Stellantis Announces EUR 3 Billion Buyback After Record Sales in 2023

Posted byOliviaPosted inUncategorizedTags:, , , ,
  1. Strong Financial Performance:
    Stellantis reported record sales and aftertax profit for the fiscal year 2023, with net revenue reaching EUR 189.54 billion, a 6% increase from the previous year. Aftertax profit stood at EUR 18.625 billion, demonstrating substantial growth compared to 2022.
  2. Share Buyback Program:
    In response to its robust financial performance, Stellantis unveiled a EUR 3 billion share buyback program. Additionally, the company proposed a dividend of EUR 1.55 per common share, marking a 16% increase from the prior year.
  3. Adjusted Operating Income:
    Stellantis’ adjusted operating income for the year reached EUR 24.34 billion, slightly surpassing analyst expectations. However, the adjusted operating income margin experienced a slight decline, standing at 12.8% compared to 13.4% in 2022.
  4. Industrial Free Cash Flow:
    Industrial free cash flow rose by 19% to EUR 12.86 billion, reflecting the company’s strong financial position and operational efficiency.
  5. Performance Trends:
    While Stellantis achieved record-breaking results for the year, the second half saw a slowdown compared to the same period in 2022, aligning with broader industry trends. Despite flat net revenue, adjusted operating income decreased by 10% in the second half.
  6. Future Outlook:
    Stellantis anticipates maintaining an adjusted operating margin in at least the double digits and positive industrial free cash flow in 2024. The company remains optimistic about its revenue prospects but acknowledges potential challenges such as pricing dynamics, labor costs, and market uncertainties in the fully-electric vehicle segment.
  7. Resilient Position:
    Natalie Knight, Stellantis’ Chief Financial Officer, expressed confidence in the company’s resilience and readiness to navigate potential turbulence in the automotive market. Despite anticipated challenges, Stellantis is positioned to capitalize on high demand while addressing key operational and market factors.

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