4 March 2021
4 March 2021, Comments Comments Off on Strong 2020 results for FCA and PSA prior to formation of Stellantis
Strong 2020 results for FCA and PSA prior to formation of Stellantis

The earnings releases of the legacy operations of Fiat Chrysler Automobiles N.V. (FCA) and Peugeot S.A. (PSA) for the year ended December 31, 2020 (prior to legal merger to create Stallantis N.V. on 16 January 2021) show strong results for 2020 despite COVID-19 impacts.

Carlos Tavares, Stellantis CEO said: “These figures demonstrate the financial soundness of Stellantis, bringing together two strong and healthy companies. Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies.”

The Board has approved a €1.0B distribution to shareholders, subject to shareholder approval at the AGM on April 15, 2021.

FCA strong full year 2020 results included adjusted EBIT of €3.7 billion with 4.3 percent margin and net profit at breakeven with Adjusted net profit of €1.9 billion.

FCA reported record Q4 2020 results for Group and North America results, with Adjusted EBIT of €2.3 billion and €2.2 billion and margins of 8.2 percent and 11.6 percent, respectively, and with all regions and Maserati profitable.

PSA was highly profitable in 2020 despite COVID-19 with 7.1 percent Automotive adjusted operating margin at €3.4 billion, 9.4 percent H2 Automotive adjusted operating margin at a record level, and Net result Group share at €2.2 billion with €2.7 billion Automotive free cash flow and €13.2 billion Automotive net financial position.

Carlos Tavares, CEO Stellantis said: “2020 strong results have proven once again Groupe PSA’s resilience thanks to both the rigorous execution of the Push to Pass strategic plan and the agility and fighting spirit of the teams to push forward efficiency against headwinds. Groupe PSA sustainable financial results represent a key contribution to Stellantis launch, aiming at providing a clean, safe and affordable mobility as well as added value to all its external stakeholders and employees. I would also like to express my sincere and warm thanks to all employees for their outstanding behavior and commitment during this dreadful year.”