Stellantis: financial forecasts for 2024 reiterated
June 13, 2024 at 03:39 am
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On Thursday, Stellantis reiterated its financial forecasts for 2024 ahead of an investor day to be held later in the day in Auburn Hills (Michigan).
The automotive group confirmed its target of a "double-digit" adjusted operating margin this year, accompanied by positive industrial free cash flow.
However, CFO Natalie Knight warned that she expects performance to vary between the first and second halves of the year.
The first half of the year should see an operating margin of around 10%-11%, with industrial free cash flow significantly lower than last year.
The second half, meanwhile, will be marked by several product launches, cost initiatives and the anticipated improvement in working capital.
All these elements should, according to the manufacturer, support a sequential improvement in its operating margin and industrial free cash flow.
As regards returns to shareholders, Stellantis says it is aiming to distribute over 7.7 billion euros in dividends and share buybacks this year.
By 2025, the company says it is aiming for the upper end of its dividend payout policy (25-30%), compared with 25% in recent years.
These announcements were greeted with little enthusiasm on the Paris Bourse, where the share lost almost 1% at the start of the session in a CAC 40 index down 0.3%.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).
STELLANTIS N.V. 
