Stellantis FY23 Profit Rises, Lifts Dividend; Plans EUR 3 Bln Share Buyback

(RTTNews) - Automotive major Stellantis N.V. (STLA) reported Thursday higher profit and revenues in its fiscal 2023.

Further, Stellantis is proposing to pay a dividend of 1.55 euros per share, an increase of approximately 16 percent compared to the prior year. The record date is April 23 and payment date is May 3.

Stellantis will also execute a 2024 open-market share buyback program of 3.0 billion euros, which includes 0.5 billion euros of shares repurchased to service share-based compensation and employee share purchase, in 2024.

Looking ahead for fiscal 2024, the Company is reiterating a minimum commitment of double-digit adjusted operating income margin, as well as positive industrial free cash flow, despite macroeconomic uncertainties.

Building on 2023 momentum, the company projects a supportive revenue backdrop in 2024, including reduced supply and logistical constraints.

For fiscal 2023, net profit grew 11 percent to 18.63 billion euros from last year's 16.78 billion euros.

Adjusted operating income edged up 1 percent to 24.34 billion euros from 24.02 billion euros last year. Adjusted operating income margin, meanwhile, dropped 60 basis points to 12.8 percent.

Net revenues were 189.54 billion euros, up from last year's 179.59 billion euros, with consolidated shipment volumes increasing 7 percent.

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