Date: May 5, 2022 | STELLANTIS N.V. | ||||||||||
By: | /s/ Richard K. Palmer | ||||||||||
Name: Richard K. Palmer | |||||||||||
Title: Chief Financial Officer |
RESULTS FROM CONTINUING OPERATIONS | FY 2022 GUIDANCE - CONFIRMED Adjusted Operating Income Margin(3) Double-Digit Industrial Free Cash Flows(4) Positive Assumes economic and COVID-19 conditions remain substantially unchanged 2022 INDUSTRY OUTLOOK(5)* North America Stable (from +3%) South America +3% Enlarged Europe -2% (from +3%) India & Asia Pacific +5% Middle East & Africa Stable China Stable *2022 Industry Outlook unchanged for all regions except NA and EE compared to outlook provided on Feb 23 '22; NA and EE reduced as noted above | ||||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | Q1 2022 vs. Q1 2021 Pro Forma | Q1 2021 | ||||||||||||||||||||||||||||||||
Combined shipments (000 units) | 1,420 | 1,618 | (12)% | 1,526 | |||||||||||||||||||||||||||||||
Consolidated shipments (000 units) | 1,374 | 1,567 | (12)% | 1,477 | |||||||||||||||||||||||||||||||
Net revenues (€ billion) | 41.5 | 37.0 | +12% | 34.3 |
NORTH AMERICA | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Shipments up 6%, mainly due to strong demand for all-new Jeep Grand Cherokee L, all-new Wagoneer/Grand Wagoneer and mid-cycle refresh of Jeep Compass, partially offset by lower Jeep Cherokee volumes •Net revenues up 30%, primarily due to strong net pricing, favorable vehicle and market mix, positive FX translation effects, as well as increased volumes | |||||||||||||||||||||||||||||
Shipments (000s) | 480 | 451 | +29 | |||||||||||||||||||||||||||||
Net revenues (€ million) | 20,693 | 15,916 | +4,777 |
ENLARGED EUROPE | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Shipments down 24%, primarily due to impact of significantly increased unfilled semiconductor orders in Q1 2022, partially offset by demand for all-new Opel Mokka, DS4, Fiat Professional Scudo, as well as Fiat New 500 •Net revenues down 9%, with positive net pricing and favorable vehicle mix, primarily driven by increased BEVs and PHEVs, more than offset by lower shipments | |||||||||||||||||||||||||||||
Shipments (000s) | 622 | 823 | (201) | |||||||||||||||||||||||||||||
Net revenues (€ million) | 14,622 | 16,029 | (1,407) |
MIDDLE EAST & AFRICA | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Consolidated shipments down 4%, with higher volumes of all-new Opel Mokka, Jeep Grand Cherokee, all-new Citroën C4 and Peugeot 3008, more than offset by impact of increased unfilled semiconductor orders •Net revenues up 7%, primarily due to positive net pricing, including pricing actions for Turkish lira devaluation, partially offset by negative FX translation effects, mainly from Turkish lira | |||||||||||||||||||||||||||||
Combined shipments (000s) | 89 | 100 | (11) | |||||||||||||||||||||||||||||
Consolidated shipments (000s) | 67 | 70 | (3) | |||||||||||||||||||||||||||||
Net revenues (€ million) | 1,397 | 1,311 | +86 |
SOUTH AMERICA | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Shipments down 8%, with higher volumes of all-new Fiat Pulse, mid-cycle refresh of Jeep Compass, as well as Peugeot 208 and Fiat Cronos, more than offset by impact of significantly increased unfilled semiconductor orders in Q1 2022 •Net revenues up 40%, mainly due to higher net pricing, favorable vehicle and market mix and positive FX translation effects, primarily for Brazilian real, partially offset by lower volumes | |||||||||||||||||||||||||||||
Shipments (000s) | 174 | 189 | (15) | |||||||||||||||||||||||||||||
Net revenues (€ million) | 2,947 | 2,101 | +846 |
CHINA AND INDIA & ASIA PACIFIC | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Consolidated shipments down 7%, with increased volumes of Jeep Grand Cherokee and Peugeot 3008, more than offset by impact of unfilled semiconductor orders in Q1 2022 •Net revenues up 8%, mainly due to improved net pricing | |||||||||||||||||||||||||||||
Combined shipments (000s) | 51 | 50 | +1 | |||||||||||||||||||||||||||||
Consolidated shipments (000s) | 27 | 29 | (2) | |||||||||||||||||||||||||||||
Net revenues (€ million) | 934 | 865 | +69 |
MASERATI | ||||||||||||||||||||||||||||||||
Q1 2022 | Q1 2021 Pro Forma(1) | vs. Q1 2021 Pro Forma | •Shipments down 20%, primarily due to reduced Ghibli volumes, particularly in China, partially offset by demand for all-new MC20 •Net revenues down 5%, primarily due to lower volumes, partially offset by favorable vehicle mix | |||||||||||||||||||||||||||||
Shipments (000s) | 4.3 | 5.4 | (1.1) | |||||||||||||||||||||||||||||
Net revenues (€ million) | 419 | 442 | (23) |
Results from continuing operations | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | (€ million) | NORTH AMERICA | ENLARGED EUROPE | MIDDLE EAST & AFRICA | SOUTH AMERICA | CHINA AND INDIA & ASIA PACIFIC | MASERATI | OTHER(*) | STELLANTIS | ||||||||||||||||||||||||||||||||||||||||||||
Net revenues from external customers | 20,693 | 14,609 | 1,397 | 2,945 | 933 | 420 | 485 | 41,482 | |||||||||||||||||||||||||||||||||||||||||||||
Net revenues from transactions with other segments | — | 13 | — | 2 | 1 | (1) | (15) | — | |||||||||||||||||||||||||||||||||||||||||||||
Net revenues | 20,693 | 14,622 | 1,397 | 2,947 | 934 | 419 | 470 | 41,482 | |||||||||||||||||||||||||||||||||||||||||||||
Results from continuing operations | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | (€ million) | NORTH AMERICA | ENLARGED EUROPE | MIDDLE EAST & AFRICA | SOUTH AMERICA | CHINA AND INDIA & ASIA PACIFIC | MASERATI | OTHER(*) | STELLANTIS | ||||||||||||||||||||||||||||||||||||||||||||
Net revenues from external customers(A) | 13,892 | 15,658 | 1,275 | 1,912 | 811 | 420 | 331 | 34,299 | |||||||||||||||||||||||||||||||||||||||||||||
Add: FCA Net revenues from external customers, January 1 - 16, 2021(B) | 2,015 | 335 | 36 | 189 | 51 | 18 | 60 | 2,704 | |||||||||||||||||||||||||||||||||||||||||||||
Add: Pro Forma adjustments(C) | 3 | (7) | — | — | — | — | — | (4) | |||||||||||||||||||||||||||||||||||||||||||||
Pro Forma Net revenues from external customers, January 1 – March 31, 2021 | 15,910 | 15,986 | 1,311 | 2,101 | 862 | 438 | 391 | 36,999 | |||||||||||||||||||||||||||||||||||||||||||||
Net revenues from transactions with other segments | 6 | 43 | — | — | 3 | 4 | (56) | — | |||||||||||||||||||||||||||||||||||||||||||||
Pro Forma Net revenues(D) | 15,916 | 16,029 | 1,311 | 2,101 | 865 | 442 | 335 | 36,999 | |||||||||||||||||||||||||||||||||||||||||||||
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