Stellantis posts results of First Half of 2023

The company is investing heavily in electrification and plans to launch 30 new BEV models by 2025 and achieve 50% BEV sales in Europe by 2030.

Amsterdam- Stellantis N.V., reported record first-half 2023 financial results, with net revenues of €98.4 billion, adjusted operating income of €14.1 billion, and net profit of €10.9 billion.

The company's strong results were driven by higher shipments, a favorable product mix, and cost savings. Stellantis also benefited from strong demand for its electrified vehicles, with global BEV and LEV sales up 24% and 28% year-over-year, respectively.

Stellantis is well positioned to continue to grow and profitably in the years to come. The company is investing heavily in electrification and plans to launch 30 new BEV models by 2025 and achieve 50% BEV sales in Europe by 2030.

In addition to its financial results, Stellantis also announced that it has repurchased €0.7 billion in shares in the first half of 2023. The company expects to complete the announced €1.5 billion share buyback program before the end of 2023.

Carlos Tavares, CEO of Stellantis said, “Our outstanding performance in the first half of this year supports our long-term sustainability and our ability to achieve the bold ambitions of our Dare Forward 2030 plan. It takes a united effort and open mindset across all our employees to embark on our no-compromise transformation journey while protecting the Company from external challenges. I want to express my gratitude to each and every employee and I am proud to say that the teams are delivering across multiple dimensions. We are well-positioned for the remainder of 2023 and beyond.”