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5/5, 8:06 AM (Source: TeleTrader)
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Stellantis reports revenue of €34.3 billion in Q1

Stellantis N.V., which was formed on January 17 following a merger of PSA Group and Fiat Chrysler Automobiles (FCA), said on Wednesday that its net revenues in the first quarter of 2021 amounted to €34.3 billion.

Pro forma revenues, which are presented as if the merger had occurred on January 1 and include FCA's performance until January 16, rose 14% year on year to €37 billion. The combined company noted it shipped 1.48 million vehicles in the first trimester of the year, while on a pro format basis, shipments climbed 11% to 1.58 million.

"In our first quarter since the Merger, Stellantis posted strong Q1 2021 revenues with the diverse brand portfolio driving increased volumes, positive pricing and improved product mix, despite the headwinds from the global semiconductor crisis," CEO Richard Palmer stated.

Breaking the News / NP