans.

Global LEV sales reached 388,000 units, up 160 percent year-over-year with a number one position for battery electric van sales in EU30. Stellantis confirmed its strong position in the global commercial vehicles market with leadership in both EU30 and South America markets and achieved its highest ever worldwide pickup sales with approximately 1 million vehicles sold.

In North America, the Jeep Wrangler 4xe was the bestselling plug-in hybrid electric vehicle in U.S. retail for 2021. In South America, Stellantis was the market leader, with 22.9 percent share. It was also the leader in commercial vehicles with 30.9 percent market share.

In enlarged Europe, Stellantis was the EU30 market leader in commercial vehicles with 33.7 percent market share for 2021. The Peugeot 208 was the number one selling vehicle in the EU30 and the 2008 was number one in the EU30 B-SUV segment for 2021.

In the Middle East and Africa, consolidated shipments were up 6 percent, while market share grew in most major markets year-on-year. In India and Asia Pacific, the company is preparing to launch the all-new Citroën C3, developed and produced in India.

In China, Dongfeng Peugeot Citroën Automobile Co. (DPCA) more than doubled its annual sales volume of 2020 with 100,000 units sold, making Stellantis the fourth largest Independent After Market (IAM) parts distributor in China with sales growth of approximately 30 percent year-over-year. Maserati global market share grew to 2.4 percent, with North America and China market share at 2.9 percent and 2.7 percent, respectively.

Stellantis also strengthened its global financing operations in the U.S. with the creation of Stellantis Financial Services US Corp., as well as in Europe with enhanced financing partnerships with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance, and Santander Consumer Finance.

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