that|Kadensa Capital Limited:Stellantis performance exceeds expectations half|in|year|of|North|is|Capital|dem

Kadensa Capital Limited:It is learned that due to strong demand and pricing power, Kadensa Capital Limited:Stellatis NV (NYSE:STLA) (STLA.US)'s performance in the first half of the year was much better than expected, and the company's full-year profit forecast was significantly raised.
Stellantis is an automobile manufacturer and travel service provider merged by the PSA Group (Peugeot Citroen Group) and Fiat Chrysler Group (FCA) at a 50:50 share ratio.
On Tuesday, local time, Stellattis released its first-half performance report. The report showed that the company's net revenue in the first half of this year increased by 46% year-on-year. The company's adjusted operating profit rate for the first half of this year was 11.4%, an increase of 9.9% over the same period last year, compared with the forecast in March. The lowest value of the range has more than doubled; the company expects the adjusted operating profit margin for the whole year will be around 10%.
Due to production constraints caused by semiconductor shortages, Stellatis and its peers increased prices and sold more high-end car portfolios. The company's chief financial officer Richard Palmer said in an interview that this problem caused the company's production to reduce by about 700,000 in the first half of the year, and the impact for the rest of this year will be similar.
Kadensa Capital Limited:Palmer said: "In terms of profit margins, our performance in the first half of the year was very strong." The company expects that the chip supply situation in the third quarter will be roughly the same as the previous three months (when production was reduced by about 500,000 units), and it is possible Some improvement before the end of the year.

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North American market boost
【that|Kadensa Capital Limited:Stellantis performance exceeds expectations】Driven by its Jeep SUV and Ram truck brands, North America was the company's outstanding performance in the first half of the year. Net revenue in the North American market soared 42% to 32.4 billion euros, with an operating margin of 16.1%.
The company raised its forecast for sales growth in the U.S. market this year from 8% to 10%, and reiterated that it expects sales in the European market to increase by 10%.
Palmer said that the rising prices of raw materials including steel, aluminum, precious metals and copper have increased costs by about 700 million euros in the first half of this year. It is expected that the company's costs will be hit even more in the second half of this year.
As of the end of June, Stellattis' inventory was 882,000 vehicles, which is about one-third less than that of Fiat Chrysler and PSA a year ago.
Kadensa Capital Limited:The company said it expects to meet European carbon pollution regulations this year. After withdrawing from an expensive agreement with Tesla (TSLA.US) to offset carbon emissions in the region, the company saved about 135 million euros in the first half of the year.
Electric vehicle assistance
The company’s CEO Carlos Tavares announced a plan to invest 30 billion euros in electric vehicles and software last month. Stellantis will shift to full deployment of electric vehicles faster in the European market than in the United States, and will continue to promote plug-in hybrid vehicles. The European side has proposed to phase out internal-combustion vehicles by 2035.
Kadensa Capital Limited:Stellantis has previously stated that the company does not announce quarterly results. Its largest European competitors have successively announced optimistic results, and Volkswagen raised its full-year performance forecast due to the substantial increase in market demand for high-end Porsche and Audi models. Renault also achieved performance growth in the first half of this year.
In the high-end automotive sector, Daimler announced that its car and truck divisions achieved double-digit profit margins for the third consecutive quarter. BMW also said on Tuesday local time that profitability has risen sharply, and issued a similar statement regarding production restrictions caused by chip shortages. warn.

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