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    STLA   NL00150001Q9

STELLANTIS N.V.

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Delayed Borsa Italiana  -  11:41 2022-08-19 am EDT
14.44 EUR   -2.88%
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Chip crunch to cut Stellantis' Italy 2022 output by up to 220,000 vehicles -union

07/04/2022 | 08:42am EDT
FILE PHOTO: FILE PHOTO: Logo of Stellantis seen at the main entrance of FCA Mirafiori plant in Turin

MILAN (Reuters) - A global crunch in semiconductor supply could cost Stellantis up to 220,000 vehicles this year in terms of lost output in Italy, the FIM CISL union said, adding this would mark the fifth year in a row of declining production in the country.

FIM CISL said in its periodic report on the group's production in Italy that Stellantis produced 351,890 vehicles in the first half of this year, almost 14% less than in the same period last year, with the key Melfi plant and the Sevel van-making facility being the most affected sites.

Using data for the first half of the year and potential full-year production based on orders booked, the union estimates Stellantis could lose between 200,000-220,000 vehicles in 2022, said Ferdinando Uliano, the head of the FIM CISL union.

"It's as if one of the group's large plants stopped for a year," he said, adding the chip supply situation was not improving this year and would also affect production in 2023.

Uliano said factors including the war in Ukraine and the disruption to Russian gas supplies to Europe would only worsen the part supply situation for the automotive industry.

A spokesman for Stellantis declined to comment on data and forecasts provided by FIM CISL, but repeated the carmaker had been taking decisions regarding the management of its operations on a day-by-day, plant-by-plant basis since the start of the COVID pandemic.

(Reporting by Giulio Piovaccari; editing by Agnieszka Flak)


© Reuters 2022
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ChangeLast1st jan.
STELLANTIS N.V. -2.94% 14.438 Real-time Quote.-13.43%
STELLANTIS N.V. -2.88% 14.444 Delayed Quote.-13.44%
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Analyst Recommendations on STELLANTIS N.V.
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Financials
Sales 2022 174 B 175 B 175 B
Net income 2022 15 086 M 15 146 M 15 146 M
Net cash 2022 25 719 M 25 823 M 25 823 M
P/E ratio 2022 2,96x
Yield 2022 8,98%
Capitalization 45 413 M 45 596 M 45 596 M
EV / Sales 2022 0,11x
EV / Sales 2023 0,09x
Nbr of Employees 281 595
Free-Float 75,3%
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Number of Analysts 24
Last Close Price 14,44 €
Average target price 21,41 €
Spread / Average Target 48,3%
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Managers and Directors
Carlos Tavares Chief Executive Officer & Executive Director
Richard Keith Palmer Chief Financial Officer
John Jacob Philip Elkann Chairman
Harald J. Wester Chief Engineering Officer
Ned Curic Chief Technology Officer
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