Stellantis Reports Q1 2024 Net Revenues and Shipments Reflecting New Product Transition

Stellantis Reports Q1 2024 Net Revenues and Shipments
Reflecting New Product Transition

• Net revenues of €41.7 billion, down 12% compared to Q1 2023 primarily due to volume, mix and foreign exchange headwinds, partly offset by firm net pricing
• Consolidated shipments⁽¹⁾ of 1,335 thousand units, down 10%, reflecting production actions and inventory management to prepare for new product wave in H2 2024 compared with strong shipments in Q1 2023 to build inventory following a prolonged period of supply constraints
• Total new vehicle inventory of 1,393 thousand units (Company inventory of 423 thousand units) at March 31, 2024, reflecting improving level and structure versus December 2023
• Global BEV and LEV sales increased by 8% and 13%, respectively, versus Q1 2023; ongoing global focus with new BEVs launching throughout 2024
• Ordinary dividend of €1.55 per share (16% increase versus prior year) approved at AGM to be paid to shareholders on May 3, 2024
• €3.0 billion share buyback on track for 2024 completion

"While Q1 2024 year-over-year shipments and Net revenues comparisons were difficult due to transitions in our next generation product portfolio manufactured on new platforms, we are delivering clear improvements in key commercial dynamics with customer sales outpacing shipments. We are reducing inventories to reinforce our strong relative pricing ahead of our new or mid-cycle product launches this year in key regions. During Q1 2024, we have introduced four new models out of our full-year launch plan of 25 models, including 18 BEV nameplates, which we believe sets the stage for materially improved growth and profitability in the second half of the year."   Natalie Knight, CFO

Alfa Romeo Junior

RESULTS FROM CONTINUING OPERATIONS								FY 2024 GUIDANCE - CONFIRMED   Revenue backdrop: Supportive AOI Margin(2): Double digit minimum commitment Industrial Free Cash Flows(3): Positive
		Q1 2024		Q1 2023		Change
Combined shipments (000 units)		1,371		1,538		(11)%
Consolidated shipments (000 units)		1,335		1,476		(10)%
Net revenues (€ billion)		41.7		47.2		(12)%

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