Stellantis Reports 14% Increase in Q1 2023 Net Revenues, All Segments Contributing Positively
- Net revenues of €47.2 billion, up 14% compared to Q1 2022 mainly due to higher shipments and strong net pricing.
- Consolidated shipments(1) of 1,476 thousand units, up 7% primarily due to improvement in semiconductor order fulfilment versus Q1 2022.
- Total new vehicle inventory of 1,302 thousand units on March 31, 2023, reflecting a return to normal inventory levels; includes Company inventory of 384 thousand units.
- Ordinary dividend of €1.34 per share approved at AGM to be paid to shareholders on May 4, 2023.
- €1.5 billion stock buyback initiated, first €500 million tranche expected to be completed in June 2023.
- Global BEV sales increased 22% versus Q1 2022; ongoing global focus with 9 new BEVs launching in 2023.
“Stellantis is off to a solid start in 2023, maintaining the momentum from an excellent 2022 and posting robust shipments and Net revenues in all segments. Our global footprint and diverse product portfolio mean we are well-positioned to continue delivering strong financial performance throughout the year. We will add nine new battery electric vehicles to our product offering this year, continuing our drive to deliver clean, safe and affordable mobility for all.”Richard Palmer, CFO
| RESULTS FROM CONTINUING OPERATIONS | FY 2023 GUIDANCE – CONFIRMED Adjusted Operating Income Margin(2) Double-Digit Industrial Free Cash Flows(3) Positive 2023 INDUSTRY OUTLOOK(4)* North America +5% Enlarged Europe +5% Middle East & Africa +5% South America +3% India & Asia Pacific +5% China +2% *2023 Industry Outlook unchanged for all regions compared to outlook provided on Feb 22 ’23 | ||||||
| Q1 2023 | Q1 2022 | Change | |||||
| Combined shipments (000 units) | 1,538 | 1,420 | +8% | ||||
| Consolidated shipments (000 units) | 1,476 | 1,374 | +7% | ||||
| Net revenues (€ billion) | 47.2 | 41.5 | +14% |
All reported data is unaudited. Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.
United Arab Emirates, May 5, 2023
Stellantis continues to energize its drive to deliver clean, safe and affordable mobility around the world and meet the challenging commitments of the Dare Forward 2030 strategic plan, reporting a 14% year-over-year increase in Q1 2023 Net revenues with all segments contributing positively.
Global battery electric vehicle (BEV) sales increased 22% year-over-year. There are 9 additional BEVs to be launched in 2023, and total BEV offerings to reach 47 by the end of 2024.
The electrification offensive in North America is fast approaching, highlighted by the unveiling of the all-new, all-electric Ram 1500 REV at the New York International Auto Show. The Jeep® Avenger, the brand’s first-ever BEV, was named “2023 European Car of the Year” and it was also recognized as “World’s Best Family SUV in 2023” by the Women’s World Car of the Year Awards.
Stellantis is focused on the execution of the three pillars outlined in the Dare Forward 2030 strategic plan:
Care: Stellantis emphasized its commitment to global gender equality via the adoption of the United Nations Women’s Empowerment Principles. In the march toward carbon neutrality, the Company signed a binding term sheet with Vulcan to develop new geothermal projects aimed at decarbonizing the energy mix of the Rüsselsheim industrial site in Germany.
Tech: Stellantis maintained a quick pace in the electrification transformation. Manufacturing investment announcements were made in Mangualde, Portugal; Eisenach, Germany; Cassino, Italy; and, Kokomo, Indiana, the U.S. Continuing to build its network of partnerships to ensure supply of essential battery materials, the Company signed strategic deals with McEwen Copper, Terrafame Ltd., and Element 25. Stellantis also expanded its software development and engineering network to eight hubs with a new operation in Gliwice, Poland.
Value: Stellantis took various actions supporting growth in the Middle East & Africa region, including signing a framework agreement with South African authorities to develop a manufacturing facility, entering into an agreement with Koç Holding to further expand the existing Tofaş joint venture in Turkey, and, in Algeria, launching the FIAT brand which plans to have six carlines in market. In Europe, the implementation of the New Retailer Model will begin in mid-2023 in the pilot countries following an agreement with the European dealer associations.
On May 3, 2023, at 2:00 p.m. CEST / 8:00 a.m. EDT, a live audio webcast and conference call will be held to present Stellantis’ First Quarter 2023 Shipments and Revenues. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website at www.stellantis.com. The presentation material is expected to be posted under the Investors section of the Stellantis corporate website at approximately 8:00 a.m. CEST / 2:00 a.m. EDT on May 3, 2023.
Financial Calendar:
H1 2023 – Full Financial Results – July 26, 2023
Q3 2023 – Shipments and Revenues – October 31, 2023
