Dutch carmaker Stellantis reported on Thursday higher profit and revenues in its fiscal 2023.
Further, Stellantis is proposing to pay a dividend of €1.55 ($1.66) per share, an increase of approximately 16% compared to the prior year. The record date is April 23 and payment date is May 3.
Stellantis will also execute a 2024 open-market share buyback program of €3 billion, which includes €0.5 billion of shares repurchased to service share-based compensation and employee share purchase, in 2024.
Looking ahead for fiscal 2024, the carmaker said it was reiterating a minimum commitment of double-digit adjusted operating income margin, as well as positive industrial free cash flow, despite macroeconomic uncertainties.
Building on 2023 momentum, the company projects a supportive revenue backdrop in 2024, including reduced supply and logistical constraints, it said.
For fiscal 2023, net profit grew 11% to €18.63 billion from last year's €16.78 billion.
Adjusted operating income edged up 1% to €24.34 billion from €24.02 billion last year. Adjusted operating income margin, meanwhile, dropped 60 basis points to 12.8%.
Net revenues were €189.54 billion, up from last year's €179.59 billion, with consolidated shipment volumes increasing 7%.