This is a 26% increase in net profit over one year, the automotive group announced on Wednesday, born in 2021 from the merger of PSA and Fiat-Chrysler (Peugeot, Citroën, Fiat, Opel, Dodge, Jeep, Lancia, Maserati, Alfa Romeo, Chrysler).

Only hydrocarbon giant TotalEnergies has done better in the CAC 40 so far for 2022, with a net profit of $20.5 billion.

The profit of Stellantis is even higher than that of the world leader in luxury LVMH (14.1 billion euros).

The group with fourteen brands recorded a net increase in turnover (+18%) to 179.6 billion euros, price increases largely offsetting a drop in the number of vehicles sold in Europe.

Stellantis has however recorded a sharp decline in sales in its largest market, Europe, to 2.6 million units (-8%).

This decline affected most of its brands, with sales of the Peugeot 308, Fiat Panda and Citroën C5 X not compensating for the logistics problems.

But the group was able to maintain its margins, in particular with price increases and new electric and hybrid models sold at a higher price.

On the North American market Stellantis progressed with 1.8 million vehicles sold (+2%) and a turnover of 85 billion euros (+23%).

The group's "third engine", the other regions of the world, also saw its turnover increase by 34% over the year, and its operating margin double to 3.8 billion euros.

The group sold 288,000 electric vehicles in 2022, an increase of 41%.

It is hot on the heels of Tesla in electric sales in Europe and intends to multiply launches in the coming months.

“We now have the technology, products, raw materials and complete battery ecosystem to drive this same transformation in North America, with our first all-electric Ram vehicles in 2023 and Jeep in 2024,” Group CEO Carlos Tavares said in a statement.

Thanks to the record figures for 2022, Stellantis can spoil its shareholders and distribute 4.2 billion euros in dividends.

Two billion euros will also be donated to its 264,000 employees around the world.

For 2023, the group expects automotive markets to rebound slightly (+5% in Europe and North America).

© 2023 AFP