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 [e-mail]

(END) Dow Jones Newswires

March 03, 2021 03:28 ET (08:28 GMT)

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