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    STLA   NL00150001Q9

STELLANTIS N.V.

(STLA)
  Report
Real-time Estimate Tradegate  -  03:59 2022-09-27 pm EDT
12.85 EUR   +1.01%
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Stellantis N : Income Statement by activity - Form 6-K

08/05/2022 | 04:32pm EDT
Income Statement by activity
Unaudited
For the six months ended June 30, 2022
For the six months ended June 30, 2021(1)
(€ million) Stellantis Industrial activities Financial services Stellantis Industrial activities Financial services
Net revenues
87,999 87,751 326 72,610 72,543 125
Cost of revenues
69,865 69,757 186 58,301 58,289 70
Selling, general and other costs
4,460 4,404 56 4,550 4,531 19
Research and development costs
2,547 2,547 - 2,046 2,046 -
Gains/(losses) on disposal of investments
31 31 - 2 2 -
Restructuring costs
838 838 - 371 371 -
Operating income 10,320 10,236 84 7,344 7,308 36
Net financial expenses
431 431 - 217 217 -
Profit before taxes
9,889 9,805 84 7,127 7,091 36
Tax expense
1,985 1,970 15 1,729 1,714 15
Share of the profit of equity method investees 56 (285) 341 402 73 329
Result from intersegment investments - 410 - - 350 -
Net profit from continuing operations
7,960 7,960 410 5,800 5,800 350
Profit from discontinued operations, net of tax
- - - 990 990 -
Net profit
7,960 7,960 410 6,790 6,790 350
Adjusted operating income(2)
12,374 12,292 82 n.a. n.a. n.a.
Pro Forma Adjusted operating income(2)
n.a. n.a. n.a. 8,622 8,580 42
______________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions.
(1) On January 16, 2021, Peugeot S.A. ("PSA") merged with and into Fiat Chrysler Automobiles N.V. ("FCA N.V."), with FCA N.V. as the surviving company in the merger (the "merger"). On January 17, 2021, the current members of the board of directors were appointed, the Stellantis articles of association became effective, and the combined company was renamed Stellantis N.V. On this date, the Stellantis management and board of directors collectively obtained the power and ability to control the assets, liabilities and operations of both FCA and PSA. As such, under IFRS 3, Business Combinations, January 17, 2021 is the acquisition date for the business combination. PSA was determined to be the acquirer for accounting purposes, therefore, the historical financial statements of Stellantis represent the continuing operations of PSA, which also reflect the loss of control and the classification of Faurecia S.E. (Faurecia) as a discontinued operation as of January 1, 2021. As the acquisition date of business combination was January 17, 2021, the results of FCA for the period January 1 -16, 2021 are excluded from the results for the six months ended June 30, 2021.
(2) The reconciliation of Net profit from continuing operations to Adjusted operating income and to Pro Forma Adjusted operating income for the Company is included in the Stellantis Semi-Annual Report as of and for the six months ended June 30, 2022 - Management discussion and analysis - Company results. The Adjusted operating income for the six months ended June 30, 2021 is reported on a pro-forma basis thus including the results of FCA for the period January 1 -16, 2021.
n.a. = not applicable

Statement of Financial Position by activity
Unaudited
At June 30, 2022 At December 31, 2021
(€ million) Stellantis Industrial activities Financial services Stellantis Industrial activities Financial services
Assets
Goodwill and intangible assets with indefinite useful lives 32,115 31,984 131 29,921 29,802 119
Other intangible assets
18,223 18,118 105 16,635 16,542 93
Property, plant and equipment
37,192 37,117 75 35,488 35,443 45
Investments
6,129 8,396 4,761 6,022 7,847 4,591
Deferred tax assets
1,888 1,849 39 1,927 1,893 34
Inventories
15,722 15,698 24 11,361 11,342 19
Assets sold with a buy-back commitment 2,295 2,295 - 2,134 2,134 -
Trade receivables 4,395 4,456 73 2,998 3,049 51
Tax receivables 379 382 4 390 383 7
Other assets and prepaid expenses 14,194 10,977 3,921 12,628 9,797 3,752
Financial assets 3,036 2,922 150 2,510 2,409 152
Cash and cash equivalents 46,355 45,278 1,077 49,629 48,616 1,013
Assets held for sale 303 154 149 123 123 -
TOTAL ASSETS
182,226 179,626 10,509 171,766 169,380 9,876
Equity and Liabilities
Equity 65,623 65,623 7,028 56,307 56,307 6,417
Employee benefits liabilities 7,661 7,661 - 8,749 8,748 1
Provisions 19,583 19,472 114 17,179 17,085 96
Deferred tax liabilities 4,745 4,738 7 4,374 4,368 5
Debt 28,164 25,900 3,000 33,582 31,533 3,018
Trade payables 31,448 31,455 103 28,181 28,177 70
Other financial liabilities 60 60 - 95 95 -
Tax liabilities 1,344 1,324 27 1,113 1,086 35
Other liabilities 23,572 23,367 230 22,135 21,930 234
Liabilities held for sale 26 26 - 51 51 -
TOTAL EQUITY AND LIABILITIES
182,226 179,626 10,509 171,766 169,380 9,876
________________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions.


Statement of Cash Flows by activity
Unaudited

For the six months ended June 30, 2022 For the six months ended June 30, 2021
(€ million) Stellantis Industrial activities Financial services Stellantis Industrial activities Financial services
Consolidated profit from continuing operations 7,960 7,960 410 5,800 5,800 350
Adjustments for non-cash items
depreciation and amortization 3,225 3,213 12 2,647 2,662 (15)
(gains) losses on disposals 7 4 3 36 36 -
change in deferred taxes (142) (140) (2) 206 206 -
other non cash items 185 155 30 (377) (266) (111)
Change in provision 1,400 1,382 18 (2,440) (2,447) 7
Result of equity method investments net of dividends received 84 (50) (276) 117 (150) (83)
Change in carrying amount of leased vehicles (75) (48) (27) 391 398 (7)
Changes in working capital
(2,801) (2,762) (39) (765) (602) (160)
Net cash from (used in) operating activities of discontinued operations - - - - - -
Net cash from (used in) operating activities 9,843 9,714 129 5,615 5,637 (19)
Proceeds from disposals of shares in consolidated companies and of investments in non-consolidated companies 107 107 - (3) (4) 1
Acquisitions of consolidated subsidiaries and equity method and other investments (194) (293) - (137) (137) -
Cash and cash equivalents of FCA at the Merger - - - 22,514 22,185 329
Proceeds from disposals of tangible and intangible assets 74 73 1 53 53 -
Investments in property, plant and equipment and intangible assets (3,963) (3,942) (21) (4,623) (4,614) (9)
Change in amounts payable on property, plant and equipment and intangible assets (446) (446) - (368) (368) -
Net change in receivables from financing activities (319) 37 (354) (560) 67 (693)
Other changes 75 71 4 48 48 -
Net cash from used in investing activities of discontinued operations - - - (3,117) (3,117) -
Net cash from (used in) investing activities (4,666) (4,393) (370) 13,807 14,113 (372)
Distributions paid (3,260) (3,260) (2) (4,199) (4,199) -
Proceeds from issuance of shares - - 99 242 242 -
(Purchases) sales of treasury shares 1 1 - (2) (2) -
Changes in debt and other financial assets and liabilities (6,643) (6,787) 160 2,200 1,686 577
Change in securities (212) (231) 20 - - -
Other changes 26 9 - (42) (48) 6
Net cash from (used in) financing activities of discontinued operations - - - - - -
Net cash from (used in) financing activities (10,088) (10,268) 277 (1,801) (2,321) 583
Effect of changes in exchange rates 1,637 1,609 28 298 293 5
Increase (decrease) in cash from held for sale - - - - - -
Increase (decrease) in cash (3,274) (3,338) 64 17,919 17,722 197
Net cash and cash equivalents at beginning of period 49,629 48,616 1,013 22,893 22,301 592
NET CASH AND CASH EQUIVALENTS AT END OF PERIOD 46,355 45,278 1,077 40,812 40,023 789
________________________________________________________________________________________________________________________________________________
Figures presented for Industrial activities and Financial services include intersegment transactions.

Disclaimer

Stellantis NV published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 20:29:39 UTC.


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Financials
Sales 2022 174 B 167 B 167 B
Net income 2022 15 346 M 14 730 M 14 730 M
Net cash 2022 25 515 M 24 491 M 24 491 M
P/E ratio 2022 2,62x
Yield 2022 10,1%
Capitalization 41 240 M 39 586 M 39 586 M
EV / Sales 2022 0,09x
EV / Sales 2023 0,06x
Nbr of Employees 281 595
Free-Float 75,3%
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Number of Analysts 24
Last Close Price 12,83 €
Average target price 21,41 €
Spread / Average Target 66,9%
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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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