Stellantis posts strong 2020 results despite COVID

(ANSA) - TURIN, MAR 3 - Stellantis, the new group produced by the merger of FCA and PSA, on Wednesday posted strong 2020 results despite the COVID-19 emergency.
    FCA showed an adjusted EBIT of €3.7 billion with 4.3% margin, net profit at breakeven with adjusted net profit of €1.9 billion, and industrial free cash flows positive at €0.6 billion.
    PSA showed 7.1% automotive adjusted operating margin at €3.4 billion, 9.4% H2 automotive adjusted operating margin at a record level , net result group share at €2.2 billion, €2.7 billion automotive free cash flow, and a €13.2 billion automotive net financial position.
    "These figures demonstrate the financial soundness of Stellantis, bringing together two strong and healthy companies.
    Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies," said Carlos Tavares, Stellantis CEO.
    Stellantis shares gained 2.3% in Milan on the results and bright 2021 forecasts.
    Stellantis is the world's fourth biggest carmaker. (ANSA).