Full Year 2024 Stellantis NV Earnings Call Transcript
Key Points
- Stellantis NV (STLA) has launched 30 new products between 2024 and 2025, aiming to regain market share and drive growth.
- The company has successfully reduced US dealer inventories from 430,000 units to 304,000 units, improving inventory management.
- Stellantis NV (STLA) is focusing on regional empowerment, allowing decisions to be made closer to customers and improving responsiveness.
- The company is committed to returning to positive industrial free cash flow in 2025, with expectations of significant improvement in the second half of the year.
- Stellantis NV (STLA) is transitioning to quarterly reporting by 2026, enhancing transparency and facilitating better comparisons with peers.
- Stellantis NV (STLA) experienced a 17% decline in net revenues for 2024, driven by lower shipment volumes and FX headwinds.
- The company reported a steep decline in adjusted operating income, from EUR24.3 billion in 2023 to EUR8.6 billion in 2024.
- Stellantis NV (STLA) faced a negative industrial free cash flow of EUR6 billion in 2024, impacted by lower AOI and increased working capital.
- The company has lost market share in both Europe and North America since its creation, with a 5% decline in each region.
- Stellantis NV (STLA) had significant one-time charges in 2024, including EUR1.6 billion in restructuring charges and EUR800 million related to the Takata airbag recall.
Hello, and welcome to Stellantis full-year 2024 results. I will now hand over to our host, Ed Ditmire, Head of Investor Relations, to begin today's conference. Thank you.
Hello, everyone, and thank you for joining us today as we review Stellantis full-year 2024 results. Earlier today, the presentation for this call, along with the related press release were posted under the Investors section of the Stellantis group website. Today, our call is hosted by John Elkann, Executive Chairman; and Doug Ostermann, the company's Chief Financial Officer. After their prepared remarks, Mr. Elkann and Mr. Ostermann will be available to answer questions from the analysts.
Before we begin, I want to point out that any forward-looking statements we might make on today's call are subject to the risks and uncertainties mentioned in the Safe-Harbor statement included on page 2 of today's presentation. As customary, the call will be governed by that language.
Now I'll hand over the call to John Elkann,
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