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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