Stellantis ( (IT:STLAM) ) has issued an update.
Stellantis reported its full-year 2024 financial results, revealing a 17% decline in net revenues to €156.9 billion and a 70% drop in net profit to €5.5 billion, primarily due to temporary product offering gaps and inventory reduction initiatives. Despite these challenges, Stellantis achieved strategic milestones, such as launching new multi-energy platforms and products, and it anticipates a return to profitable growth and positive cash generation in 2025. The company is also in the process of appointing a new permanent CEO, with interim leadership focusing on improving performance and profitability through decisive actions, including inventory management and prioritizing critical launches.
More about Stellantis
Stellantis N.V. is a multinational automotive manufacturer headquartered in the Netherlands. The company is known for producing a wide range of vehicles, including internal combustion, hybrid, and electric powertrains. Stellantis focuses on global markets with a strong presence in Europe and the United States, and it is actively transitioning to next-generation multi-energy platforms.
YTD Price Performance: 9.78%
Average Trading Volume: 9,783,886
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $42.06B
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