Stellantis opens for new guidance. Filosa in Spain: 'Important country for us'
CFO Doug Ostermann: forecasts for the year could come with the first-half accounts. The former Tavares on the new ceo: 'logical and credible' choice. Then he makes mea culpa
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Just a few hours after the announcement of the appointment of Antonio Filosa as the new CEO of Stellantis , the automotive group is back in the spotlight for the words of its chief financial officer, Doug Ostermann. Speaking at Bernstein's annual conference, the manager drew a picture not devoid of signs of confidence: the guidance suspended at the end of April, following the uncertainty generated by the duties imposed by the United States, could be updated when the first-half accounts are presented.
'I am not going to give any new guidance today,' Ostermann began, 'but I hope that the points still to be clarified with the US administration will help us to narrow the range and better understand the dynamics. We would really like to come back with some guidance in the near future. And I hope that perhaps with the first half-year accounts we will be able to do something about that. We will see."
A glimmer of hope, in short, that comes in a context made uncertain by US trade policy, in particular the 25% tariffs on certain automotive imports, relaunched by Donald Trump. Now the group seems to want to get back on a clearer trajectory, at least financially. According to Ostermann, despite 'headwinds' from North America - including tariffs and the strength of the euro - the performance of non-US markets appears to be in line with initial expectations.
How much Trump's tariffs could weigh on accounts
On the duties front, however, the figures are beginning to emerge with some clarity. According to estimates communicated by the financial director of the Franco-Italian group himself, the net impact on the accounts could oscillate between EUR 1 and 1.5 billion. A significant figure, although 'manageable', as Ostermann pointed out, thanks to the geographic diversification of the business: 'More than 50% of our profit comes from markets outside North America'.
Caution, however, is in order: 'We are reluctant to give precise numbers, because things change quickly. What is the point of giving a figure that in five days' time may no longer be valid?" the manager explained. However, the dialogue with Washington is described as 'good' and evolving. "The administration has listened and some changes to the measures have already been made. We will see if there will be further mitigations."
