Net Profit Soars 26% in 2022
To phrase it mildly, 2022 really was an outstanding year for Stellantis. Even amidst the difficulties of a troublesome setting, the vehicle conglomerate generated record profits. Net revenues expanded by an incredible 18 percent to €179.6 billion and net profit surged by an amazing 26 percent to €16.8 billion. To underline their success further, today Stellantis declared plans to share hefty payouts of above €2 billion as a form of profit-sharing and all kinds of bonuses.
Stellantis, with its array of sixteen global brands, is providing the most outstanding earnings-sharing bonus in company history; surpassing the previous year’s number by a remarkable €200 million. Additionally, it plans to give out €4.2 billion in dividends – about €1.34 each share. The financial forecast unquestionably looks robust, boasting total cash reserves of €61.3 billion. Before 2021 closes, there will be a stock repurchase program totaling up to €1.5 billion.
Regarding Stellantis’ plans for 2023, the company intends to introduce a fully electrified Ram ProMaster and eight other electric vehicles, thereby joining the current total of 23 models which do not operate at the expense of combustion engines. With this new lineup, by the end of 2021, there will be 47 vehicles featuring no reliance on fossil fuel and that figure is expected to exceed 75 by 2030.
Meanwhile, the automotive conglomerate that sprung from the merger between PSA Peugeot Citroën and Fiat Chrysler Automobiles (FCA) is proud to announce it tops all other competitors in BEV commercial vehicle sales within EU30 parameters, as well as resting comfortably in the number two spot for European-wide BEV sales. Additionally, the partnership holds the title of #1 in plug-in hybrid sales in the United States.
Discussing the record profit-sharing bonus, Stellantis CEO Carlos Tavares commented: “This is an equitable appreciation of the work of all Stellantis personnel in enabling Stellantis to succeed in an incredibly competitive economic environment. As the company does well, so do all its employees – that is the heart of our pay-for-performance culture.”