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Stellantis Records $7 Billion Net Profit During First Half Of 2021:

Supply Shortages Cost The Production Of 700,000 Units During First Half...

Stellantis reported its results for the first half of 2021 on Tuesday, saying that the newly formed automaker recorded a €5.9 billion ($7 billion) net profit despite a massive reduction of units due to the ongoing semiconductor shortage. Compared to a combined loss of €813 million ($964.6 million) that both former identities of the company showed during the same time.

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Being the birth child from the merger between Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (PSA), Stellantis is now the fourth-largest automaker globally by volume.

Net revenues for the first half of 2021 were €75.3 billion ($89.4 billion), compared to €51.7 billion ($61.4 billion) during the same period a year ago, up 46%. 

“We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,’’ Chief Financial Officer, Richard Palmer told the media.

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The news of the profits was a bit of a shock to some industry investors, as the company suffered from several interruptions in the supply chain so far this year – the biggest being semiconductor chips. Semiconductors are the backbone of today’s automotive industry, controlling electronic features like driver-assist technologies, hybrid-electric systems, and even infotainment connectivity.

Stellantis said it produced 700,000 fewer cars so far in 2021 when compared to the same time last year. The shortages affected the production of about 200,000 units in Q1 and another 500,000 in Q2. The lower production caused an industrial free cash flow loss of €1.2 billion ($1.4 billion).

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Of the €5.9 billion ($7 billion) recorded, the company achieved approximately €1.3 billion ($1.54 million) in cost savings during the first half of 2021. This was in part by both former identities sharing investments in architectures and technologies. The company expects that it will achieve 80% of its targeted €5 billion ($5.93 billion) in cost savings goal by 2024.

“These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Mr. Palmer said.

For the North American market, Stellantis reported net revenues of €32.5 billion ($38.6 billion) for the first half of 2021. That is up from €22.8 billion ($27.1 billion), with an adjusted operating income of €5.2 billion ($6.2 billion), and an adjusted operating income margin of more than 16%. Stellantis says that it sold 873,000 vehicles in North America, a 25% increase over the same period of time last year.

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According to the recent EV Day 2021 presentation, Stellantis has plans to launch 21 electrified products over the next two years. Those products will come in the form of 10 battery-electric (BEV) vehicles, 1 BEV and plug-in electric (PHEV) vehicle, and 9 PHEV vehicles.

“I would like to thank warmly all Stellantis employees for their outstanding focus on operational excellence and synergies execution that have led the Company to achieve very strong H1 financial results. While delivering this strong operational performance the Company also made significant progress on strategic matters related to electrification acceleration and software, which are fundamental pillars of our strategy.” – Carlos Tavares, Stellantis CEO

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You can watch the full recorded webcast of the “First Half 2021 Results”, at the following link. (CLICK HERE).

Those who want to see the presentation via .PDF file, can check the following link. (CLICK HERE).

Robert S. Miller

Robert S. Miller is a diehard Mopar enthusiast who lives and breathes all that is Mopar. The Michigander is not only a Co-Editor for MoparInsiders.com, 5thGenRams.com, and HDRams.com but an automotive photographer. He is an avid fan of offshore powerboat racing, which he travels the country to take part in.

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The man took a ruined company. A company that was hours away from being divided up in parts to 3 different companies. 2 of it original brands killed and assets auctioned. The New York private equity people do what they do, after the former owner picked it bones in a failed attempt to buy Mitsubishi automotive.

Product was stale and interiors the laugh of the industry. Mitsubishi platforms hobbled together with incompatible Catia versions, suspect quality.......

And turned in a historically short time to the envy of the Industry.

Yet you will still find those who think he ruined it..... By saving it apparently.

Reply 9 Likes

Got to laugh at Auto news put this as their 5th story behind freaking Subaru….. they never put GM Earnings as 5th story behind Mazda( for example)in fact they would make 5 different pieces base on the same earnings if GM number where as good.

Reply 3 Likes

The man took a ruined company. A company that was hours away from being divided up in parts to 3 different companies. 2 of it original brands killed and assets auctioned. The New York private equity people do what they do, after the former owner picked it bones in a failed attempt to buy Mitsubishi automotive.

Product was stale and interiors the laugh of the industry. Mitsubishi platforms hobbled together with incompatible Catia versions, suspect quality.......

And turned in a historically short time to the envy of the Industry.

Yet you will still find those who think he ruined it..... By saving it apparently.

Exactly.

Reply 2 Likes

Like I have stated multiple of times( We Might Be Seeing Jeep® Grand Wagoneers Heading To Dealers Next Week!)

In bold
Well oh Well

View attachment 4975

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Sergio is right again😎(y).

PSA.. ehm Stellantis is differently calculating margin than FCA.

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Ford North America Q1:$23 billion of revenue with EBIT Margin of 12.8%
EBIT of $2,949 billion
Ford North America Q2 : $15 billion of revenue with EBIT Margin of 1.3%
EBIT of $194 million

Q1 Ford:https://media.ford.com/content/dam/fordmedia/North America/US/2021/04/28/2021-ford-1q.pdf
Q2 Ford :https://media.ford.com/content/dam/fordmedia/North America/US/2021/07/28/2q-2021-ford-financials.pdf

Stellantis North America 6 months 2021 (Q1+Q2 2021 ): Revenue of $38.450 U$D Billion with (to repeat) operating margin of 16.1% .
Operating profit of $6,212 U$D Billion

Just insane good for Mopar.

Reply 3 Likes

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