Following its reset, Stellantis announces a major loss for 2025

Just a few days after announcing a major reset of its global strategy and clearing, for a staggering 22 billion euros, the former Dare Forward 2030 plan, the Stellantis Group has published its financial results for the 2025 fiscal year. As many automotive industry observers expected, the raw figures show a delicate accounting situation with a net loss amounting to 22.3 billion euros. However, behind this balance sheet, which might seem alarming at first glance, tangible signs of improvement and operational stabilization are beginning to emerge, suggesting that the phase of cleaning up the books is now giving way to a dynamic of industrial recovery.

A year 2025 marked by exceptional charges and a necessary transition

The Stellantis financial balance sheet for the year 2025 highlights the structural challenges the group had to face in a context of profound global market transformation. Net revenue stood at 153.5 billion euros, representing a 2% decrease compared to the 2024 fiscal year. This contraction is mainly explained by unfavorable exchange rate developments and an erosion of net prices observed during the first half of 2025. Despite rigorous management, the group recorded a net loss of 22.3 billion euros, a figure directly correlated to massive exceptional charges amounting to 25.4 billion euros over the entire year. These charges reflect the strategic shift initiated by management to put customer expectations and technological freedom of choice back at the center of its priorities.

On the operational level, the current operating loss stood at 842 million euros, resulting in a slightly negative adjusted operating income (AOI) margin of 0.5%. This result was particularly impacted by specific elements related to the restructuring of the dealer network and production tools. At the same time, industrial free cash flow showed a negative value of 4.5 billion euros for the year. Faced with this situation and to guarantee the group's financial sustainability, the Board of Directors took the decision to suspend the dividend payment for the year 2026.

Antonio Filosa, CEO of Stellantis, commented on these results with transparency:

"Our results for the year 2025 reflect the cost of overestimating the pace of the energy transition and the imperative need to undertake a 'reset' to place the freedom of choice of our customers at the heart of our business within a complete range of electric, hybrid, and internal combustion engines. During the second half of the year, we began to see the first positive signs of progress following our quality improvement actions and the successful launch of our wave of new products, which led to a return to revenue growth. In 2026, we will continue relentlessly to fill the execution gaps of the past in order to sustainably support our profitable growth trajectory."

A second half of 2025 bringing hope and renewed growth

While the first half of 2025 was particularly challenging, the second half of the fiscal year, corresponding to the first six months under the management of the new leadership team, outlines a much more encouraging trajectory. The group has indeed returned to revenue growth, which increased by 10% year-on-year during the second half. This performance is driven by a significant increase in consolidated shipments, reaching 2.8 million units, an 11% progression. The improvement is particularly visible in North America, a key region where volumes jumped by 39% thanks to effective inventory normalization and renewed commercial momentum.

Beyond volumes, it is the intrinsic quality of operations that is progressing. Reliability indicators show that the number of problems reported by customers during the first month of service has dropped by more than 50% in North America and by more than 30% in Enlarged Europe. This operational rigor is accompanied by a major product offensive. In Europe, the launch of strategic models such as the Citroën C5 Aircross BEV and the Fiat 500 Hybrid strengthens the company's ability to meet diverse needs. The group thus confirms its outlook for 2026, forecasting a gradual improvement in its revenue and cash generation, with an acceleration expected between the first and second half of the coming year.

The year 2025 thus ends with a mixed feeling for Stellantis, marked by a massive accounting loss of 22.3 billion euros, mainly resulting from the cost necessary to clear the old Dare Forward 2030 strategic plan. However, detailed analysis shows that the group is not at a dead end. The second half of the year brought concrete evidence of recovery with a rise in revenue and better industrial efficiency. These positive signals constitute an essential working basis for future fiscal years. The market is now eagerly awaiting May 2026, when Stellantis will present its new strategic plan, intended to define the company's trajectory for the next decade.