{"id":108498,"date":"2021-03-03T10:35:36","date_gmt":"2021-03-03T10:35:36","guid":{"rendered":"https:\/\/fin2me.com\/?p=108498"},"modified":"2021-03-03T10:35:36","modified_gmt":"2021-03-03T10:35:36","slug":"stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels\/","title":{"rendered":"Stellantis aims to lift Fiat Chrysler margins towards PSA levels"},"content":{"rendered":"

MILAN (Reuters) – Carmaker Stellantis, created by the merger of Peugeot-maker PSA and Fiat Chrysler (FCA), aims to lift profit margins this year towards the levels attained by its Chief Executive Carlos Tavares at PSA.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

With 14 brands under one roof, including Fiat, Peugeot, Opel, Jeep, Ram and Maserati, the world\u2019s fourth largest carmaker was formed in January.<\/p>\n

The group said on Wednesday it was targeting an adjusted operating profit margin of 5.5%-7.5% this year, assuming no further significant COVID-19 related lockdowns.<\/p>\n

That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.<\/p>\n

Tavares delivered an improvement in margins at PSA by cutting costs, simplifying its model range and delivering synergies on its purchase of Opel\/Vauxhall.<\/p>\n

Milan-listed shares in Stellantis rose as much as 3.3% at the open and were up 2.2% at 0800 GMT.<\/p>\n

\u201cStellantis gets off to a flying start and is fully focused on achieving the full promised synergies,\u201d Tavares said in a statement, announcing last year\u2019s results for FCA and PSA, which the group described as \u201cstrong\u201d.<\/p>\n

Combined adjusted earnings before interest and tax (EBIT) amounted to 7.1 billion euros ($8.6 billion) last year.<\/p>\n

A Milan-based trader said that was \u201cwell above\u201d expectations.<\/p>\n

Stellantis targets over 5 billion euros a year in savings from the merger, without closing any plants. Tavares has also pledged not to cut jobs.<\/p>\n

The automaker proposed to distribute a 1 billion euro dividend to its shareholders.<\/p>\n

A capital markets day for the group is planned for late 2021 or early 2022.<\/p>\n

($1 = 0.8277 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MILAN (Reuters) – Carmaker Stellantis, created by the merger of Peugeot-maker PSA and Fiat Chrysler (FCA), aims to lift profit margins this year towards the […]<\/p>\n","protected":false},"author":3,"featured_media":108497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nStellantis aims to lift Fiat Chrysler margins towards PSA levels - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stellantis aims to lift Fiat Chrysler margins towards PSA levels - Fin2me\" \/>\n<meta property=\"og:description\" content=\"MILAN (Reuters) – Carmaker Stellantis, created by the merger of Peugeot-maker PSA and Fiat Chrysler (FCA), aims to lift profit margins this year towards the [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-03T10:35:36+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/03\/cnewsfotor90-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels\/\",\"url\":\"https:\/\/fin2me.com\/markets\/stellantis-aims-to-lift-fiat-chrysler-margins-towards-psa-levels\/\",\"name\":\"Stellantis aims to lift Fiat Chrysler margins towards PSA levels - 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