A record year for Stellar: i financial results for 2022 they exceeded expectations – and the company decided to reward employees with 2 billion euros. With a net profit of 16.8 billion euros and an adjusted operating profit of 23.3 billion euros, the plan Dare Forward 2030 continues. And it demonstrates the effectiveness of the electrification strategy.
Stellantis, record 2022 financial results
In 2022 Stellantis reported revenues of 179.6 billion euros, growing by +18% compared to the previous year. The favorable net prices and model mix had a positive impact on sales, in addition to the positive conversion rates.
This resulted in a net profit of 16.8 billion euros, growing by +26%. The margin is also worth 13%, one point above the 2030 target of exceeding 12%. This leads to having a net cash flow of 10.8 billion euros (+78%) and have very solid assets, with liquidity from 61.3 billion euros.
Carlos Tavares, CEO of Stellantis, comments: “In addition to our record financial results and the focused implementation of the Dare Forward 2030 plan, we have also demonstrated the effectiveness of our electrification strategy in Europe. We now have the technology, products, raw materials, and entire battery ecosystem to lead the same transformational journey in North America, starting with our first all-electric vehicles Ram by 2023 and Jeep by 2024. I would like to express my deepest thanks to all employees and our partners for their contribution to creating a more sustainable future”.
The importance of electricity
Stellantis with these financial results is already fulfilling the commitments of the Dare Forward 2030 plan, launched last March. This is based on three pillars: Ethics, Technology and Value.
All three of these pillars touch on the issue electrification. The group wants to have zero carbon emissions by 2038, cutting them in half by 2030 compared to 2021. The company has already reduced industrial and real estate emissions, but electrification will play a key role. Even in getting these kinds of results.
In fact in 2022 Stellantis sold 288 thousand battery electric vehicles (BEV), an increase of +41% compared to the previous year. The company has 23 BEV models and by 2024 aims to double that to 47 models. To then get to produce 5 million vehicles in 75 different models by 2030.
The Jeep brand had its first electric SUV with the Jeep Avenger, elected Car of the Year 2023. And the RAM brand follows in the footsteps with RAM 1500 REV fully electric, which will arrive at the end of 2024. Then there is Fiat 500Ethe best-selling electric car in Italy, while Pegaot e-208 dominates in France.
A two billion bonus to employees
Stellantis after these 2022 financial results spoke of the dividends of 4.2 billion (1.34 euro per share) for investors, as well as the possibility of repurchasing shares. But these record-breaking sales wouldn’t be possible without quality employees: think he’s hired more than 1,500 engineers only in the software area.
This is why it has decided to give a record production bonus of 2 billion euros, which is 200 million more than the previous year. CEO Tavares explains that this serves to reward merit. “Thanks to the record results obtained by Stellantis in 2022, we will distribute to our employees worldwide more than 2 billion euros in profit sharing and variable bonuses. This is 200 million more than last year and is a fair recognition of the contribution of all employees Of
Stellantis to the growth of Stellantis in a very challenging economic context. When the company does well, all employees do well: this is the foundation of our culture of payment for performance”.
In Italy, the overall average premium is worth 1,879 euros, which employees with the Specific Collective Labor Agreement (CCSL) will receive in two rounds, in February and April. The figure includes both the 2019-2022 plant efficiency bonus and the extra donation announced by Tavares. In particular, employees will receive a bonus of +6% of their ordinary salary (1429 euros on average) and an extraordinary bonus of 450 euros gross, equal to 2%.
The automotive group’s results testify to the effectiveness of the transition to electric for the market, and it has given an extra production bonus to employees – which is always welcome. The road to 2030 remains ambitious, especially with the economic uncertainties in the near future. But Stellantis seems to have taken a decidedly quick step.