Stellantis (STLAM IM/STLAP FP) Q1 (EUR): Revenue 41.7bln (exp. 43.92bln), -12% Y/Y due to "volume, mix and foreign exchange headwinds, partly offset by firm net pricing"

Shipments -10%, "reflecting production actions and inventory management to prepare for new product wave in H2 2024 compared with strong shipments in Q1 2023 to build inventory following a prolonged period of supply constraints"
Global BEV sales +8%, LEV sales +13% Y/Y
Ordinary FY dividend of 1.55/shr (exp. 1.56/shr) to be paid on May 3rd
EUR 3.0bln buyback is on track for 2024 completion.

Guidance

"...reiterating a minimum commitment of double-digit Adjusted operating income (AOI) margin in 2024, as well as positive Industrial free cash flow, despite macroeconomic uncertainties."