Press release
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FCA and PSA FY2020 Results Presentation
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march 03, 2021 - Stellantis
Full Year 2020 Results for FCA and Groupe PSA | Conference Call and Webcast | Wednesday, March 3, 2021 at 3:30 pm CET / 9:30 am EST
Strong 2020 Results
Further to the creation of #stellantis N.V. through the closing of the cross-border legal merger between Fiat Chrysler Automobiles N.V. (FCA) and Peugeot S.A. (PSA) on January 16, 2021, the following documents are the earnings releases of the legacy operations of #fca and PSA for the year ended December 31, 2020.
“These figures demonstrate the financial soundness of #stellantis, bringing together two strong and healthy companies. #stellantis gets off to a flying start and is fully focused on achieving the full promised synergies.”
- #carlostavares, #stellantis CEO
Pursuant to Sept ‘20 Amendment to Combination Agreement, Board has approved a €1.0B distribution(1) to shareholders, subject to shareholder approval at the AGM on April 15, 2021
2021 Industry Outlook(2): North America +8%, South America +20%, Europe +10%, Middle East & Africa +3%, India & Asia Pacific +3% and China +5%
2021 Guidance(3): Adjusted Operating Income Margin of 5.5 - 7.5%; assumes no significant COVID-19 related lockdowns
Financial Calendar:
Q1 '21 - Sales and Revenues Only - May 5 '21
H1 '21 - Full Financial Results - Aug 3 '21
Q3 '21 - Sales and Revenues Only - Oct 28 '21
These results do not represent the consolidated results of #stellantis N.V.
On March 3, 2021 at 3:30 p.m. CET / 9:30 a.m. EST, a conference call and webcast will be held to present the Fourth Quarter and Full Year 2020 results of #fca and Full Year 2020 results of PSA. The call can be followed live and a recording will be available later on the Group's website (https://www.stellantis.com/en). The supporting documents will be made available on the Group's website prior to the call.
Reference should be made to the section “Safe Harbor Statement” included elsewhere within this document.
*Refer to the #fca sections "Fourth Quarter Reconciliations", "FY 2020 Reconciliations" and "FCA Notes" and the PSA section "Appendix" for definitions of the respective company’s supplemental financial measures and reconciliations to applicable IFRS metrics.
NOTES
(1) The combination agreement, as amended in September 2020, contemplated a potential cash distribution of €1 billion following the completion of the merger. The Board of Directors resolved to propose to the AGM the approval of a special cash distribution of €0.32 per common share corresponding to a total distribution of approximately €1 billion (approximately US$1.2 billion translated at the exchange rate reported by the European Central Bank on February 26, 2021). The distribution will be subject to approval by the AGM, which is scheduled to be held on April 15, 2021. The expected calendar for MTA, Euronext Paris and NYSE is as follows: (i) ex-date April 19, 2021, (ii) record date April 20, 2021, and (iii) payment date April 28, 2021.
(2) Source: IHS Global Insight, Wards, China Passenger Car Association and Group estimates.
(3) Adjusted operating income (loss) excludes from Operating income (loss) adjustments comprising restructuring, 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 Group's ongoing operating performance. Guidance does not reflect impacts from purchase accounting adjustments or changes in accounting policies as required by IFRS in connection with the merger.
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