Stellantis N.v. · EURONEXT:STLAP
Stellantis — Shareholder Meeting (April 2024)
28 slides from Stellantis's shareholder meeting presentation, Apr 16, 2024
Slide 1: Annual General Meeting
ANNUAL GENERAL MEETING April 16, 2024 Full Year 2023 Results Jeep Wagoneer S
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “FY 2024 Company Guidance”, contains forward looking reforms or other changes in tax laws and regulations; the level of governmental economic statements. In particular, statements regarding future financial performance and the Company’
Slide 3: Record Performance, Clear Transformation Progress
RECORD PERFORMANCE, CLEAR TRANSFORMATION PROGRESS Dodge Charger Daytona SRT Concept Growth in Top and Bottom Delivering on Dare Resilient and Ready for Any Line Financial Results Forward Commitments Scenario in 2024
Slide 4: Record Results Confirm the Stellantis Strategy Is on Track
RECORD RESULTS CONFIRM THE STELLANTIS STRATEGY IS ON TRACK Growth in Net Revenues and Industrial Free Cash Flows €12.9B Outstanding 2023 Capital Return Growth in Top & Adj. Operating Income(1) up 19% y-o-y; driven by AOI performance and Returned €6.6B to shareholders, equivalent to Bottom Net Revenu
Slide 5: North America: Resilient Execution Laying the Foundation for LEV Surge in 2024
NORTH AMERICA: RESILIENT EXECUTION LAYING THE FOUNDATION FOR LEV SURGE IN 2024 15.4% AOI(1) Margin Market Share 9.4% Highest U.S. ATP Down 100 bps y-o-y, due primarily to down 130 bps y-o-y, with across portfolio vs. competitors(2) production disruptions and costs related to gains in Mexico more tha
Slide 6: Enlarged Europe: Responding to Competition, Sustaining Leading Position
ENLARGED EUROPE: RESPONDING TO COMPETITION, SUSTAINING LEADING POSITION AOI(1) Grew to €6.5B EU30 Market Share 18.3% #3 in EU30 BEV Sales Margin stable y-o-y at 9.8%, despite down 140 bps y-o-y, Enlarged Europe shipments 14.2% market share; growing BEV sales increasing the LEV and BEV mix up 188k un
Slide 7: Third Engine Thriving with China Resetting Growth Strategy
“THIRD ENGINE”(1) THRIVING WITH CHINA RESETTING GROWTH STRATEGY CHINA AND MIDDLE EAST & AFRICA SOUTH AMERICA INDIA & ASIA PACIFIC AOI(2) Margin of 23.7% AOI Margin of 14.8% AOI Margin of 14.2% AOI more than doubling y-o-y to €2.5B AOI up 16% y-o-y to €2.4B stable y-o-y, despite Net Revenues and AOI
Slide 8: Financial Results
FINANCIAL RESULTS APRIL 16, 2024 ANNUAL GENERAL MEETING | 8
Slide 9: Strong Development Across Focus Metrics
STRONG DEVELOPMENT ACROSS FOCUS METRICS Shipments Net Revenues AOI(1) Margin Industrial FCF 6.2M €189.5B 12.8% €12.9B +7% +6% -60 bps +19% Double-digit consolidated Growth in shipments coupled Due to costs of North American Driven by AOI growth and shipment growth outside of with strong net pricing,
Slide 10: Strong 12.8% AOI Margin and €12.9B Industrial Free Cash Flows
STRONG 12.8% AOI MARGIN(1) AND €12.9B INDUSTRIAL FREE CASH FLOWS FY 2023 vs. € million, except as otherwise stated FY 2023 FY 2022 FY 2022 Combined Shipments(2) (000 units) 6,393 6,003 + 6% • Operating income includes unusual charges of €2.0B, down y-o-y from Consolidated Shipments(2) (000 units) 6,
Slide 11: 2024 Capital Return Plans: Commitment to an Efficient Balance Sheet
2024 CAPITAL RETURN PLANS: COMMITMENT TO AN EFFICIENT BALANCE SHEET Purchases from Strategic Partners Open Market Buybacks ≥7.7 Dividends 6.6 Announcing new €3.0B(1) open-market buyback(2) program +26% Increase in cash returned to 3,0 shareholders through ordinary dividends 0,9 Reserve option to buy
Slide 12: FY 2024 Company Guidance – Addressing Headwinds Through Efficiency
FY 2024 COMPANY GUIDANCE – ADDRESSING HEADWINDS THROUGH EFFICIENCY Revenue Backdrop Industrial Free Cash Flows* Supportive Double-Digit Positive Minimum Commitment2024 Raw Materials Product portfolio expansion Benchmark profitability Tailwinds Non-repeat NA Labor Negotiations Moderating interest rat
Slide 13: 2024 Strategic Outlook
2024 STRATEGIC OUTLOOK APRIL 16, 2024 ANNUAL GENERAL MEETING | 13
Slide 14: BEV Portfolio to Expand 60% to 48 in 2024
Peugeot E-3008 Ram 1500 REV Citroën ë-C3 BEV PORTFOLIO TO EXPAND 60% TO 48 IN 2024, REINFORCING THE DNA OF OUR ICONIC BRANDS Jeep Wagoneer S Dodge Charger Jeep Recon Daytona SRT Concept
Slide 15: BEV-Optimized and Future Proof
STLA Medium STLA Large Up to 700km range WLTP cycle Up to 500 miles range EPA cycle BEV-OPTIMIZED AND FUTURE PROOF Raising the Industry Standard with Tailored Vehicle Capabilities Engineered-in Flexibility Benchmark Performance segment-topping range, charging strong competitiveness to reinforce our
Slide 16: 2023: Another Record Year
2023: ANOTHER RECORD YEAR Chrysler Halcyon Concept Car Growth in Top and Bottom Delivering on Dare Resilient and Ready for Any Line Financial Results Forward Commitments Scenario in 2024
Slide 17: Appendix
APPENDIX APRIL 16, 2024 ANNUAL GENERAL MEETING | 17
Slide 18: Definitions and Notes to Presentation
DEFINITIONS AND NOTES TO PRESENTATION For purposes of this presentation, and unless otherwise stated: • LEV = Low emission vehicles, which include battery electric (BEV), plug-in hybrid (PHEV), range-extender electric vehicle (REEV), and fuel cell electric (FCEV) vehicles • EU30 = EU 27 (excluding M
Slide 19: Non-GAAP Financial Measures (1 of 3)
NON-GAAP FINANCIAL MEASURES (1 of 3) Stellantis monitors its operations through the use of several non-generally accepted accounting principles (non-GAAP) financial measures. Company management believes that these non-GAAP financial measures provide useful and relevant information regarding our oper
Slide 20: Non-GAAP Financial Measures (2 of 3)
NON-GAAP FINANCIAL MEASURES (2 of 3) • Adjusted Operating Income/(Loss) excludes from Net profit/(loss) adjustments comprising restructuring and other termination costs, impairments, asset write-offs, disposals of investments and unusual operating income/(expense) that are considered rare or discret
Slide 21: Non-GAAP Financial Measures (3 of 3)
NON-GAAP FINANCIAL MEASURES (3 of 3) This change was implemented as management believes these results are becoming increasingly relevant due to the number of partnerships Stellantis has recently engaged in, and will continue to engage in in the future, around electrification and other areas critical
Slide 22: Reconciliation of Net Revenues from External Customers to Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES FY 2023 China and North Enlarged Middle East South India & Asia € million America Europe & Africa America Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 86,498 66,444 10,560 16,148 3,526 2,335 4,033 18
Slide 23: Reconciliation of Net Profit to Adjusted Operating Income (FY 2023)
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME FY 2023 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (*) Stellantis Net Profit 18,625 Tax Expense 3,793 Net Financial Expenses/(Income) (42) Operating Income(1) 22,37
Slide 24: Reconciliation of Net Profit to Adjusted Operating Income (FY 2022)
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME FY 2022 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (*) Stellantis Net Profit 16,779 Tax Expense 2,729 Net Financial Expenses 768 Operating Income(1) 20,276 Adjustme
Slide 25: Reconciliation of Diluted EPS to Adjusted Diluted EPS
RECONCILIATION OF DILUTED EPS TO ADJUSTED DILUTED EPS € million, except as otherwise stated FY 2023 FY 2022 Net profit attributable to owners of the parent 18,596 16,799 Weighted average number of shares outstanding (000) 3,107,725 3,140,089 Number of shares deployable for share-based compensation 2
Slide 26: Reconciliation of Cash Flows from Operating Activities to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS € million FY 2023 FY 2022 Cash Flows from Operating Activities 22,485 19,959 Less: Operating Activities not Attributable to Industrial Activities (753) 211 Less: Capital Expenditures and Capitalized R&D Expenditures
Slide 27: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million Dec 31 2023 Jun 30 2023 Dec 31 2022 Debt (29,463) (29,467) (27,153) Current Financial Receivables from Jointly-Controlled Financial Services Companies 767 985 321 Derivative Financial Assets/(Liabilities), Net and Collateral Depos
Slide 28: Stellantis
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