Stellantis\u00a0NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs.<\/p>\n\n\n\n
The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump in net income to \u20ac16.8 billion (\u20ac1 = $1.0657), beating Bloomberg consensus estimates of \u20ac15.17B. Meanwhile, adjusted operating income margin moved up to 13% in 2022, topping Stellantis’ 2030 target of 12%.<\/p>\n\n\n\n
Total net revenues for the period gained by nearly a fifth to \u20ac179.59B, above expectations. The majority of the top-line figure stemmed from the group’s North America and European segments, which were both boosted by stronger pricing to offset increased raw material and energy costs.<\/p>\n\n\n\n
The revenue uptick countered an 8% dip in shipments in Europe that was caused by unfilled semiconductor orders, logistics challenges, and the discontinuation of the Peugeot 108 and Citro\u00ebn C1 models. Total vehicle sales slipped by 2% to six million.<\/p>\n\n\n\n
Stellantis noted that global battery electric car sales – like many of its peers, a key pillar of its long-term strategy – rose by 41% annually to 288,000.<\/p>\n\n\n\n
With the results in mind, the company unveiled a plan to repurchase \u20ac1.5B in shares this year. It also aims to pay out an ordinary dividend worth \u20ac4.2B, or \u20ac1.34 per share.<\/p>\n\n\n\n
Shares in Stellantis were in the green in early European trading on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stellantis\u00a0NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs. The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump in net income to \u20ac16.8 …<\/p>\n","protected":false},"author":9,"featured_media":80419,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7113,9475,9541,10217],"class_list":["post-80418","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-earnings","tag-q1","tag-revenues","tag-stellantis"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80418"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80418\/revisions"}],"predecessor-version":[{"id":80420,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80418\/revisions\/80420"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/80419"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}