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Stellantis posts record H1 results despite rising costs, chip headwinds

Stellantis posts record H1 results despite rising costs, chip headwinds

Reuters · 07/28/2022 02:00
Stellantis posts record H1 results despite rising costs, chip headwinds

- Carmaker Stellantis STLA, STLA.PA on Thursday posted record results for the first half of the year despite headwinds including raw material inflation and semiconductor scarcity.

The world's fourth largest carmaker said its adjusted earnings before interest and tax (EBIT) rose 44% on a pro-forma basis in the January-June period to 12.4 billion euros ($12.7 billion).

That exceeds analyst expectations of 9.42 billion euros in a Reuters poll.

The margin on adjusted EBIT rose to 14.1% from 11.4% a year earlier, with a double-digit result for all of the group's five regions.

($1 = 0.9784 euros)


(Reporting by Giulio Piovaccari and Gilles Guillaume; editing by Agnieszka Flak)

((giulio.piovaccari@thomsonreuters.com))