Stellantis (STLAM) investor relations material

Executive summary

• Net revenues rose 13% year-over-year to €43.5 billion in Q2 2026, led by a 32% increase in North America and 6% in South America, while Enlarged Europe was flat and other regions slightly declined.

• Net profit reached €0.3 billion, reversing a loss in Q2 2025, driven by higher volumes and improved operating performance.

• Adjusted operating income (AOI) was €0.8 billion, with a margin of 1.8%, up 120 bps year-over-year; all regions except Enlarged Europe delivered positive AOI margins.

• Industrial free cash flows improved to €1.0 billion, a €1.0 billion increase from Q2 2025, reflecting stronger operations.

• The FASTLAne 2030 strategic plan is underway, with 2026 financial guidance reaffirmed and ongoing focus on product launches, cost reduction, and quality improvement.

Financial highlights

• Net revenues: €43.5 billion in Q2 2026, up from €38.4 billion in Q2 2025 (+13%).

• Net profit: €293 million, compared to a €1.87 billion loss in Q2 2025.

• Adjusted operating income: €773 million, up 263% year-over-year; AOI margin: 1.8%, up 120 bps.

• Industrial free cash flows: €1.0 billion, a €1.0 billion improvement year-over-year.

• Diluted EPS: €0.07, compared to a loss of €0.65 in Q2 2025; adjusted diluted EPS: €0.12.

• Industrial available liquidity: €44.1 billion, 27% of trailing 12-month net revenues.

Outlook and guidance

• 2026 guidance reaffirmed: mid-single digit % increase in net revenues, low-single digit AOI margin, improved industrial free cash flows (including €2B in cash payments related to H2 2025 charges).

• Positive industrial free cash flows expected in 2027.

• H2 2026 performance expected to be weighted toward Q4 due to Q3 production shutdowns and ongoing operational improvements.

• Full-year capital expenditures and R&D spending estimated at 6.5%-7.0% of net revenues, in line with strategic plan.

• Long-term targets: €175B net revenues and 5% AOI margin in 2028; €190B net revenues and 7% AOI margin in 2030.