In Amsterdam this morning Stellantis said that Q1 results showed a net revenue of €41.5 billion, up 12% compared to €37.0 billion for Q1 202. This was helped by strong pricing and a more expensive vehicle mix, as well as favorable foreign exchange translation effects.
However, consolidated shipments of 1,374,000 units were down 1-2% primarily due to impact of unfilled semiconductor orders. Total new vehicle inventory of 807,000 thousand units was roughly comparable with 31 December 31, 2021. Stellantis inventory was 179,000 units. The positive performance followed an ordinary dividend of €1.04 per share that approved at annual meeting and paid to shareholders in April 2022.
“Our full-year guidance for double-digit Adjusted operating income margins and positive cash-flow is confirmed, despite supply and inflationary headwinds, as good product momentum and strategic partnerships continue to pave the way,” said Richard Palmer, CFO.
Stellantis’ Q1 2022 revenues were boosted by fresh products including Jeep Grand Cherokee L and Wagoneer/Grand Wagoneer for North America; DS4, Fiat New 500, Opel Mokka, and the light commercial vehicles range for Enlarged Europe; Jeep Grand Cherokee, Peugeot 3008 and Citroën C4 for Middle East & Africa; while Fiat Pulse, Jeep Compass, Peugeot 208 and Fiat Cronos strongly contributed to South America market leadership. Stellantis low emission vehicles(product momentum continues, Stellantis claimed leading to Enlarged Europe BEV sales being up more than 50% year-over-year.