(News Bulletin 247) – Stellantis rose on the stock market this Wednesday following the presentation of ‘record’ results for the 2022 financial year and the announcement of a share buyback program of 1.5 billion euros.
The automotive group announced this morning that it has generated current operating income of 23.3 billion euros, up 29%, over the past year, with a margin of 13% above its target of 12% planned for 2030.
Its net sales reached 179.6 billion euros, an increase of 18%, thanks to a solid price dynamic, a favorable vehicle mix and positive exchange rate effects.
Net profit is up 26% to 16.8 billion euros.
Referring to its significant cash flow generation as well as a solid balance sheet, the manufacturer says it has approved the launch of a share buyback program for a maximum amount of 1.5 billion euros to be completed by at the end of the year.
In its press release, Stellantis also says it is “on track” to achieve the commitments of its strategic plan “Dare Forward 2030”, launched in March 2022, which aims to double turnover by 2030 (compared to to 2021), for a double-digit trading operating profit margin throughout the decade.
The group has planned to distribute a record two billion euros this year in recognition of the performance of its employees in respect of the “exemplary” financial results achieved in 2022.
This publication was welcomed by investors on Wednesday morning at the Paris Stock Exchange, where the action rose 2.2% in a sluggish Parisian market (-0.6%).
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