Despite another record year for Stellantis, Peugeot Invest‘s profits have suffered a sharp decline. The holding company for the French family that owns a stake in the Stellantis group reported a net income of €137 million for 2023, down from €237 million in 2022. The decline in profits is due to the impairment of certain loans and unlisted assets, according to Peugeot Invest.
Stellantis: Peugeot Invest profits fall by €100 million in 2023
Net asset value per share, on the other hand, increased from €199.5 on December 31, 2022 to €238.7 currently. This is mainly due to the increase in the price of Stellantis shares. As a result, there was a 21.1% increase in return on equity. The share price of the automotive Group led by CEO Carlos Tavares grew by almost 60% last year, thanks also to the excellent results achieved.
In 2023, dividends received from Peugeot Invest’s shareholdings rose to €325 million, a net increase compared to €286 million in 2022. The holding company will propose a dividend of €3.5 per share, an increase of 14% compared to the previous year.
Robert Peugeot, Chairman of Peugeot Invest, commented on the news saying that Stellantis’ excellent results have guaranteed his holding company a dividend increase, demonstrating that the merger between Fiat Chrysler Automobiles and PSA Groupe in 2021 was a great idea.
Robert Peugeot also stressed that the long-term performance remains positive, which bodes well for the future. 2024 is expected to be a positive year for the automotive group, thanks above all to the many models coming to market, such as the new generation of Lancia Ypsilon, Alfa Romeo Milano and Peugeot E-5008, among others.