Date: July 31, 2023 | STELLANTIS N.V. | ||||||||||
By: | /s/ Natalie Knight | ||||||||||
Name: Natalie Knight | |||||||||||
Title: Chief Financial Officer |
For the six months ended June 30, 2023 | For the six months ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||
(€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
Net revenues | 98,368 | 97,993 | 426 | 87,999 | 87,751 | 326 | ||||||||||||||||||||||||||||||||
Cost of revenues | 76,934 | 76,669 | 316 | 69,865 | 69,757 | 186 | ||||||||||||||||||||||||||||||||
Selling, general and other costs | 4,921 | 4,744 | 177 | 4,460 | 4,404 | 56 | ||||||||||||||||||||||||||||||||
Research and development costs | 2,735 | 2,735 | — | 2,547 | 2,547 | — | ||||||||||||||||||||||||||||||||
Gains/(losses) on disposal of investments | 22 | 74 | (52) | 31 | 31 | — | ||||||||||||||||||||||||||||||||
Restructuring costs | 552 | 552 | — | 838 | 838 | — | ||||||||||||||||||||||||||||||||
Share of the profit/(loss) of equity method investees | 293 | 36 | 257 | 56 | (285) | 341 | ||||||||||||||||||||||||||||||||
Operating income/(loss)(1) | 13,541 | 13,403 | 138 | 10,376 | 9,951 | 425 | ||||||||||||||||||||||||||||||||
Net financial expenses/(income) | (69) | (69) | — | 431 | 431 | — | ||||||||||||||||||||||||||||||||
Profit/(loss) before taxes | 13,610 | 13,472 | 138 | 9,945 | 9,520 | 425 | ||||||||||||||||||||||||||||||||
Tax expense/(benefit) | 2,692 | 2,698 | (6) | 1,985 | 1,970 | 15 | ||||||||||||||||||||||||||||||||
Result from intersegment investments | — | 144 | — | — | 410 | — | ||||||||||||||||||||||||||||||||
Net profit/(loss) | 10,918 | 10,918 | 144 | 7,960 | 7,960 | 410 | ||||||||||||||||||||||||||||||||
Adjusted operating income(1)(2) | 14,126 | 13,848 | 278 | 12,727 | 12,304 | 423 | ||||||||||||||||||||||||||||||||
At June 30, 2023 | At December 31, 2022 | |||||||||||||||||||||||||||||||||||||
(€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||
Goodwill and intangible assets with indefinite useful lives | 31,361 | 31,236 | 125 | 31,738 | 31,611 | 127 | ||||||||||||||||||||||||||||||||
Other intangible assets | 19,731 | 19,580 | 151 | 19,006 | 18,861 | 145 | ||||||||||||||||||||||||||||||||
Property, plant and equipment | 36,193 | 35,721 | 472 | 36,205 | 36,129 | 76 | ||||||||||||||||||||||||||||||||
Equity method investments | 5,166 | 8,224 | 3,349 | 4,834 | 7,244 | 3,182 | ||||||||||||||||||||||||||||||||
Deferred tax assets | 2,016 | 1,979 | 37 | 2,052 | 2,040 | 12 | ||||||||||||||||||||||||||||||||
Inventories | 19,289 | 19,242 | 47 | 17,360 | 17,303 | 57 | ||||||||||||||||||||||||||||||||
Assets sold with a buy-back commitment | 2,123 | 2,123 | — | 1,594 | 1,594 | — | ||||||||||||||||||||||||||||||||
Trade receivables | 8,594 | 8,660 | 215 | 4,928 | 5,004 | 70 | ||||||||||||||||||||||||||||||||
Tax receivables | 409 | 397 | 19 | 655 | 650 | 41 | ||||||||||||||||||||||||||||||||
Other assets and prepaid expenses | 17,091 | 13,081 | 7,079 | 14,272 | 10,673 | 4,884 | ||||||||||||||||||||||||||||||||
Financial assets | 7,500 | 5,948 | 1,592 | 5,033 | 4,696 | 304 | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | 48,978 | 47,742 | 1,236 | 46,433 | 45,335 | 1,098 | ||||||||||||||||||||||||||||||||
Assets held for sale | 122 | 122 | — | 2,046 | 2,042 | 1,700 | ||||||||||||||||||||||||||||||||
TOTAL ASSETS | 198,573 | 194,055 | 14,322 | 186,156 | 183,182 | 11,696 | ||||||||||||||||||||||||||||||||
Equity and Liabilities | ||||||||||||||||||||||||||||||||||||||
Equity | 77,064 | 77,064 | 6,407 | 72,382 | 72,382 | 7,222 | ||||||||||||||||||||||||||||||||
Employee benefits liabilities | 6,168 | 6,167 | 1 | 6,436 | 6,434 | 2 | ||||||||||||||||||||||||||||||||
Provisions | 20,391 | 20,314 | 81 | 19,771 | 19,641 | 135 | ||||||||||||||||||||||||||||||||
Deferred tax liabilities | 4,424 | 4,251 | 173 | 4,332 | 4,320 | 12 | ||||||||||||||||||||||||||||||||
Debt | 29,467 | 25,247 | 7,169 | 27,153 | 24,496 | 3,972 | ||||||||||||||||||||||||||||||||
Trade payables | 34,696 | 34,725 | 173 | 31,726 | 31,735 | 95 | ||||||||||||||||||||||||||||||||
Other financial liabilities | 15 | 2 | 13 | 18 | 18 | — | ||||||||||||||||||||||||||||||||
Tax liabilities | 1,293 | 1,263 | 37 | 1,568 | 1,546 | 29 | ||||||||||||||||||||||||||||||||
Other liabilities | 25,055 | 25,022 | 268 | 22,657 | 22,497 | 229 | ||||||||||||||||||||||||||||||||
Liabilities held for sale | — | — | — | 113 | 113 | — | ||||||||||||||||||||||||||||||||
TOTAL EQUITY AND LIABILITIES | 198,573 | 194,055 | 14,322 | 186,156 | 183,182 | 11,696 |
For the six months ended June 30, 2023 | For the six months ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||
(€ million) | Stellantis | Industrial activities | Financial services | Stellantis | Industrial activities | Financial services | ||||||||||||||||||||||||||||||||
Consolidated profit | 10,918 | 10,918 | 144 | 7,960 | 7,960 | 410 | ||||||||||||||||||||||||||||||||
Adjustments for non-cash items: | ||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 3,740 | 3,727 | 13 | 3,225 | 3,213 | 12 | ||||||||||||||||||||||||||||||||
(gains)/losses on disposals | (45) | (30) | 52 | 7 | 4 | 3 | ||||||||||||||||||||||||||||||||
change in deferred taxes | 369 | 234 | 135 | (142) | (140) | (2) | ||||||||||||||||||||||||||||||||
other non-cash items | 252 | 174 | 78 | 185 | 155 | 30 | ||||||||||||||||||||||||||||||||
Change in provisions | 1,134 | 1,124 | 10 | 1,400 | 1,382 | 18 | ||||||||||||||||||||||||||||||||
Result of equity method investments net of dividends received | (46) | (172) | (85) | 84 | (50) | (276) | ||||||||||||||||||||||||||||||||
Change in carrying amount of leased vehicles | (173) | 217 | (390) | (75) | (48) | (27) | ||||||||||||||||||||||||||||||||
Changes in working capital | (2,756) | (2,588) | (168) | (2,801) | (2,762) | (39) | ||||||||||||||||||||||||||||||||
Net cash from/(used in) operating activities | 13,393 | 13,604 | (211) | 9,843 | 9,714 | 129 | ||||||||||||||||||||||||||||||||
Proceeds from disposal of shares in consolidated companies and of investments in non-consolidated companies(1) | 994 | 1,717 | 183 | 107 | 107 | — | ||||||||||||||||||||||||||||||||
Acquisitions of consolidated subsidiaries and equity method and other investments(2) | (662) | (1,058) | (1,067) | (194) | (293) | — | ||||||||||||||||||||||||||||||||
Proceeds from disposals of property, plant and equipment and intangible assets | 133 | 131 | 2 | 74 | 73 | 1 | ||||||||||||||||||||||||||||||||
Investments in property, plant and equipment and intangible assets | (4,447) | (4,429) | (18) | (3,963) | (3,942) | (21) | ||||||||||||||||||||||||||||||||
Change in amounts payable on property, plant and equipment and intangible assets | 233 | 233 | — | (446) | (446) | — | ||||||||||||||||||||||||||||||||
Net change in receivables from financing activities | (2,079) | (54) | (2,025) | (319) | 37 | (354) | ||||||||||||||||||||||||||||||||
Other changes | (88) | (122) | 34 | 75 | 71 | 4 | ||||||||||||||||||||||||||||||||
Net cash from/(used in) investing activities | (5,916) | (3,582) | (2,891) | (4,666) | (4,393) | (370) | ||||||||||||||||||||||||||||||||
Distributions paid | (4,208) | (4,208) | — | (3,260) | (3,260) | (2) | ||||||||||||||||||||||||||||||||
Proceeds from issuance of shares | 6 | 6 | 557 | — | — | 99 | ||||||||||||||||||||||||||||||||
(Purchases)/sales of treasury shares | (674) | (674) | — | 1 | 1 | — | ||||||||||||||||||||||||||||||||
Changes in debt and other financial assets and liabilities | 842 | (2,043) | 2,885 | (6,643) | (6,787) | 160 | ||||||||||||||||||||||||||||||||
Change in securities | (455) | (258) | (197) | (212) | (231) | 20 | ||||||||||||||||||||||||||||||||
Other changes | (8) | (8) | — | 26 | 9 | — | ||||||||||||||||||||||||||||||||
Net cash from/(used in) financing activities | (4,497) | (7,185) | 3,245 | (10,088) | (10,268) | 277 | ||||||||||||||||||||||||||||||||
Effect of changes in exchange rates | (500) | (495) | (5) | 1,637 | 1,609 | 28 | ||||||||||||||||||||||||||||||||
(Increase)/decrease in cash and cash equivalents included in asset held for sale | 65 | 65 | — | — | — | — | ||||||||||||||||||||||||||||||||
Increase/(decrease) in cash and cash equivalents | 2,545 | 2,407 | 138 | (3,274) | (3,338) | 64 | ||||||||||||||||||||||||||||||||
Net cash and cash equivalents at beginning of period | 46,433 | 45,335 | 1,098 | 49,629 | 48,616 | 1,013 | ||||||||||||||||||||||||||||||||
NET CASH AND CASH EQUIVALENTS AT END OF PERIOD | 48,978 | 47,742 | 1,236 | 46,355 | 45,278 | 1,077 |
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end