Stellantis Warns on Chip Shortage in 2Q After 1Q Revenue Grows
May 05 2021 - 3:10AM
Dow Jones News
By Kim Richters
Stellantis NV on Wednesday said that the impact from the chip
shortage will be worse in the second quarter than in the first
three months of the year, when it posted higher year-on-year
revenue on pro-forma basis.
The auto maker, created through the merger of Fiat Chrysler
Automobiles NV and Peugeot SA early this year, said net revenue was
34.3 billion euros ($41.21 billion) for the first quarter. Revenue
on a pro-forma basis, which provides comparable figures for on-year
comparison, rose to EUR37.0 billion from EUR32.4 billion.
While shipments in the quarter benefited from strong consumer
demand and retail mix, the semiconductor shortage led to a
production loss of around 190,000 vehicles in the period.
Visibility for the effects of the shortage in its first year as
a combined auto maker was limited, it said, but the company expects
the second quarter to be hit worse than the first, before some
improvement in the second half of the year.
Stellantis confirmed its forecast for an adjusted operating
income margin of between 5.5% and 7.5% for 2021, which relates to
operating income adjusted for items like restructuring. This
assumes no relevant lockdowns related to the coronavirus
pandemic.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
May 05, 2021 02:55 ET (06:55 GMT)
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