- Net revenues of €152 billion, up 14%
- Adjusted operating income(“AOI”) nearly doubled to €18.0 billion, with 11.8% margin and all segments profitable
- Net profit of €13.4 billion, nearly tripled year-on-year
- Industrial free cash flows of €6.1 billion, mainly driven by strong profitability and net cash synergies
- Strong synergies execution with ~€3.2 billion net cash benefit
- Strong Industrial available liquidity at €62.7 billion
- €3.3 billion ordinary dividend to be paid, subject to shareholder approval
Figures denoted withare Pro Forma and are presented as if the merger was completed on January 1, 2020. All comparisons are to FY 2020 Pro Forma
Dubai, UAE- – As a new company formed on January 17, 2021, Stellantis N.V. posted record results for 2021, accelerating the realization of merger synergies and building solid commercial performance, driven by a clear focus on speed of execution from day one. Stellantis also unveiled ambitious electrification and software plans in the year, with planned investments of more than €30 billion through 2025 and strong partnerships announced in battery technology, battery materials and software development.
“Today’s record results prove that Stellantis is well positioned to deliver strong performance, even in the most uncertain market environments. I warmly thank all Stellantis employees across our regions, brands and functions for their contribution to building our new company powered by its diversity. I take this opportunity to also thank the management team for their relentless efforts as we faced and overcame intense headwinds. Together, we are focused on executing our plans as we race to become a sustainable mobility tech company.”
Carlos Tavares, CEO
| RESULTS FROM CONTINUING OPERATIONS | FY 2022 GUIDANCE Adjusted Operating Income Margin(2) Double-Digit Industrial Free Cash Flows(3) Positive Assumes economic and COVID-19 conditions remain substantially unchanged 2022 INDUSTRY OUTLOOK(5) North America +3% Middle East & Africa Stable South America +3% India & Asia Pacific +5% Enlarged Europe +3% China Stable | |||||||||
| (€ million) | 2021 | 2020 | ||||||||
| I F R S | Net revenues | 149,419 | 47,656 | |||||||
| Net profit | 13,218 | 2,338 | ||||||||
| Cash flows from operating activities | 18,646 | n.a. | ||||||||
| PRO FORMA | 2021 Pro Forma(1) | 2020 Pro Forma(1) | 2021 Pro Forma vs. 2020 Pro Forma | |||||||
| Net revenues | 152,119 | 133,882 | +14% | |||||||
| Net profit | 13,354 | 4,790 | +179% | |||||||
| N O N – G A A P | PRO FORMA | 2021 Pro Forma(1) | 2020 Pro Forma(1) | 2021 Pro Forma vs. 2020 Pro Forma | ||||||
| Adjusted operating income(2) | 18,011 | 9,224 | +95% | |||||||
| Adjusted operating income margin(2) | 11.8% | 6.9% | +490 | bps | ||||||
| Industrial free cash flows(3) | 6,072 | n.a. | n.a. | |||||||
n.a. = not applicable
Basis of preparation: All reported data is unaudited. “2021” and “2020” represent results as reportable under IFRS. 2021 includes Legacy FCA from January 17, 2021, following the closure of the merger; “2021 Pro Forma” and “2020 Pro Forma” are presented as if the merger had occurred January 1, 2020. Refer to the section “Notes” for additional detail. Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.
During 2021, Stellantis launched more than 10 new models, including the Citroën C4, Fiat Pulse, DS 4, Jeep® Grand Cherokee, Wagoneer, Maserati MC20, Opel Mokka, Opel Rocks-e and Peugeot 308. The Company accelerated its low emission vehicles (LEV) commercial momentum leveraging the portfolio of 34 LEV models in market including hydrogen fuel cell medium vans. Global LEV sales reached 388,000 units, up 160 % year-on-year with a number one position for battery electric van sales in EU30. Stellantis confirmed its strong position in the global commercial vehicles market with leadership in both EU30 and South America markets and achieved its highest ever worldwide pickup sales with approximately 1 million vehicles sold.
In North America, the Jeep Wrangler 4xe was the bestselling plug-in hybrid electric vehicle in U.S. retail for 2021.
In South America, Stellantis was the market leader in 2021 with 22.9% share, and was also the leader in commercial vehicles with 30.9 % market share.
In Enlarged Europe, Stellantis was the EU30 market leader in commercial vehicles with 33.7% market share for 2021. The Peugeot 208 was the number one selling vehicle in the EU30 and the 2008 was number one in the EU30 B-SUV segment for 2021.
In Middle East & Africa, consolidated shipments were up 6%, while market share grew in most major markets year-on-year.
In India & Asia Pacific, the Company is preparing to launch the all-new Citroën C3, developed and produced in India.
In China, Dongfeng Peugeot Citroën Automobile Co. Ltd (DPCA), more than doubled its annual sales volume of 2020 with 100,000 units sold and Stellantis became the fourth largest Independent After Market (IAM) parts distributor in China with sales growth of approximately 30% year on year.
Maserati global market share grew to 2.4%, with North America and China market share at 2.9% and 2.7%, respectively, for 2021.
Stellantis also took important steps to strengthening its global financing operations in the U.S. with the creation of Stellantis Financial Services US Corp., as well as in Europe with enhanced financing partnerships with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance.
On February 23, 2022 at 2:00 p.m. CET / 8:00 a.m. EST, a live webcast and conference was held to present Stellantis Full Year 2021 Results. The webcast and recorded replay is now accessible under the Investors section of the Stellantis corporate website at www.stellantis.com.