Stellantis (STLAM) Q4 2024 earnings summary

Executive summary

• Net revenues declined 17% year-over-year to €156.9 billion, driven by lower shipments, adverse mix, and FX headwinds, especially in North America and Europe.

• Net profit dropped 70% to €5.5 billion, and adjusted diluted EPS fell 61% to €2.48.

• Industrial free cash flow was negative €6 billion, mainly due to lower profitability and inventory reduction actions.

• Product launches in key regions and empowerment of local teams were prioritized to drive customer focus and execution.

• Dividend of €0.68 per share proposed, representing 30% of 2024 net profit.

Financial highlights

• Combined shipments fell 14% year-over-year to 5.5 million units; consolidated shipments down 12%.

• Adjusted operating income declined 64% to €8.6 billion, with a margin of 5.5%.

• Cash flows from operating activities fell 82% to €4.0 billion.

• Industrial net financial position at year-end was €15.1 billion, down from €29.5 billion.

• Total industrial available liquidity at year-end was €49.5 billion, representing 32% of prior 12-month net revenues.

Outlook and guidance

• 2025 guidance projects positive net revenue growth, mid-single digit AOI margin, and positive industrial free cash flows, especially in the second half.

• Ten new product launches planned for 2025, with continued rollout of new multi-energy platforms.

• Guidance assumes current tariff and trade rules remain unchanged.