Stellantis Employees Getting €2 Billion In Profit-Sharing Bonus
To say 2022 was a good year for Stellantis would be quite an understatement as the automotive conglomerate achieved record results despite a challenging environment. Net revenues jumped by 18 percent to €179.6 billion while the net profit was up by an impressive 26 percent to €16.8 billion. Employees will get a slice of the earnings as the company announced today plans to distribute in excess of €2 billion in profit-sharing and variable bonuses.
It’s the highest profit-sharing bonus ever offered by the company, surpassing last year’s amount by a considerable €200 million. Stellantis, which operates no fewer than 16 brands across the world, will also distribute €4.2 billion in dividends, which equates to €1.34 per share. The financial numbers certainly look healthy, including available liquidity of €61.3 billion. By the end of the year, the company will launch a share buyback program worth up to €1.5 billion.
As to what Stellantis has planned for 2023, it intends to launch a fully electric Ram ProMaster and eight other EVs to join the existing 23 models that do away with a combustion engine. By late next year, the electric lineup will encompass 47 vehicles, with the number to grow to over 75 by the end of the decade.
Meanwhile, the automotive giant resulting from the merger between PSA Peugeot Citroën and Fiat Chrysler Automobiles (FCA) is happy to report it is first in EU30 commercial vehicles BEV sales and second in EU30 for overall BEV sales. At the same time, it’s #1 in the United States for plug-in hybrid sales.
Speaking about the record profit-sharing bonus, Stellantis CEO Carlos Tavares said: “It is a fair recognition of the contribution of all Stellantis employees to make Stellantis win in a very demanding economic context. When the company does well, all employees do well – that’s what our pay-for-performance culture is all about.”