Carmaker Stellantis N.V. (STLA), formed with the 50/50 merger of Peugeot S.A. and Fiat Chrysler Automobiles N.V. that was closed on January 16, 2021, reported Wednesday the individual results of both companies for the year ended December 31, 2020.
FCA reported fiscal 2020 net profit at 24 million euros, down 99 percent from last year, while adjusted net profit was 1.86 billion euros. Adjusted EBIT was 3.7 billion euros, down 44 percent. Adjusted EBIT margin was 4.3 percent, down 190 basis points. Revenues fell 20 percent to 86.68 billion euros.
PSA reported fiscal 2020 net result group share at 2.17 billion euros, down from 3.20 billion euros last year. Earnings per share fell to 2.33 euros from 3.40 euros last year. Group adjusted operating margin reached 6.1 percent, down 2.4 percentage points versus 2019. Group revenue amounted to 60.73 billion euros, down 18.7 percent from last year.
Pursuant to Sept '20 Amendment to Combination Agreement, the Board has approved a 1.0 billion euros distribution to shareholders, subject to shareholder approval at the AGM on April 15, 2021.
The Board of Directors resolved to propose to the AGM the approval of a special cash distribution of 0.32 euro per common share.
Looking ahead for fiscal 2021, adjusted operating income margin is expected between 5.5 percent and 7.5 percent, assuming no significant COVID-19 related lockdowns.
For the year, the industry is expected to grow 8 percent in North America, 20 percent in South America, 10 percent in Europe, 3 percent each in Middle East & Africa, and India & Asia Pacific, as well as 5 percent in China.
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