The group’s turnover reached 72.6 billion euros.
The Stellantis group announced on Wednesday good results for the first half of the year, a year after the paralysis of the market linked to the health crisis, and despite the shortage of semiconductors which cut its sales of 700,000 vehicles.
The group born in early 2021 from the merger of PSA and Fiat-Chrysler recorded a net profit of 5.8 billion euros, against more than 800 million losses (pro forma) over the first six months of 2020. Its figure d business, at 72.6 billion euros, is almost four times larger than last year.
Synergies implemented quickly after the merger
“We had a very good semester in terms of margins and sales“, Welcomed the group’s chief financial officer, Richard Palmer, during a press conference. Stellantis recorded a margin equivalent to 11.4% of sales, “a record margin for the two original groups”, According to Richard Palmer.
The group notably recorded good results on the North American market, with good sales of its Ram pickups and hybrid Jeeps. In Europe, the group’s largest market, sales of Peugeot 2008 and its new Citroën C4, Opel Mokka and Fiat 500 electric drive sales, underlines the group. “Synergies between the two groups were implemented faster than expected», Underlined the chief financial officer, for a total of 1.3 billion euros in the first half-year, in particular on the costs of research and development.
Stellantis group now expects to achieve an operating margin of around 10% over the year 2021, while it was targeting between 5.5 and 7.5% at the start of the year. Such a hypothesis excludes possible new confinements, or a strengthening of the semiconductor crisis. This shortage of electronic parts, which has forced the group to put some factories on hiatus, should not “to get worse”, According to Richard Palmer. The third trimester should be “similarIn the second, with a loss of 500,000 vehicles, and the situation should then improve.