Stellantis Posts 12% Revenue Growth In 1H Aided By Higher Shipments
Portfolio Pulse from Shivani Kumaresan
Stellantis NV reported a 12% YoY revenue growth in 1H FY23 to €98.4 billion, driven by higher shipments. Revenue in North America, Enlarged Europe, and Middle East & Africa rose by 8%, 11%, and 55% respectively. Global BEV sales increased 24% YoY to 169,000 vehicles. The company's net profit for 1H FY23 increased 37% to €10.9 billion. Stellantis repurchased €0.7 billion in shares in 1H 2023 and plans to complete the €1.5 billion share buyback program by the end of 2023. STLA shares are trading higher by 2.38% at $18.95 in premarket.
July 26, 2023 | 10:09 am
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Stellantis reported strong 1H FY23 results with a 12% YoY revenue growth and a 37% increase in net profit. The company also repurchased €0.7 billion in shares in 1H 2023 and plans to complete the €1.5 billion share buyback program by the end of 2023. This positive financial performance is reflected in the premarket trading where STLA shares are up by 2.38%.
Stellantis' strong financial performance in 1H FY23, including a 12% YoY revenue growth and a 37% increase in net profit, indicates a positive outlook for the company. The ongoing share buyback program also demonstrates the company's confidence in its stock, which is likely to instill confidence in investors and potentially drive the stock price up in the short term. This is already reflected in the premarket trading where STLA shares are up by 2.38%.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100