Stellantis Shares Rise on Progress in Recovery Plan

Stellantis shares saw a significant boost on Wednesday following the release of its third-quarter results. The company showed progress in its 60 billion euro restructuring plan. Revenue for the period grew 1% year-over-year to reach 37.6 billion euros.

Adjusted operating profit jumped to 256 million euros, surpassing the 90 million recorded in the same period last year. Industrial free cash flow showed a 4 billion euro deficit. This figure represents a slight improvement compared to the negative balance of 4.3 billion euros observed previously.

The automaker's management reaffirmed the targets set for 2026. The main objective remains achieving positive free cash flow next year. CEO Antonio Filosa stated that the company is ahead of schedule regarding cost-cutting measures.

The company plans to invest 36 billion euros in its global brand portfolio. A large portion of this amount will be directed toward the North American sector. The strategy includes renewing models and integrating new technologies into vehicles.

The landscape for European automakers remains challenging due to growing competition from Chinese brands. Stellantis aims to increase its revenue to 190 billion euros by 2030. The goal is to reach an adjusted operating margin of 7% by the end of the decade.