MILAN, Feb 26 (Reuters) - Stellantis on Thursday reported a net loss of 20.1 billion euros for the second half of 2025, after flagging earlier this month 22.2 billion euros of charges in the period as it scaled back its electric-vehicle ambitions.
Adjusted operating income (AOI) was negative for 1.38 billion euros ($1.63 billion) in the second half of last year. Both the net loss and the AOI figures were within the preliminary estimate ranges that the company had provided earlier this month.
The Jeep-to-Peugeot
maker, whose July-December net revenues rose 10% year-on-year, said it had booked 25.4 billion euros in writedowns last year. This led to 2025 results "reflecting the cost of over-estimating the pace of the energy transition," Chief Executive Antonio Filosa said in a statement.
The writedowns - also caused by vehicle quality problems that Filosa attributed to cost-cutting under former boss Carlos Tavares - include about 6.5 billion euros in cash payments, expected to be spread across four years from 2026.
The company on Thursday reiterated its 2026 forecasts, including a mid-single-digit percentage increase in net revenues and a low-singe-digit adjusted operating margin. It sees industrial free cash flows returning positive only in 2027.
Stellantis confirmed it would not pay a dividend this year.
($1 = 0.8462 euros)
(Reporting by Giulio Piovaccari in Milan and Gilles Guillaume in Paris, editing by Giulia Segreti)
