beat forecasts on Wednesday with a 17 per cent rise in operating profit for the second half of last year, fuelled by savings from its founding merger and price increases that helped offset lingering supply chain problems.
The margin on adjusted EBIT was 12 per cent in the second half, down from 14.1 per cent in the first six months of the year. But the company still met its target for a “double digit” margin last year.“We have a strong set of products, good commercial performance and technology to sustain double digit margin in 2023,” Chief Financial Officer Richard Palmer said.
“This speaks to the fast conversion and execution of the team within Stellantis organization,” Palmer said.
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