Stellantis, how are the accounts of FCA and PSA going
All the details on the 2020 financial statements of FCA and PSA now merged into Stellantis
The counts of Stellantis are racing. FCA and PSA, which merged into Stellantis on January 16 , with the de facto acquisition of the Italian-American car manufacturer by the French company, recorded positive margins , with a “record” fourth quarter for FCA.
All the details.
THE NUMBERS OF FCA
Let's start with the Italian-American house. FCA closed 2020 with a break-even net profit and an adjusted net profit of 1.9 billion. Adjusted EBIT for 2020 amounted to 3.7 billion, with a margin of 4.3%.
Free cash flow is € 0.6 billion.
REVENUES DOWN
However, due to a pandemic, revenues are down: they amounted to 86.6 billion, down 20% in 2020 compared to 2019.
THE FOURTH QUARTER OF FCA
The fourth quarter, for FCA, closed with an adjusted Ebit of 2.3 billion euros and 2.2 billion respectively and margins of 8.2% and 11.6%. Industrial free cash flow at € 3.9 billion.
THE NUMBERS OF PSA
The French are also satisfied, which despite having recorded an adjusted operating profit of the group at 3.685 billion, down by 41.7%, with an operating profit for the automotive division -33% at 3.377 billion, say that they have shown "high profitability, despite Covid-19, with an adjusted operating margin of the motor business at 7.1% ”, reads the note .
The group closed 2020 with a net profit of € 2.2 billion, less than € 3.5 billion in 2019, with the motor business reporting an adjusted operating margin of 9.4% in the second half of the year.
REVENUES
Like FCA, PSA also saw revenues drop to 60.7 billion, 18.7% less, but the net financial position of the Auto business was positive for 13.2 billion.
EXPECTATIONS FOR 2021
For 2021, Stellantis expects an adjusted operating margin of 5.5 – 7.5%, provided that, the company specifies, "there are no significant lockdowns due to Covid-19".
THE SATISFACTION OF TAVARES
“These results demonstrate the financial strength of Stellantis, which arises from the union of two healthy and strong Groups. Stellantis makes its debut by positioning itself at the top and is fully focused on achieving the anticipated synergies ”, commented the results Carlos Tavares, CEO of Stellantis.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/stellantis-come-vanno-i-conti-di-fca-e-psa/ on Wed, 03 Mar 2021 10:29:12 +0000.