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Stellantis raises adjusted operating margin 2021 target to around 10%

Kim Richters

 

On Tuesday, Stellantis NV raised its profitability target this year after improving earnings and profits in the first half.

Automakers are currently leading adjusted operating margins of around 10%, assuming there are no further deterioration in semiconductor supply or additional major blockages in Europe and the United States. Previously, we expected 5.5% and 7.5% in 2021.

Stellantis is also published on a proforma basis, created by the merger of Fiat Chrysler Automobiles NV and Peugeot maker PSA Group, combining the results of both companies before the deal was closed.

Based on this, adjusted operating margin related to revenue adjusted for items such as restructuring was 11.4% in the first half of this year, with group revenue increasing from € 51.67 billion to € 75.31 billion ($ 89.42 billion). Did. .. Profit after tax was € 5.94 billion, compared with a loss of € 815 million in the year-ago quarter.

The results refer to ongoing business, it said.

 

Write to Kim Richters at kim.richters@wsj.com

Stellantis raises adjusted operating margin 2021 target to around 10%

Source link Stellantis raises adjusted operating margin 2021 target to around 10%

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