Stellantis Reports 14% Revenue Growth in Q1 Driven by Higher…

Stellantis Reports 14% Revenue Growth in Q1 Driven by Higher…

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  • Stellantis NV STLA reported Revenue growth of 14% in Q1 FY23 compared to the previous year to 47.2 billion euros.
  • Sales growth was fueled by higher shipments Semiconductor supply improved.
  • Consolidated shipments of 1,476,000 units increased 7% year over year.
  • Sales in North America and greater Europe increased 10% year over year and in the Middle East and Africa increased 55%.
  • Global sales of battery electric vehicles (BEV) grew 22% year over year.
  • also read: Stellantis plans to take over hourly workers to reduce costs
  • The company intends to launch 9 more BEVs in 2023, and the total supply of BEVs is expected to reach 47 by the end of 2024.
  • A dividend of €1.34 per share was approved at the Annual General Meeting, which is to be paid out to shareholders on May 4, 2023.
  • Stellantis has initiated a €1.5 billion share buyback and the €500 million first tranche is expected to close in June 2023.
  • Price promotion: STLA shares are trading down 1.78% at $16.04 on the latest premarket check Wednesday.
  • Photo via company



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