Amsterdam-based automotive firm Stellantis has posted a 26% increase in its 2022 net profit to touch $17.9 billion (€16.8 billion), the company said in its full-year results released Wednesday, amid a boost in electrification, software development, and vertical integration.
Stellantis’ net revenues increased by 18% year-on-year in 2022, reaching $191.3 billion (€179.6 billion), the statement said. Adjusted operating income rose to $24.8 billion (€23.3 billion) with a 13% margin, marking an increase of 29% from 2021. Industrial cash flows increased by 78% to reach $11.4 billion (€10.8 billion) in 2022, with the company aiming to almost double the figure to $21.3 billion (€20 billion) by 2030.
The increase in profits demonstrates fast progress on the Dare Forward 2030 Strategic Plan, Stellantis added.
Launched in March 2020, the plan seeks to achieve carbon net zero by 2038 by cutting carbon emissions to half by 2030 and adopting sustainable practices via Circular Economy Business Unit while doubling net revenues by 2030 (versus 2021) and sustaining double-digit adjusted operating income across the decade.
41%. This is how much Stellantis’ sales of battery electric vehicles (BEVs) surged in 2022, with 288,000 units sold.
“We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep® from 2024,” Carlos Tavares, CEO of Stellantis, said in a statement Wednesday.
