With Important Product-Led Transition Year Underway, Stellantis Delivers €5.6 Billion Net Profit, €8.5 Billion AOI and 10% AOI Margin in the First Half of 2024
Stellantis reported mixed financial results for the first half of 2024, with net revenues of €85.0 billion, down 14% compared to H1 2023. The company's net profit decreased by 48% to €5.6 billion, primarily due to lower volume and mix, foreign exchange headwinds, and restructuring costs. Adjusted operating income (AOI) fell to €8.5 billion, with an AOI margin of 10%.
Despite challenges, Stellantis is taking decisive actions to address operational issues, particularly in North America. The company plans over 20 product launches in 2024, including the refreshed Ram 1500 and new Peugeot 3008. Stellantis has also received approvals to launch the Leapmotor International JV, expanding its presence in key markets.
The company returned €6.7 billion to shareholders in H1 2024 and remains committed to returning at least €7.7 billion by year-end. Industrial free cash flows were near zero (-€0.4 billion) but are expected to improve in the second half of the year.
Stellantis ha riportato risultati finanziari misti per la prima metà del 2024, con entrate nette di 85,0 miliardi di euro, in calo del 14% rispetto al primo semestre del 2023. L'utile netto dell'azienda è diminuito del 48% a 5,6 miliardi di euro, principalmente a causa di un volume e mix inferiori, fluttuazioni dei cambi e costi di ristrutturazione. L'utile operativo rettificato (AOI) è sceso a 8,5 miliardi di euro, con un margine AOI del 10%.
Nonostante le sfide, Stellantis sta intraprendendo azioni decisive per affrontare i problemi operativi, in particolare in Nord America. L'azienda prevede oltre 20 lanci di prodotti nel 2024, compresi il rinnovato Ram 1500 e il nuovo Peugeot 3008. Stellantis ha inoltre ricevuto approvazioni per lanciare la joint venture Leapmotor International, ampliando la propria presenza in mercati chiave.
L'azienda ha restituito 6,7 miliardi di euro agli azionisti nel primo semestre del 2024 e rimane impegnata a restituire almeno 7,7 miliardi di euro entro la fine dell'anno. I flussi di cassa industriali liberi sono stati vicini a zero (-0,4 miliardi di euro) ma ci si attende un miglioramento nella seconda metà dell'anno.
Stellantis reportó resultados financieros mixtos para la primera mitad de 2024, con ingresos netos de 85,0 mil millones de euros, una caída del 14% en comparación con el primer semestre de 2023. La ganancia neta de la compañía disminuyó un 48% a 5,6 mil millones de euros, principalmente debido a un menor volumen y mezcla, presiones cambiarias y costos de reestructuración. Los ingresos operativos ajustados (AOI) cayeron a 8,5 mil millones de euros, con un margen de AOI del 10%.
A pesar de los desafíos, Stellantis está tomando acciones decisivas para abordar problemas operativos, particularmente en América del Norte. La compañía planea más de 20 lanzamientos de productos en 2024, incluyendo el renovado Ram 1500 y el nuevo Peugeot 3008. Stellantis también ha recibido aprobaciones para lanzar la empresa conjunta Leapmotor International, expandiendo su presencia en mercados clave.
La compañía devolvió 6,7 mil millones de euros a los accionistas en la primera mitad de 2024 y sigue comprometida a devolver al menos 7,7 mil millones de euros para finales de año. Los flujos de efectivo libres industriales estuvieron cerca de cero (-0,4 mil millones de euros) pero se espera que mejoren en la segunda mitad del año.
스텔란티스는 2024년 상반기 혼합된 재무 결과를 보고했으며, 넷 수익이 850억 유로로 2023년 상반기 대비 14% 감소했습니다. 이 회사의 순이익은 48% 감소한 56억 유로로, 주로 낮은 판매량 및 믹스, 외환 변동, 구조조정 비용 때문입니다. 조정된 운영 수익(AOI)는 85억 유로로 감소, AOI 마진은 10%입니다.
어려움에도 불구하고, 스텔란티스는 특히 북미에서 운영 문제를 해결하기 위해 결정적인 행동을 취하고 있습니다. 이 회사는 2024년에 20개 이상의 제품 출시 계획, 새로워진 Ram 1500과 새로운 Peugeot 3008을 포함하고 있습니다. 스텔란티스는 또한 Leapmotor International 합작투자 출시 승인을 받아 중요한 시장에서의 존재감을 확대하고 있습니다.
이 회사는 2024년 상반기 동안 주주에게 67억 유로를 반환했습니다 부터 연말까지 최소 77억 유로를 반환할 예정입니다. 산업 자유 현금 흐름은 거의 제로에 가까웠고 (-40억 유로) 하반기에는 개선될 것으로 예상됩니다.
Stellantis a rapporté des résultats financiers mitigés pour la première moitié de 2024, avec des revenus nets de 85,0 milliards d’euros, en baisse de 14 % par rapport au premier semestre 2023. Le bénéfice net de l’entreprise a diminué de 48 % pour atteindre 5,6 milliards d'euros, principalement en raison d'un volume et d'un mix plus faibles, des pressions de change et des coûts de restructuration. Le résultat opérationnel ajusté (AOI) est tombé à 8,5 milliards d'euros, avec une marge AOI de 10 %.
Malgré les défis, Stellantis prend des mesures décisives pour résoudre les problèmes opérationnels, notamment en Amérique du Nord. L'entreprise prévoit plus de 20 lancements de produits en 2024, y compris le Ram 1500 renouvelé et le nouveau Peugeot 3008. Stellantis a également obtenu des approbations pour lancer la coentreprise Leapmotor International, élargissant sa présence sur les marchés clés.
L'entreprise a restitué 6,7 milliards d'euros à ses actionnaires au premier semestre 2024 et reste engagée à restituer au moins 7,7 milliards d'euros d'ici la fin de l'année. Les flux de trésorerie libre industriels étaient proches de zéro (-0,4 milliard d'euros) mais devraient s'améliorer au cours de la seconde moitié de l'année.
Stellantis meldete gemischte Finanzergebnisse für die erste Hälfte des Jahres 2024, mit netto Einnahmen von 85,0 Milliarden Euro, was einen Rückgang um 14% im Vergleich zum ersten Halbjahr 2023 bedeutet. Der Netto Gewinn des Unternehmens sank um 48% auf 5,6 Milliarden Euro, hauptsächlich aufgrund eines niedrigeren Volumens und Mixes, Wechselkursdruck und Restrukturierungskosten. Der bereinigte Betriebsgewinn (AOI) fiel auf 8,5 Milliarden Euro, mit einer AOI-Marge von 10%.
Trotz der Herausforderungen ergreift Stellantis entschiedene Maßnahmen, um betriebliche Probleme anzugehen, insbesondere in Nordamerika. Das Unternehmen plant über 20 Produkteinführungen im Jahr 2024, darunter den überarbeiteten Ram 1500 und den neuen Peugeot 3008. Stellantis hat auch Genehmigungen erhalten, um das Joint Venture Leapmotor International zu starten und seine Präsenz in wichtigen Märkten auszubauen.
Das Unternehmen gab 6,7 Milliarden Euro an Aktionäre zurück in der ersten Hälfte von 2024 und verpflichtet sich, bis zum Jahresende mindestens 7,7 Milliarden Euro zurückzugeben. Die freien industriellen Cashflows lagen nahe null (-0,4 Milliarden Euro), sollen sich aber in der zweiten Jahreshälfte verbessern.
- Maintained a 10% Adjusted Operating Income (AOI) margin despite revenue decline
- Returned €6.7 billion to shareholders in H1 2024
- Committed to returning at least €7.7 billion to shareholders by end of 2024
- Reduced total inventory by 3% to 1,408 thousand units in H1 2024
- Planned launch of over 20 new products in 2024
- Received approvals for Leapmotor International JV, expanding market presence
- Net revenues down 14% to €85.0 billion compared to H1 2023
- Net profit decreased 48% to €5.6 billion compared to H1 2023
- Adjusted Operating Income (AOI) fell by €5.7 billion to €8.5 billion
- Industrial free cash flows near zero at -€0.4 billion
- Operational challenges in North American market share and inventory performance
Insights
Stellantis' first-half 2024 results paint a complex picture of a company in transition. The 14% decline in net revenues to €85.0 billion and 48% drop in net profit to €5.6 billion are significant, primarily attributed to volume and mix challenges. However, the 10% AOI margin demonstrates resilience in cost management.
The near-zero industrial free cash flow (-€0.4 billion) is concerning, but management's expectation of positive full-year cash flow suggests potential improvement in H2. The 3% reduction in total inventory is a positive sign of supply chain management, important in the current market.
Stellantis' product strategy, with over 20 launches planned for 2024, including the refreshed Ram 1500 and new Peugeot 3008, could be pivotal in addressing market share challenges, particularly in North America. The Leapmotor International JV approval also opens new market opportunities.
The
Stellantis' H1 2024 results reflect the challenges faced by global automakers in a rapidly evolving market. The company's focus on a "product-led transition" is crucial, given the industry's shift towards electrification and advanced technologies.
The planned launch of over 20 new models in 2024 is ambitious and necessary. The refreshed Ram 1500 is particularly important for the North American market, where Stellantis has faced share and inventory challenges. The new Peugeot 3008, built on the STLA platform, will be a litmus test for the company's new vehicle architecture strategy.
The Leapmotor International JV is a strategic move to expand in the EV market, especially in regions like Europe and South America. This could help Stellantis catch up in the EV race, where it has lagged behind some competitors.
However, the
Stellantis' H1 2024 performance reveals significant market challenges, particularly in North America. The company's acknowledgment of "operational challenges, including North American share and inventory performance" suggests a loss of market position in this important region.
The
The planned launch of over 20 new models in 2024 is ambitious and could help address market share issues. However, the success of these launches will depend on consumer reception and the company's ability to manage production ramp-up effectively.
The Leapmotor International JV approval is a positive development, potentially opening new markets for Stellantis' EV offerings. The phased rollout across different regions (Europe, South America, Middle East & Africa, India & Asia Pacific) suggests a cautious but strategic approach to global EV expansion.
Overall, while Stellantis is taking steps to address its challenges, the company's ability to execute its product strategy and improve operational efficiency will be important in regaining market momentum.
With Important Product-Led Transition Year Underway, Stellantis Delivers
- Net revenues of €85.0 billion, down
14% compared to H1 2023, primarily due to the decline in volume and mix - Net profit of €5.6 billion, down
48% compared to H1 2023, primarily due to lower volume and mix, headwinds from foreign exchange and restructuring costs - Adjusted operating income(1) of €8.5 billion, down
€5.7 billion compared to H1 2023, primarily due to decreases in North America - AOI margin(2) of
10% , reflecting direct materials, workforce and logistics cost reductions which helped to mitigate the revenue decline - Management taking decisive actions to address operational challenges, including North American share and inventory performance
- Industrial free cash flows(3) near zero (-
€0.4 billion ), impacted by lower AOI(1), as well as negative working capital development and higher investment spend, both expected to evolve favorably in the second half, supporting positive full-year Industrial free cash flow - Total inventory reduced by
3% to 1,408 thousand units over the first six months of 2024 - More than 20 launches planned in 2024, including a refreshed Ram 1500, European van range and the Peugeot 3008, the first on the new STLA family of platforms. Received all necessary approvals to launch the Leapmotor International JV, with initial deliveries in Enlarged Europe near the end of Q3 2024, followed by South America, Middle East & Africa and India & Asia Pacific
- Returned
€6.7 billion in capital in the first half, reflecting in part the accelerated execution of the€3.0 billion 2024 share buyback program, and remain committed to return at least€7.7 billion before the end of 2024
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