(Reuters) – Stellantis on Wednesday reported better-than-expected second-half 2022 operating profit up 17%, citing strong net pricing momentum, favorable vehicle mix and positive currency effects despite ongoing problems with logistics and chip supply.
The world’s third-largest automaker’s adjusted operating profit by sales was 10.95 billion euros in the July-December period, while analysts polled by Reuters had expected 9.63 billion euros. .
Stellantis, which saw a 41% increase in global battery electric vehicle (BEV) sales year-over-year to 288,000 vehicles in 2022, also says it is aiming for a double-digit adjusted operating margin in 2023. .
“We now have the technology, products, raw materials and complete battery ecosystem to drive this same transformation in North America, with our first all-electric Ram vehicles in 2023 and Jeep in 2024,” said general manager Carlos Tavares in a statement.
Over the year, adjusted operating profit was up 29% to 23.32 billion euros, the group said.
Stellantis, born in January 2021 from the merger between PSA and FCA, also announced a dividend of 4.2 billion euros on the results of 2022, or 1.34 euros per share, and a share buyback program for a maximum value of €1.5 billion, to be executed by the end of 2023.
(Report Giulio Piovaccari, written by Diana Mandiá, edited by Kate Entringer)
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