Stellantis Guides for Income Margin of Between 5.5% and 7.5% for 2021
By Kim Richters
Stellantis NV said Wednesday that it expects an adjusted
operating income margin of between 5.5% and 7.5% for 2021, its
first year as a newly combined auto maker.
Stellantis, which was created through the merger of Fiat
Chrysler Automobiles NV and Peugeot SA, said the target, which
relates to operating income adjusted for items like restructuring,
assumed no significant lockdowns amid the coronavirus pandemic.
The board also approved a previously announced 1 billion euros
($1.21 billion) distribution to shareholders, which it will propose
at the annual general meeting on April 15.
For 2020 before the car makers merged, Fiat Chrysler posted
revenue of EUR86.68 billion, down from EUR108.19 billion a year
earlier. Aftertax profit fell to EUR24 million from EUR6.63 billion
when it took a gain from its Magneti Marelli sale.
Peugeot's full-year revenue came in at EUR60.73 billion, down
from EUR74.73 billion, while net profit for 2020 declined to
EUR2.17 billion from EUR3.20 billion.
Write to Kim Richters at email@example.com
(END) Dow Jones Newswires
March 03, 2021 03:28 ET (08:28 GMT)
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