Stellantis wrapped up 2023 with notable growth in both profits and revenues. The automotive group disclosed that its net revenues surged by 6%, reaching €189.5 billion, while net profit soared by 11%, amounting to €18.6 billion. The net industrial cash flow saw a significant rise of 19%, hitting €12.9 billion, with available industrial liquidity standing at €61.1 billion.
Throughout the year, Stellantis distributed dividends and repurchased shares totaling €6.6 billion to its shareholders, marking a 53% increase from the previous year’s €4.3 billion. The company proposed a dividend of €1.55 per share for 2023, up 16% from the previous year, pending shareholder approval. Additionally, a share buyback program for 2024 worth €3 billion was announced.
2023 proved to be an exceptionally positive year for Stellantis
On the delivery front, Stellantis reported a 7% increase, with 6.2 million units delivered. Regional details reveal a growth of 7.1% in enlarged Europe, 2.2% in North America, 2.3% in South America, and an impressive 56.5% in the Middle East and Africa, while China, India, Asia, and the Pacific experienced a 19.6% decline.
Despite a 10% decrease in operating profit in the second half of 2023, due to costs associated with a prolonged strike that affected Stellantis among others in the United States, the adjusted operating margin saw a slight increase of 1%, reaching €24.34 billion. Regarding employee benefits, the automotive giant announced that its global workforce would receive a total bonus of nearly €1.9 billion.
From a commercial perspective, Stellantis highlighted a 21% increase in global sales of battery electric vehicles (BEV) and a 27% increase in low-emission vehicles (LEV), with PHEV models standing out in the United States. The company is advancing its electrification strategy, announcing the launch of 18 new BEVs in North America in 2024, bringing the total to 48 models by the end of the year.
Stellantis also emphasized significant initiatives in electrification and sustainability, such as the debut of the STLA Medium platform with the Peugeot e-3008, and plans to launch the STLA Large platform in 2024. The company has secured the supply of critical raw materials until 2027 and signed strategic agreements for the supply of key components for its electric vehicles.
Last year, Stellantis inaugurated SymphonHy, Europe’s largest facility dedicated to hydrogen fuel cell production, and announced a joint venture with Foxconn for the production of custom chips. Looking ahead, Stellantis is committed to maintaining a double-digit adjusted operating profit margin and positive net industrial cash flow, despite macroeconomic uncertainties. Carlos Tavares, CEO of Stellantis, expressed confidence in the company’s ability to navigate the challenges of 2024, highlighting the resilience and agility demonstrated by Stellantis in its first three years.