Stellantis Delivers Full Year 2024 Results Consistent with Updated Financial Guidance; Expects Return to Profitable Growth and Positive Cash Generation in 2025
Net revenues of €156.9 billion, down 17% compared to 2023, with consolidated shipment volumes decreasing 12% due to temporary gaps in product offerings, as well as now-complete inventory reduction initiatives
Net profit of €5.5 billion, down 70%. Adjusted operating income(1) of €8.6 billion fell 64% with AOI margin(2) of 5.5%
Industrial free cash flows(3) were negative €6 billion reflecting the decline in income and temporary enlarged working capital impact due to production adjustments
Total inventories on December 31, 2024 were 18% or 268 thousand units lower year-over-year, including a 20% drop in U.S. dealer stock to 304 thousand units, surpassing previously communicated target of 330 thousand units
Generational product portfolio transition initiated in 2024 with the first products launched on STLA Medium and STLA Large platforms, and scaled globalization of Smart Car platform through the European launch of Citroën C3/ë-C3
Total industrial available liquidity ended 2024 at €49.5 billion, with Industrial net financial position at €15.1 billion Dividend to common shareholders proposed at €0.68 per share, representing a 5% yield, pending shareholder approval
2025 financial guidance of “Positive” Net Revenue Growth, “Mid-Single Digits” AOI margin and “Positive” industrial free cash flows, reflecting both the early stage of the commercial recovery as well as elevated industry uncertainties
The process to appoint the new permanent Chief Executive Officer is well underway and will be concluded within the first half of 2025. In the meantime, the Company is focused on execution