Stellantis (STLAM) AGM 2026 summary

Opening remarks and agenda

• The meeting was held on April 14, 2026, covering full-year 2025 results, 2026 outlook, leadership transitions, and the need to refocus on customers amid operational and strategic challenges.

• The agenda and meeting procedures were outlined, including language options, voting instructions, and attendance statistics, with 64.16% of shares represented.

Financial performance review

• FY 2025 net revenues were €153.5B, down 2% year-over-year, with consolidated shipments up 1% to 5.5 million units.

• Adjusted operating income margin was -0.5%, with adjusted operating income at €(842)M, mainly due to €25.4B in unusual charges.

• Net loss for 2025 was €22.3B, compared to a €5.5B profit in 2024, with adjusted diluted EPS at €(0.42).

• Industrial free cash flow outflow was €4.5B, though improved by €1.5B year-over-year.

• 2026 guidance expects mid-single-digit net revenue growth, low single-digit AOI margin, and improved cash flow.

Financial performance review (regional)

• North America: Sales up 4% y-o-y in H2 2025, market share gains, and strong truck/SUV performance.

• Enlarged Europe: Maintained #2 market share, with strong B-segment and LCV positions.

• South America: Maintained market leadership, with new product launches and local Leapmotor production.

• Middle East & Africa: Market share up 0.7ppt, shipments up 9%.

• China & IAP: Shipments up 14% y-o-y, expanding Leapmotor portfolio.