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Stellantis Worker at work within the EDCT assembly plant of the Stellantis group of the new hybrid vehicles and PHEV on April 10, 2024 in Turin, Italy.
Stefano Guidi | Getty Images News | Getty images
Automatic crisis giant Stellantis On Wednesday, he said that he sees the return to income growth this year after a strong drop in profits of 2024.
The mutlinational conglomerate, which has known names, including Jeep, Dodge, Fiat, Chrysler and Peugeot, recorded a net gain of 5.5 billion euros ($ 5.77 billion), 70% lower from 18.6 billion euros Throughout the year 2023.
Analysts expected the net profits of the year 2024 to reach 6.4 billion euros, according to a consensus compiled by LSE.
Stellantis said he hopes to return to profitable growth and the positive generation of cash in 2025, which reflects the initial stage of a commercial recovery and elevated uncertainties of the industry.
The results occur when the company continues its search for a new executive director after Abrupt game by Carlos Tavares at the end of last year.
Stellantis saying He hopes to appoint a successor during the first half of this year, with President John Elkann leading an interim executive committee until the position is occupied.
Other outstanding aspects of profits:
- Net income reached 156.9 billion euros, 17% less than the previous year
- Margin of adjusted operational income of 5.5%, at the lower end of the updated financial orientation of the company
“While 2024 was a year of marked contrasts for the company, with results below our potential, we achieved important strategic milestones,” Elkann said in a statement that accompanies the results.
“In particular, we begin the deployment of new platforms and multiple energy products, which continues in 2025, we begin the production of EV batteries through our JV and launched the Leapmotor International Association,” he added.
Elkann said the company was “firmly focused” both to gain market share and improve financial performance until 2025.
The shares of the company that quotes in Milan fell 4% on Wednesday morning.
The automobile manufacturer, like many of its peers, has been affected by a series of challenges in recent months, including North America’s problems, a global decrease in the demand for new cars and difficulties in the world’s largest car market.
Stellantis issued A gain warning in September, warning of the lowest sales than expected “in most regions” in the second half of 2024.
