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Stellantis operating profit rises 11% in H1 topping forecasts
© Reuters. FILE PHOTO: The logo of Stellantis is seen on a company’s building in Velizy-Villacoublay near Paris, France, Feb. 23, 2022. REUTERS/Gonzalo Fuentes/File Photo
MILAN (Reuters) – Carmaker Stellantis said on Wednesday its operating profit rose 11% in the first half of this year, whit revenues also increasing thanks to higher vehicle shipments.
The world’s third largest carmaker by sales said its adjusted earnings before interest and tax (EBIT) amounted to 14.1 billion euros ($15.6 billion) in the January-June period, topping analyst expectations of 12.1 billion euros in a Reuters poll.
The margin on adjusted EBIT however stood at 14.4% in the first half, slightly decreasing from 14.5% a year earlier, when pricing power was supported by a “significant” inflationary environment, Chief Executive Carlos Tavares said.
The group confirmed a previous target for a double-digit margin on the full-year.
($1 = 0.9784 euros)
($1 = 0.9051 euros)
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