Stellantis, net loss of EUR 2.3 billion in H1. First effects of US tariffs: EUR -300 million
Preliminary figures for the period, published by the company - Deliveries down 6% in the period, USA and Europe suffer
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(Il Sole 24 Ore Radiocor) In the first half Stellantis reported revenues of EUR 74.3 billion and a net loss of EUR 2.3 billion. This is according to preliminary figures for the period, published by the company, which also reported that adjusted operating profit was EUR 0.5 billion, cash flow from industrial operations negative EUR 2.3 billion and industrial free cash flow negative EUR 3 billion. Delivery performance was also negative, down 6%. Indicators that are pushing the stock on the stock exchange into negative ground.
Stellantis reported that 'in the absence of financial guidance, which was suspended by the company on 30 April, financial analysts' forecasts are currently the main parameter for market expectations. The purpose of disclosing the following preliminary financial data for the first half of 2025 is to close the gap between analysts' forecasts and the company's performance for the period'.
Tariffs effect
Stellantis pointed to several factors that had a 'significant impact' on first-half results, including the early effects of tariffs imposed by the US. In particular, there were negative impacts on Aoi (adjusted operating income) from higher industrial costs, geographic and other mix, and changes in exchange rateso. And a EUR -0.3 billion effect of net tariffs incurred and the loss of production already planned related to the implementation of the company's response plan..
Deliveries
.Consolidated worldwide deliveries for Stellantis in the second quarter of the year stood at 1.4 million units, down 6 per cent year-on-year, 'due to production pauses related to North American tariffs impositions at the beginning of the quarter, as well as a reduced, but negative, impact of product transition in enlarged Europe, where several major models are either being accelerated after recent launches, or awaiting production start-ups scheduled for the second half of 2025,' describes a Group note.
In North America in particular, second-quarter deliveries were down about 109,000 units compared to the same period in 2024, a 25% year-on-year decline, due to "reduced production and shipments of imported vehicles, which are most affected by tariffs, and lower sales to corporate fleets". Total sales were down 10% year-on-year, with retail sales in the US stable and the region's two most important brands, Jeep® and Ram, "posting a combined 13% year-on-year increase in sales".
