The car manufacturer published on Wednesday, February 26, published net profit in high decrease over the year 2024, to 5.5 billion euros (-70%), for an operating margin of 5.5%. The group notably calls into question its difficulties in North America, on the way to being settled according to him. Results that will result in lower bonuses for employees.
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An CEO Oumed last December, a new one who is slow to be appointed, scandals that the group would have gone well, such as PureTech engines, Takata airbags … and today a net profit in sharp drop of -70 %, the automaker Stellantis is experiencing little glorious hours at the moment. “We suspected it,” said the trade unionists.
Yes, perhaps, but the net profit is however confusing. This Wednesday, February 26, the group communicated on its figures and they are down sharply. Turnover is 156.9 billion euros, it drops 17% compared to 2023, and net profit amounts to 5.5 billion euros or a drop of -70% in one year.
We knew very well that with the energy transition it was going to go in this direction. You have to roll up your sleeves and make the bar straighten
Jean-Paul Guy, assistant central union delegate CFTC Stellantis France
On the side of the CGT, on the other hand, the tone is more vindictive: “The profits are there. There were 6.7 billion transferred to shareholders in 2024. It is the provocation of management, to give crumbs to employees, “recalls Jérôme Boussard, secretary general CGT Stellantis Sochaux in Doubs.
“After 47 billion profits already collected since January 2021 date of the group’s creation. The profits from our work to everyone during the year 2024 come to grow this financial windfall of an additional 5.5 billion! These results prove once again that the money which enters the stellantis chests continues to flow to waves ”continues the CGT in its press release.
For FO, this situation is worrying and highlights the effects of a strategy that struggles to guarantee economic stability for all the group’s employees.
The announcement of Stellantis figures for exercise 2024 leaves a bitter taste. The results are divided by two, resulting in direct consequences for employees: no participation in profits. A negative free cash flow, which does not mean profit -sharing this year.
Thierry Giroux, FO metals Sochaux secretary
After years of record profits, the car manufacturer had in 2024 in particular to draw 6 billion euros in its cash. Consequence of these bad figures from last year, at the Sochaux factory for example, employees should receive a value sharing premium “between 900 and 1,700 gross to employees as well as to executives who were so far private ”, specifies Jean-Paul Guy, assistant central union delegate CFTC Stellantis France.
The management now plans the profit -sharing and participation bonuses by setting up a premium which decreases the amounts of 60%: these are € 1535 net maximum for 100% of presence
The CGT of Sochaux in its press release
And establish a comparison with Renault. “For example Renault has just announced for salaries ranging from € 1900 to € 3,000 gross, a profit -sharing bonus from € 2900 to € 3,900 gross for a net profit of 0.8 billion! Stellantis is 7 times more benefits! ”
For 2025, the group plans to bounce back with a new managing director and the launch of ambitious models such as the Citroën C3 Aircross and the Fiat Grande Panda, but its forecasts for 2025 reflect “the early stadium of the recovery” of the group as well as ” Increased uncertainties in the “automotive sector, the management said in its press release.
In Europe, turnover dropped by 11% was marked by the transition between two generations of vehicles, as well as several launch delays due to quality problems.
In North America, key market for the group, turnover collapses by -27%.
Although 2024 was a very contrasted year for the company, with results below our potential, we have crossed important strategic stages
John Elkann, Chairman of the Stellantis Board of Directors
The interim management team has already undertaken to settle the Carlos Tavare era, renowned for its harshness, by announcing “increased collaboration with dealers in the United States and Europe to accelerate the return to growth”, a “communication intensified with suppliers “, and a” more sustained dialogue with governments “.
The group has also given back autonomy to its leaders in the various geographic areas, created a global management of quality and a new marketing management. However, the bad figures announced this Wednesday morning impacted the share on the stock market since the automaker Stellantis is offering more than 5% on the Paris Stock Exchange this Wednesday morning.