Stellantis, declining revenues and loss of 22.3 billion in 2025

Stellarcloses the2025 con net revenuesequal to 13.5 billion, down 2% compared to 2024, mainly due to the negative effects ofexchange ratesand the decline ofnet pricesin the first half of 2025. The year recorded anet lossof 22.3 billion euros due to 25.4 billion euros ofextraordinary chargesfor the entire year, which mainly reflects astrategic changeaimed at reporting the preferences ofclients e la freedom of choiceat the heart of the company’s plans. Thereadjusted operating lossis 842 million euros with aAOI edge dello (0,5)%.

Nel 2025 il Industrial Cash Flow (Ifcf)it is negative by 4.5 billion euros. Theresecond half of 2025or the first 6 full months ofnew managementsaw aimprovement della revenue growthand the Ifcf. Top-line growth was re-established with a 10% increase innet revenuescompared to the previous year. The Ifcf for the second half, negative for 1.5 billion euros, represents an improvement of approximately 50% compared to the first half of 2025 and of 73% compared to the second half of 2024. Theindustrial liquidity availableit was 46 billion euros at the end of 2025. To preserve asolid capital structurethe Board of Directors authorized thesuspension of the 2026 dividendand the issuance ofhybrid bondsup to 5 billion euros.

The financial forecasts for 2026 and new products

Stellantis confirms its financial guidance for 2026. In particular, the group expects to progressively improve net revenues (Mid-single digit), Aoi margin (Low-single digit) and industrial free cash flows in 2026, and to witness progressive improvements from the first half of 2026 to the second half of 2026. The group expects free cash flow to improve year-on-year in 2026 and a return to industrial cash flow positive in 2027. Furthermore, in 2026, Stellantis’ growing wave of new products will broaden market coverage and point to new opportunities for profitable growth. In North America, for example, the Jeep Cherokee and Dodge Charger SIXPACK decisively mark their return to the mid-SUV and combustion engine muscle car segments, predicting further momentum generated by the launch, at the end of 2025, of the Ram 1500 HEMI V8 and Express models. In South America, the Ram Dakota mid-size pick-up represents the core of the range, while in wider Europe the Citroën C5 Aircross BEV, Jeep Compass BEV and the recently launched Fiat 500 Hybrid further strengthen the company’s ability to meet the full range of its customers’ needs.

The comment of the CEO of Stellantis, Antonio Filosa, and the performance of the second half of 2025

“Our fiscal 2025 results reflect the cost of overestimating the pace of the energy transition and the need to reset our business by focusing on customers’ freedom to choose from a full range of technologies: electric, hybrid and internal combustion. In the second half of the year we began to see the first positive signs of progress, thanks to the initial results of the actions taken to improve quality, the solid execution of our new wave of product launches and the return to revenue growth. In 2026 our focus will be to continue to close the execution gaps of the past, further accelerating towards a return to profitable growth.” Thus the CEO of Stellantis, Antonio Filosa, commenting on the 2025 results. Stellantis recorded, we read in a group note, “a solid performance” in the second half of 2025, with consolidated deliveries reaching 2.8 million units, with an increase of 277,000 vehicles, equal to +11% compared to the previous year. Growth was “broad-based,” with all regions seeing increased volumes. Notably, North America was the largest contributor, up 231,000 units, a +39% year-over-year increase, reflecting the benefits of normalized inventory dynamics, compared to the prior year’s inventory reduction initiative, along with increased trade momentum in the region.

Operational efficiency and quality management

These results – underlines the note from Stellantis – reflect the initial effect of greater operational efficiency, disciplined commercial strategies and the strength of the global portfolio of Stellantis brands. Furthermore, the renewed focus on quality management is showing its first results: the number of problems reported for vehicles in the first month of service has decreased by more than 50% in North America and by more than 30% in wider Europe since the beginning of 2025.