Stellantis(STLA) Newsfilter·2025-02-26 07:02Core Insights - Stellantis reported full-year 2024 results that fell short of expectations, with significant declines in net revenues and profits, but achieved strategic milestones in product development and partnerships [1][4][5] - The company anticipates a return to profitable growth and positive cash generation in 2025, with a focus on market share and financial performance improvement [2][4] Financial Performance - Net revenues for 2024 were €156.9 billion, down 17% from €189.5 billion in 2023 [3][5] - Net profit decreased by 70% to €5.5 billion from €18.6 billion in 2023 [3][5] - Adjusted operating income fell 64% to €8.6 billion, with an adjusted operating income margin of 5.5%, down from 12.8% [3][5] - Industrial free cash flows were negative €6 billion, a decline of 147% from €12.9 billion in 2023 [3][5] Strategic Initiatives - Stellantis initiated the transition to next-generation products based on new STLA multi-energy platforms, offering various powertrain options [5][6] - The company launched a partnership with Leapmotor and began production of EV batteries through joint ventures [1][5] - A total of 10 new products are planned for launch in 2025 [7] Segment Performance - North America shipments decreased to 1.432 million units, down from 1.903 million units in 2023, with net revenues dropping to €63.5 billion [12] - Enlarged Europe also saw a decline in shipments to 2.576 million units from 2.814 million units, with net revenues falling to €59 billion [12] - The Middle East & Africa segment reported a decrease in net revenues to €10.1 billion, while South America saw a slight increase in shipments to 912,000 units [13][16] Future Outlook - Stellantis expects "Positive" net revenue growth and "Mid-Single Digits" adjusted operating income margin for 2025, reflecting early-stage commercial recovery amid industry uncertainties [5][4] - The company proposed a dividend of €0.68 per share, pending shareholder approval, representing a 5% yield [10]