Stellantis has reported its financial results for 2024, showing significant decreases across key metrics amid strategic shifts.
The automotive giant announced net revenues totaling €156.9 billion, which marks a sharp decline of 17% compared to 2023. Deliveries saw a 12% drop, attributed to temporary gaps within the product range and the completion of inventory reduction actions. The company recorded net income of €5.5 billion, reflecting a staggering 70% decrease year-on-year. Adjusted operating income of €8.6 billion also plummeted by 64%, resulting in a margin of 5.5%. Notably, the industrial cash flow was negatively impacted, amounting to €6 billion.
Despite these challenges, Stellantis has confirmed plans to distribute a dividend of €0.68 per common share for 2025, down from €1.55 the previous year. The total inventory as of December 31, 2024, decreased by 18%, corresponding to 268,000 units fewer than the previous year. This decline included a notable 20% drop in US dealer inventory, reaching 304,000 units, surpassing the earlier target of 330,000 units.
The company’s total available industrial liquidity stood at €49.5 billion, with a net industrial financial position of €15.1 billion. Stellantis highlighted the onset of the next generation of product portfolio with the launch of the first models built on the Stla Medium and Stla Large platforms, as well as the introduction of the Citroën C3/ë-C3, leveraging the Smart Car platform globally.
For 2025, Stellantis anticipates returning to profitable growth and positive cash generation. The company projects "positive" net revenue growth, aiming for single-digit operating income margins and positive industrial cash flow. They clarify this forecast reflects the initial phase of commercial recovery whilst also recognizing the heightened uncertainties prevalent in the automotive sector.
Stellantis has plans to launch ten new models over the coming year. The arrival of the new CEO is expected within the first half of 2025. The executive committee, during the transition period, has proactively taken decisive actions to boost company performance and profitability.
Actions taken include focusing on completing inventory management initiatives—exceeding US dealer inventory reduction goals; prioritizing key product launches to meet the ever-evolving customer needs, especially within the US market; leveraging flexibility available under CO2 regulations to mitigate risks; and enhancing communications with suppliers to facilitate collaboration and problem resolution.
John Elkann, chairman of Stellantis, remarked on the nuanced year faced by the company: "Despite 2024 being a year of stark contrasts for the company, with results below our potential, we achieved significant strategic milestones." Elkann noted achievements such as launching new multi-energy platforms and models, initiating electric vehicle battery production through joint ventures, and operationalizing partnerships with Leapmotor International.
He emphasized the commitment of Stellantis' talented workforce, stating they are working with energy and determination for the future, engaging key stakeholders and bringing decision-making closer to customer needs. Elkann affirmed, "We are firmly intent on gaining market share and improving financial performance throughout 2025."
Stellantis expects the 2025 dividend to be attached on Tuesday, April 22, 2025, with payments commencing on May 5. Based on Stellantis’ closing share price on February 25, 2025, at €13.49, the dividend yield stands at 5.04%. This dividend reflects the company’s intent to maintain shareholder returns even amid significant operational challenges.