Stellantis says it least affected by N.America strikes among Detroit Three
© Reuters. FILE PHOTO: A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. REUTERS/Gonzalo Fuentes/File Photo) said on Tuesday the strikes in North America over pay increases would cost it less than 750 million euros in terms of profitability, after a negative impact on group revenue of around 3 billion euros.
Chief Financial Officer Natalie Knight, who started the job in the summer, said on a media call that the 750 million euro impact on profitability was the smallest among the Detroit Three. Presenting its third-quarter sales results, Stellantis on Tuesday confirmed its forecast for a double-digit margin on adjusted operating profit and positive industrial free cash flow this year.Net revenue at the world's third largest automaker rose 7% in the July-September quarter to 45.1 billion euros, topping the 43.7 billion expected by analysts in a Reuters poll.
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