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Carmaker Stellantis sees H1 net loss of $2.7 bln hit by restructuring costs
MILAN, July 21 (Reuters) - Stellantis ( opens new tab expects a net loss of 2.3 billion euros ($2.7 billion) for the first half, it said on Monday, after booking around 3.6 billion euros in charges due to restructuring and impairment costs and the initial hit from U.S. tariffs.
The preliminary result, which compares with a 5.6 billion euro net profit a year earlier, underscores the automaker's ongoing struggle and the challenge for new CEO Antonio Filosa, who was appointed in May after poor results in 2024 led to the ousting of former boss Carlos Tavares.
Stellantis said it had taken the unprecedented decision to disclose preliminary financial data for the first half to address the gap between analyst consensus forecasts and the company's performance for the period.
Stellantis put the initial impact from U.S. tariffs at 300 million euros.
It also booked 3.3 billion euros in pre-tax net charges due to program cancellation costs, including one for hydrogen propulsion development, and platform impairments, the net impact of alignment on the emissions regulations in the United States as well as restructuring.
Revenues amounted to 74.3 billion euros, versus 85 billion euros in the first half of 2024 and 71.8 billion in the final part of last year.
Stellantis, which earlier this year suspended its forecast for 2025 results, also said on Monday it burnt through 2.3 billion euros of cash in the first half.
Overall second-quarter shipments fell by 6% compared to last year, to an estimated 1.4 million vehicles, it said in a statement.($1 = 0.8595 euros)
