Stellantis Lifts Operating Margin Target for 2021
August 03 2021 - 3:24AM
Dow Jones News
By Kim Richters
Stellantis NV on Tuesday raised its target for profitability for
the year after better revenue and profit in the first half.
The auto maker is now guiding for adjusted operating income
margin of around 10%, assuming no further deterioration of
semiconductor supply or additional major lockdowns in Europe and
the U.S. It previously expected 5.5% and 7.5% for 2021.
Stellantis was created through the merger of Fiat Chrysler
Automobiles NV and Peugeot-maker PSA Group and publishes results
also on a pro forma basis that combines both companies' results
before the deal closed.
On this basis, the adjusted operating income margin--which
relates to income adjusted for items like restructuring--was 11.4%
for the first six months of the year and group revenue rose to
75.31 billion euros ($89.42 billion) from EUR51.67 billion.
Aftertax profit was EUR5.94 billion compared with a prior-year loss
of EUR813 million.
Results refer to continuing operations, it said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
August 03, 2021 03:11 ET (07:11 GMT)
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