Net revenues grew 6% y-o-y to €189.5 billion, Net profit rose 11% to €18.6 billion, and Industrial free cash flows increased 19% y-o-y to €12.9 billion
Today’s record financial results are proof that we have become a new global leader in our industry and will remain rock solid as we look to a turbulent 2024
AMSTERDAM, Netherlands, February 20, 2024/APO Group/ —
Net revenues of €189.5 billion, up 6% compared to 2022, with consolidated shipment volumes increasing 7%; Net profit grew 11% to €18.6 billion. Adjusted operating income (1)rose 1% to €24.3 billion, with AOI margin of 12.8%; Industrial free cash flows (2) of €12.9 billion, an increase of 19% compared to 2022; Strong balance sheet, with Industrial available liquidity at €61.1 billion; LEV sales up 27% in 2023, with PHEVs at #1 in U.S. and #2 for LEVs in U.S. (3); 21% increase in global BEV sales in 2023; Returned €6.6 billion in cash to shareholders in 2023 through dividends and share buybacks, an increase of 53% compared to €4.3 billion in 2022; Dividend proposed of €1.55 per common share, increase of approximately 16% compared to prior year, pending shareholder approval; Announcing 2024 open market share buyback program of €3.0 billion.
“As we just passed the three-year mark since Stellantis’ inception, I warmly thank our teams who are executing at the highest levels and contributing greatly to our growth story, even in the strongest of headwinds. Today’s record financial results are proof that we have become a new global leader in our industry and will remain rock solid as we look to a turbulent 2024. Thanks to our flexible technology and product roadmap, we are prepared to address the various scenarios that could arise and to continue delivering on our Dare Forward 2030 targets.” Carlos Tavares, CEO
All reported data is unaudited. Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.
Stellantis N.V. reported record full year 2023 results. Net revenues grew 6% y-o-y to €189.5 billion, Net profit rose 11% to €18.6 billion, and Industrial free cash flows increased 19% y-o-y to €12.9 billion. Global BEV sales are up 21% y-o-y and LEV sales up are 27% y-o-y, with PHEVs in the U.S. at #1 (3) and #2 for LEVs in the U.S. (3) Results are in line with Dare Forward 2030 objectives and are supported by the following concrete actions:
CARE: Stellantis remains on track to achieve its carbon net zero emission target by 2038 (4). Stellantis reduced its scope 1 and 2 absolute emissions tCO2 by 20% in 2023 vs Baseline 2021. A constant focus on the customer led to a reduction of vehicle defect rates three months after customer delivery by more than 40%, as compared to 2021. Embracing a circular consumption model, the Company opened its first Circular Economy Hub in Italy, creating a center of excellence aimed at industrializing the recovery and sustainable reuse of materials, and the business realized 18% year-over-year sales growth. The Company launched an employee share purchase plan – Shares to Win – in Italy and France and will extend it to other countries during 2024. As well, more than 600 collective agreements were signed covering approximately 90% of employee across the world. The Stellantis Student Awards celebrated more than 600 family members of employees for dedication to continuous learning and education, and the Stellantis Foundation partnered with CERN to inaugurate the Science Gateway in Geneva, its new outreach center for science education.
TECH: To support overall market growth and the electrification push in North America, 18 additional BEVs will be launched in 2024, reaching a total of 48 models by end of 2024. The all-new Citroën ë-C3 starts at €23,300 and is the most competitively priced B-segment EV produced in Europe and the Jeep® Avenger, which was awarded European Car of the Year 2023, continues to earn top honors. Stellantis launched the first of four all-new BEV-centric platforms, STLA Medium, on the Peugeot E-3008 with best-in-class range of up to 700 kilometers (435 miles). The second platform, STLA Large, is launching in 2024 with 800 kilometers (500 miles) range and fitted to exceed customer expectations. STLA Large is a highly flexible, BEV-native platform that will serve as the foundation for upcoming global vehicles in the D and E segments, and able to take multiple propulsion systems, including hybrid and internal combustion. Stellantis secured raw materials sourcing through 2027, and signed an agreement with CATL for the supply of LFP battery cells and modules, further expanding its battery chemistries portfolio. Stellantis and Ample established a partnership in battery swapping technology to deliver fully charged EV batteries in less than five minutes. Stellantis joined Symbio and the other shareholders in inaugurating SymphonHy, the first gigafactory in France and Europe’s largest integrated site producing hydrogen fuel cells. Stellantis is implementing a multifaceted semiconductor strategy to ensure supply security and drive innovation. SiliconAuto, the 50/50 joint venture with Foxconn, will tailor chips aimed at a new generation of automotive industry vehicle platforms starting in 2026. In 2023, Stellantis Ventures invested in six new startups, and Stellantis signed 49 commercial contracts with new startups.
VALUE: Flexibility, execution, resilience and agility remain core tenants of the Stellantis mentality and with its several tech and new model announcements the Company is poised to profitably navigate customer demand, market fluctuations and political shifts. Stellantis delivered continued growth outside Enlarged Europe and North America with the “third engine” (5) delivering a 13% increase in Net revenues. In China, Stellantis invested €1.4 billion in Leapmotor, a pure play NEV OEM, and now holds approximately 21% equity, giving Stellantis a leading role in supporting their promising growth in China as well as global expansion opportunities through the new Leapmotor International joint venture managed by Stellantis. With it, Stellantis is addressing a white space in its business model and can now benefit from Leapmotor’s competitiveness both in China and abroad. The Stellantis Pro One commercial vehicles achieved market share leadership in EU30 and South America and is the undisputed leader in EU30 BEV sales with 38.8% BEV market share. The business is targeting to achieve global leadership by 2027 with its completely updated and expanded line-up including internal combustion, battery electric, fuel cell hydrogen and range extended variants. The Data-as-a-Service arm, Mobilisights, created innovative solutions and secured strategic agreements through its custom data packages and data streaming offer.
GUIDANCE AND OUTLOOK: Building on 2023 momentum, management notes a number of factors could create a supportive revenue backdrop in 2024, including reduced supply and logistical constraints, stabilizing and potentially reduced interest rates, and the benefits of the Company’s expected expansion of its product offering. The Company is reiterating a minimum commitment of double-digit adjusted operating income (AOI) margin in 2024, as well as positive industrial free cash flow, despite macroeconomic uncertainties.
Pending shareholder approval, Stellantis proposes to pay a dividend of €1.55 per common share, an increase of approximately 16% compared to the prior year, and an expected calendar for NYSE, Euronext Milan and Euronext Paris to be as follows: (i) ex-date April 22, 2024, (ii) record date April 23, 2024, and (iii) payment date May 3, 2024. Stellantis will also execute a 2024 open-market share buyback program of €3.0 billion, which includes €0.5 billion of shares repurchased to service share-based compensation and employee share purchase, in 2024.
On February 15, 2024 at 2:00 p.m. CET / 8:00 a.m. EST, a live webcast and conference call will be held to present Stellantis’ Full Year 2023 Results. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website at www.Stellantis.com. The presentation material is expected to be posted under the Investors section of the Stellantis corporate website at approximately 7:30 a.m. CET / 1:30 a.m. EST on February 15, 2024.
UPCOMING EVENTS: Annual General Meeting – April 16, 2024; Q1 Shipments & Revenues – April 30, 2024; Investor Day 2024 – June 13, 2024
(1) Adjusted operating income/(loss) excludes from Net profit/(loss) adjustments comprising restructuring and other termination costs, impairments, asset write-offs, disposals of investments and unusual operating income/(expense) that are considered rare or discrete events and are infrequent in nature, as inclusion of such items is not considered to be indicative of the Company’s ongoing operating performance, and also excludes Net financial expenses/(income) and Tax expense/(benefit). Effective from January 1, 2023, our Adjusted operating income/(loss) includes Share of the profit/(loss) of equity method investees. The comparatives for the respective periods for 2022 have been adjusted accordingly. 2) Industrial free cash flows is our key cash flow metric and is calculated as Cash flows from operating activities less: (i) cash flows from operating activities from discontinued operations; (ii) cash flows from operating activities related to financial services, net of eliminations; (iii) investments in property, plant and equipment and intangible assets for industrial activities; (iv) contributions of equity to joint ventures and minor acquisitions of consolidated subsidiaries and equity method and other investments; and adjusted for: (i) net intercompany payments between continuing operations and discontinued operations; (ii) proceeds from disposal of assets and (iii) contributions to defined benefit pension plans, net of tax. The timing of Industrial free cash flows may be affected by the timing of monetization of receivables, factoring and the payment of accounts payables, as well as changes in other components of working capital, which can vary from period to period due to, among other things, cash management initiatives and other factors, some of which may be outside of the Company’s control. (3 Per S&P Global 2023 vehicle registrations (most current data available); PC + light duty trucks. (4) With single-digit percentage compensation of the remaining emissions. (5) Refers to the aggregation of the South America, Middle East & Africa and China and India & Asia Pacific segments for presentation purposes only.
Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%
JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —
Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.
Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South Africa, Chris Maurice, Yellow Card’s co-founder and CEO, said, “The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent.This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.
The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent
Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%. In South Africa alone, where the number of total users of crypto assets is estimated to amount to 5.8 million people, stablecoins have experienced growth of 50% month over month since October 2023, displacing bitcoin as the country’s most popular cryptocurrency. Yellow Card is excited to play a pivotal role in this financial revolution in South Africa.
Yellow Card, which launched in South Africa in 2020, has facilitated over US$3 billion in transactions in the last several years and now operates in 20 countries across the continent. The company recently completed a US$33 million Series C financing, led by Blockchain Capital and existing investors, including Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, and Block, Inc. (Square/Cash App), reflecting strong investor confidence in its mission.
As the stablecoin landscape continues to evolve, Yellow Card is committed to leading the charge in making digital assets accessible and secure for businesses across Africa. With the recent licensing and funding, the company plans to expand its B2B offerings by enhancing its stablecoin rails, upgrading infrastructure, and advancing its B2B API and Widget. These efforts will empower businesses with seamless solutions for liquidity management and their general operations.
MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles
JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —
Both companies extend their collaboration to introduce cloud gaming in South Africa.
MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.
MTN, Africa’s leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.
MTN Cloudplay: A Game Changer
MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.
This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.
Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:
Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month
“We’re thrilled to launch MTN Cloudplay in South Africa. We’re committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month.”
Alí Karaosman, MEA Director of Telecoming says “It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region.”
Service Details
MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.
MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.
Highlights
Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
Bring Your Own License (BYOL): Access games you’ve purchased on Steam, such as Grand Theft Auto V and Fallout 4.
Multi-Device Access: Play on any device and switch seamlessly between them.
Low Latency: Experience responsive gameplay with minimal lag.
The industry’s smartest and most aesthetically pleasing 5G and Wi-Fi 7 router opens new opportunities for service providers globally
JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —
rainx, a leader in 5G Fixed Wireless Access (FWA) solutions, has launched the101 range (https://apo-opa.co/40UwYYE), an advanced ecosystem of fixed wireless 5G and Wi-Fi access products designed to meet the high standards of modern Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs) and their customers.
This lineup includes the101 and the101 Pro 5G smart routers, the101 Xtender smart mesh Wi-Fi extender, and the101 Loop – a new category of product designed for today’s always-connected customer, powered by MediaTek. Together, these solutions redefine 5G FWA, enabling operators to enhance network quality, reduce churn, and drive new revenue streams. The routers also offer a collection of 101 skins to suit the users’ style, creating devices that are designed to be on show.
Targeted to the demands of the modern telco
As demand for 5G-enabled FWA continues to surge, MNOs face complex challenges in scaling network capacity and quality for fixed locations, while managing the concurrent load on mobile networks. Recognising this challenge, rainx has engineered the Customer Edge approach, an integrated ecosystem of products and services designed to empower operators to manage and optimise the customer experience. This begins with the101 range of 5G smart routers, which double as network probes, feeding real-time insights to theStation, a smart managed services platform.
theStation provides operators with deep network insights, enabling accurate, proactive decisions on coverage and capacity expansion. Operators can access detailed data on network performance in the home, including Wi-Fi clients, usage patterns, speed and latency – providing proactive support and direct customer communication through the101’s touch screen. This visibility gives MNOs comprehensive control over the entire FWA ecosystem, helping to streamline network load management, anticipate capacity needs, and deliver high-speed connectivity for both residential and commercial customers.
For end-users, the101 range provides an intuitive, self-service interface that empowers customers to manage their network in real time, minimising support needs and enhancing the overall customer experience.
Key Products in the101 Range include:
the101 Pro 5G smart router
Built for premium, high-demand users, the101 Pro offers advanced 5G capabilities with the new MediaTek (MTK) T830 platform that delivers sub-6Ghz 5G with speeds of up to 7 Gbps, Wi-Fi 7 and 300MHz 4 carrier aggregation. The routers offer a range of customisable skins to suit the users’ aesthetic preferences that bring the Pro’s screen to life. Its powerful hardware ensures optimal performance for bandwidth-intensive applications, including cloud gaming.
Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks
Ripple Messaging™ offers MNOs a direct communication channel to the device’s 2.1” touch screen for real-time support and service notifications. It includes a built-in speed test and a “Tap for Support” feature. Additionally, theStation’s managed services enable proactive device management, optimising performance with real-time updates to ensure continuous service quality and reducing operational costs.
the101 5G Smart Router
rainx’s mid-range offering is powered by an MTK T750 platform with 200MHz two carrier aggregation and AX3600 Wi-Fi 6. With a 1.8” touch screen display, it offers smart features like “Scan to Connect”, direct messaging and a built-in speed test. It’s available with a choice of 101 skins to suit customer tastes. the101 also offers managed services through theStation.
the101 Xtender Smart Mesh Wi-Fi
the101 Xtender broadens 5G coverage, enabling MNOs to deliver high-quality, uniform connectivity throughout larger spaces. As part of the mesh network, Xtenders integrate directly with 101 routers, allowing operators to address Wi-Fi coverage gaps and deliver a consistent, high-speed experience across homes or office spaces.
the101 Loop
A new portable 5G router designed for today’s always-connected consumer. With built-in 5G, a 5.5” LCD touch screen, 25W stereo sound and a cinematic camera, the Loop lets you connect in exciting new ways. MNOs can leverage the Loop’s multimedia capabilities to offer premium services, build customer loyalty and create new ARPU (Average Revenue Per User) opportunities through integrated 5G and Wi-Fi.
“Through smart hardware and services, we’re partnering with MNOs and MVNOs to unlock the potential of 5G,” said Brandon Leigh, Founder and Director of rainx. “Our ecosystem empowers operators to monetise latent 5G capacity, create new revenue streams, and addresses the shift from spiky mobile traffic to high, steady usage at fixed locations. Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks, manage the customer experience and generate ROI from 5G.”
“For customers, the 101range allows them to blend their aesthetic preferences with beautiful customisable skins, alongside high-performance engineering powered by the latest MediaTek CPE technology. the101 range delivers a reliable, high-speed connection that stays robust during periods of spiky traffic. The range also offers intuitive self-service features, allowing customers to easily monitor and control their router, reducing the need for support calls and creating a seamless, hands-on user experience that truly puts the power in their hands,” Leigh concluded.
Rami Osman, Director of Business Development for MediaTek Middle East and Africa, said: “We are excited to collaborate with rainx to increase 5G FWA access across Africa, Asia and abroad to bring the benefits of fast, reliable connectivity to consumers and businesses. The MediaTek T830 has a highly integrated and compact design that provides big power savings and reduces development time and costs for customers like rainx.
“The MediaTek T830 chipset platform represents the latest advancements in both 5G and Wi-Fi connectivity and enables our customers to build extremely high-performance multi-gigabit 5G CPE products in the smallest form factors possible. Users can get a super-fast router at home of office that they can self-install and manage, reducing the lengthy installation times for fixed line broadband,” Osman said.
Distributed by APO Group on behalf of MediaTek Inc..
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