The Stellantis group announced a 12% drop in revenues in the first quarter of 2024. Revenues stopped just below 42 billion euros, as the group explains, mainly due to “lower volumes, currency exchange effects and mix unfavorable, partly offset by stable prices”. The cars […]
TO CONTINUE READING
SUPPORT US
€1 FOR THE FIRST MONTH
Already a subscriber?
KEEP READING
The Stellantis group announced a 12% drop in revenues in the first quarter of 2024. Revenues stopped just below of the 42 billion euros, as the group explains, mainly due to “lower volumes, currency exchange effects and unfavorable mixes, partly offset by stable prices”. The cars delivered were 1,335,000, down by 10%. The data, despite the company’s justifications, was poorly received: the stock loses almost 8% on the stock market. A few weeks ago the group’s CEO had a maxi increase of 55% in his salary approved, brought to 23.4 million euros per year. The company also announce that it will distribute to shareholders an ordinary dividend of 1.55 euros per share (increasing by 16% compared to the previous year) approved by the shareholders’ meeting with payment date 3 May. The first beneficiary will be the Dutch financial company Agnelli-Elkann, Exor which holds 14.2% of Stellantis.
Meanwhile today it is still Pomigliano d’Arco plant (Naples), due to the eight-hour strike for each shift proclaimed by Fim, Uilm, Fismic and Uglm to protest, among other things, against “the lack of safety standards in the factory and the failure to restore the escalator to the canteen”. “We need certain guarantees for the future – said the general secretary of Uilm Campania, Crescenzo Auriemma and the territorial secretary Uilm Campania, Giuseppe D’Alterio – we can no longer compromise on security.”
This morning also the German group Volkswagen has released the data for the beginning of 2024. The quarter closed with revenues of 75.5 billion euros, down 1% over the same period in 2023, with operating profits down 20.2% to 4.6 billion and with net profit of 3.7 billion, down 21.6%. The cars sold, we read in a note, are fell 2% to 2.08 million of units while customer deliveries increased by 3.1% to 2.1 million.
