Stellantis N.V. said on Thursday that its net revenues in the first half of 2024 amounted to €85 billion, marking a 14% drop compared to the same period a year earlier.
IFRS net profit plummeted year on year to €4.9 billion, while adjusted operating income slid 40% to €8.5 billion. Diluted earnings per share (EPS) plunged 46% to €1.86.
"The Company's performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues. While corrective actions were needed and are being taken to address these issues, we also have initiated an exciting product blitz, with no fewer than 20 new vehicles launching this year, and with that brings bigger opportunities when we execute well," CEO Carlos Tavares stated.
