For several years, the Stellantis group, and before it PSA, has shown excellent performance, with very high levels of sales, profit and operating margin. The first half of 20233 does not change the rule, as Stellantis continues to show excellent performance, particularly in terms of margin, which is at a very high level.
The Stellantis Group posted a 12% increase in revenue to €98.4 billion, thanks to higher sales volumes, particularly of low-emission vehicles, which grew by 28% to 169,000 units for electric vehicles and by 24% to 315,000 units for hybrids. The group's operating income increased by 11% to €14.1 billion, which enabled it to post a net margin of 14.4%, a stratospheric margin for a carmaker, worthy of premium brands and higher than that recorded in the same period in 2022. Lastly, the group's net profit is €10.9 billion, up 37% on the first half of 2022, and the available free cash flow explodes with an increase of 64% to reach €8.7 billion, or €3.3 billion more than in 2022.
The Stellantis Group therefore confirms its excellent financial health with the presentation of its half-year results, which show that all is well for the Group, which is once again one of the most profitable in the world. Despite a challenging business environment, Stellantis is successfully meeting the commitments of its Dare Forward 2030 plan by effectively focusing on three main pillars:
Commitment : As outlined in its 2022 CSR report, Stellantis is on track to meet its ambitious commitment to achieve carbon neutrality by 2038, with a single-digit percentage of residual emissions offset. Specifically, its global carbon footprint in 2022 was reduced by 3.8% (tonnes of CO2 equivalents/vehicle) in Scopes 1, 2 and 3 per vehicle sold compared to 2021. Its carbon footprint reduction strategy is based in particular on the "grEEn-campus" workplace transformation programme, which aims to create collaborative and carbon-neutral workplaces, starting with its three historic sites: Poissy in France, Rüsselsheim in Germany and Mirafiori in Italy. The company is also continuing to forge strategic partnerships to support its commitment to achieving a net zero carbon footprint, notably with the planned acquisition of 33.3% of Symbio, a leader in zero-emission hydrogen mobility, and the creation of a joint venture with Galloo for the recycling of end-of-life vehicles.
Technology : The electrification of the product range continues with global sales of BEV electric vehicles and low-emission vehicles (LEVs) up 24% year-on-year to 169,000 units and 28% to 315,000 units respectively. Stellantis is now third in BEV sales in Europe 30 and second in LEV sales in the US market. The company now has 25 electric vehicles on the market, with a further 23 BEV launches expected by 2024. The start of this new era of electrified products was marked by the presentation of STLA Medium, Stellantis' first global platform designed for electric vehicles in segments C and D. At stake: autonomy, energy efficiency, on-board performance and charging power, which will be the best in their category. After inaugurating the ACC Gigafactory in France, the company recently announced plans to build a second StarPlus Energy Gigafactory in the United States with Samsung SDI. Finally, Stellantis Ventures has made 11 significant investments since its inception in March 2022, including in Lyten Inc.'s cutting-edge lithium-sulfur battery technology for electric vehicles, which does not use nickel, cobalt or manganese.
The company is currently implementing a multi-pronged strategy to secure supply and drive innovation for critical components needed to transform Stellantis into a sustainable mobility technology company. Its new joint venture with Foxconn, SiliconAuto, announced in June 2023, aims to develop and commercialise a family of advanced automotive semiconductors from 2026.
Stellantis has also recently increased its strategic stake in the capital of Archer Aviation and the construction of the world's first mass production facility for eVTOL aircraft is well underway in Georgia, USA.
Value : Stellantis has announced a new organisation for its financing and leasing activities in Europe, simplifying and strengthening its multi-brand capability with the new Stellantis Financial Services and Leasys entities. The company has also strengthened its activities in the United States with a receivables portfolio of nearly €4 billion ($4 billion) as of 30 June 2023 and a target of €9 billion ($10 billion) by the end of 2024.
Stellantis is the leading commercial vehicle manufacturer in Europe (EU 30) and South America with 30.9% and 26.8% market share respectively, and the number one in BEV sales in Europe 30. The all-new electric Ram ProMaster, Stellantis' first BEV van in North America, will be launched later this year, complementing the state-of-the-art hydrogen fuel cell van offering currently available in the European market.
Stellantis has launched Free2move Charge, an ecosystem of charging and energy management solutions for electric vehicle drivers in North America and Europe. Expanding its bespoke mobility services, Free2move now has more than 50% of the car-sharing market in Europe, with more than 6 million customers in 19 cities and 9 countries, and 16 million journeys on the meter by 2022.
Stellantis, which has reached €0.7 billion of its €1.5 billion share buy-back programme (i.e. almost 45 million shares bought back as of 30 June 2023), intends to complete its programme before the end of 2023, with more than €6 billion returned to shareholders and employees in dividends and bonuses for the 2022 financial year.