Stellantis posts strong 2020 results despite COVID

Weird Italy 2548b562472296c70f1630a90a5b0320 Stellantis posts strong 2020 results despite COVID What happened in Italy today

(ANSA) – TURIN, MAR 3 – Stellantis, the new group produced by
the merger of FCA and PSA, on Wednesday posted strong 2020
results despite the COVID-19 emergency.
    FCA showed an adjusted EBIT of €3.7 billion with 4.3% margin,
net profit at breakeven with adjusted net profit of €1.9
billion, and industrial free cash flows positive at €0.6
billion.
    PSA showed 7.1% automotive adjusted operating margin at €3.4
billion, 9.4% H2 automotive adjusted operating margin at a
record level , net result group share at €2.2 billion, €2.7
billion automotive free cash flow, and a €13.2 billion
automotive net financial position.
    “These figures demonstrate the financial soundness of
Stellantis, bringing together two strong and healthy companies.
    Stellantis gets off to a flying start and is fully focused on
achieving the full promised synergies,” said Carlos Tavares,
Stellantis CEO.
    Stellantis shares gained 2.3% in Milan on the results and bright
2021 forecasts.
    Stellantis is the world’s fourth biggest carmaker. (ANSA).
   

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