UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 6-K
_______________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2022
Commission File No. 001-36675
_______________________________
STELLANTIS N.V.
(Translation of Registrant’s Name Into English)
_______________________________
Taurusavenue 1
2132 LS Hoofddorp
The Netherlands
Tel. No.: +31 23 700 1511
(Address of Principal Executive Offices)
_______________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): o
The following exhibit is furnished herewith:
Exhibit 99.1 Stellantis N.V. Supplemental Information for the year ended December 31, 2021
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 4, 2022 | STELLANTIS N.V. | ||||||||||
By: | /s/ Richard K. Palmer | ||||||||||
Name: Richard K. Palmer | |||||||||||
Title: Chief Financial Officer | |||||||||||
Index of Exhibits
Exhibit
Number Description of Exhibit
99.1 Stellantis N.V. Supplemental Information for the year ended December 31, 2021
Exhibit 99.1
Income Statement by activity
Unaudited
For the year ended December 31, 2021(1) | ||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | |||||||||||||||||
Net revenues | 149,419 | 149,273 | 292 | |||||||||||||||||
Cost of revenues | 119,943 | 119,903 | 186 | |||||||||||||||||
Selling, general and other costs | 9,130 | 9,082 | 48 | |||||||||||||||||
Research and development costs | 4,487 | 4,487 | — | |||||||||||||||||
Gains/(losses) on disposal of investments | (35) | 8 | (43) | |||||||||||||||||
Restructuring costs | 698 | 698 | — | |||||||||||||||||
| Operating income | 15,126 | 15,111 | 15 | |||||||||||||||||
Net financial expenses | 734 | 734 | — | |||||||||||||||||
Profit before taxes | 14,392 | 14,377 | 15 | |||||||||||||||||
Tax expense | 1,911 | 1,891 | 20 | |||||||||||||||||
| Share of profit of equity method investees | 737 | 84 | 653 | |||||||||||||||||
Net profit from continuing operations | 13,218 | 12,570 | 648 | |||||||||||||||||
Profit from discontinued operations, net of tax | 990 | 990 | — | |||||||||||||||||
Net profit | 14,208 | 13,560 | 648 | |||||||||||||||||
Pro Forma Adjusted operating income(2) | 18,011 | 17,923 | 88 | |||||||||||||||||
______________________________________________________________________________________________________________________________________________
(1) On January 16, 2021, Peugeot S.A. (“PSA”) merged with and into Fiat Chrysler Automobiles N.V. (“FCA N.V.”), with FCA N.V. as the surviving company in the merger (the “merger”). On January 17, 2021, the current members of the board of directors were appointed, the Stellantis articles of
association became effective, and the combined company was renamed Stellantis N.V. On this date, the Stellantis management and board of directors collectively obtained the power and ability to control the assets, liabilities and operations of both FCA and PSA. As such, under IFRS 3, Business Combinations, January 17, 2021 is the acquisition date for the business combination. PSA was determined to be the acquirer for accounting purposes, therefore, the historical financial statements of Stellantis represent the continuing operations of PSA, which also reflect the loss of control and the classification of Faurecia S.E. (Faurecia) as a discontinued operation as of January 1, 2021. As the acquisition date of business combination was January 17, 2021, the results of FCA for the period January 1 -16, 2021 are excluded from the results for the year ended December 31, 2021. The 2020 Financial Statements included in the Stellantis N.V. Annual Report and Form 20-F for the year ended December 31, 2021 represents results of PSA only and therefore have not been included in this Supplemental Information as they are not comparable.
(2) The reconciliation of Net profit from continuing operations to Pro Forma Adjusted operating income for the Company is included in the Stellantis Annual Report and Form 20-F for the year ended December 31, 2021 - Management discussion and analysis - Company results.
Statement of Financial Position by activity
Unaudited
| At December 31, 2021 | ||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | |||||||||||||||||
| Assets | ||||||||||||||||||||
| Goodwill and intangible assets with indefinite useful lives | 29,921 | 29,802 | 119 | |||||||||||||||||
Other intangible assets | 16,635 | 16,542 | 93 | |||||||||||||||||
Property, plant and equipment | 35,488 | 35,443 | 45 | |||||||||||||||||
Investments | 6,022 | 7,847 | 4,591 | |||||||||||||||||
Deferred tax assets | 1,927 | 1,893 | 34 | |||||||||||||||||
Inventories | 11,361 | 11,342 | 19 | |||||||||||||||||
| Assets sold with a buy-back commitment | 2,134 | 2,134 | — | |||||||||||||||||
| Trade receivables | 2,998 | 3,049 | 51 | |||||||||||||||||
| Tax receivables | 390 | 383 | 7 | |||||||||||||||||
| Other assets and prepaid expenses | 12,628 | 9,797 | 3,752 | |||||||||||||||||
| Financial assets | 2,510 | 2,409 | 152 | |||||||||||||||||
| Cash and cash equivalents | 49,629 | 48,616 | 1,013 | |||||||||||||||||
| Assets held for sale | 123 | 123 | — | |||||||||||||||||
TOTAL ASSETS | 171,766 | 169,380 | 9,876 | |||||||||||||||||
| Equity and Liabilities | ||||||||||||||||||||
| Equity | 56,307 | 56,307 | 6,417 | |||||||||||||||||
| Employee benefits liabilities | 8,749 | 8,748 | 1 | |||||||||||||||||
| Provisions | 17,179 | 17,085 | 96 | |||||||||||||||||
| Deferred tax liabilities | 4,374 | 4,368 | 5 | |||||||||||||||||
| Debt | 33,582 | 31,533 | 3,018 | |||||||||||||||||
| Trade payables | 28,181 | 28,177 | 70 | |||||||||||||||||
| Other financial liabilities | 95 | 95 | — | |||||||||||||||||
| Tax liabilities | 1,113 | 1,086 | 35 | |||||||||||||||||
| Other liabilities | 22,135 | 21,930 | 234 | |||||||||||||||||
| Liabilities held for sale | 51 | 51 | — | |||||||||||||||||
TOTAL EQUITY AND LIABILITIES | 171,766 | 169,380 | 9,876 | |||||||||||||||||
Statement of Cash Flows by activity
Unaudited
| For the year ended December 31, 2021 | ||||||||||||||||||||
| (€ million) | Stellantis | Industrial activities | Financial services | |||||||||||||||||
| Consolidated profit from continuing operations | 13,218 | 12,570 | 648 | |||||||||||||||||
Adjustments for non-cash items | ||||||||||||||||||||
| depreciation and amortization | 5,871 | 5,854 | 17 | |||||||||||||||||
| other non-cash movements | 77 | 74 | 3 | |||||||||||||||||
| provisions | (1,152) | (1,160) | 8 | |||||||||||||||||
| change in deferred taxes | (654) | (653) | (1) | |||||||||||||||||
| (gains) losses on disposals and other | (121) | (164) | 43 | |||||||||||||||||
| Dividends received from, net of share in net results | (185) | 280 | (359) | |||||||||||||||||
| Fair value remeasurement of cash flow hedges | 22 | 22 | — | |||||||||||||||||
| Change in carrying amount of leased vehicles | 358 | 381 | (23) | |||||||||||||||||
Change in working capital | 1,212 | 1,166 | 46 | |||||||||||||||||
| Net cash from (used in) operating activities of discontinued operations | — | — | — | |||||||||||||||||
Net cash from operating activities(1) | 18,646 | 18,370 | 382 | |||||||||||||||||
| Proceeds from disposals of shares in consolidated companies and of investments in non-consolidated companies | 161 | 64 | 97 | |||||||||||||||||
| Acquisitions of consolidated subsidiaries and equity method investments | (726) | (811) | 85 | |||||||||||||||||
| Cash and cash equivalents of FCA at the Merger | 22,514 | 22,185 | 329 | |||||||||||||||||
| Proceeds from disposals of tangible and intangible assets | 295 | 295 | — | |||||||||||||||||
| Investments in property, plant and equipment and intangible assets | (8,687) | (8,656) | (31) | |||||||||||||||||
| Change in amounts payable on property, plant and equipment and intangible assets | (1,426) | (1,426) | — | |||||||||||||||||
| Net change in receivables from financing activities | (306) | 34 | (340) | |||||||||||||||||
| Other changes | (36) | (32) | (13) | |||||||||||||||||
| Net cash from used in investing activities of discontinued operations | (3,115) | (3,115) | — | |||||||||||||||||
| Net cash from investing activities | 8,674 | 8,538 | 127 | |||||||||||||||||
| Distributions paid | (4,204) | (4,204) | (106) | |||||||||||||||||
| Proceeds from issuance of shares | 243 | 243 | — | |||||||||||||||||
| (Purchases) sales of treasury shares | — | — | — | |||||||||||||||||
| Changes in debt and other financial assets and liabilities | 3,260 | 3,302 | (59) | |||||||||||||||||
| Change in securities | (610) | (641) | 28 | |||||||||||||||||
| Other changes | (55) | (24) | (2) | |||||||||||||||||
| Net cash from (used in) financing activities of discontinued operations | — | — | — | |||||||||||||||||
| Net cash used in financing activities | (1,366) | (1,324) | (139) | |||||||||||||||||
| Effect of changes in exchange rates | 764 | 713 | 51 | |||||||||||||||||
| Increase (decrease) in cash from held for sale | 18 | 18 | — | |||||||||||||||||
| Increase (decrease) in cash | 26,736 | 26,315 | 421 | |||||||||||||||||
| Net cash and cash equivalents at beginning of period | 22,893 | 22,301 | 592 | |||||||||||||||||
| NET CASH AND CASH EQUIVALENTS AT END OF PERIOD | 49,629 | 48,616 | 1,013 | |||||||||||||||||
____________________________________________________________________________________________________
(1) The reconciliation of Cash flows from operating activities to Industrial free cash flows for the year ended December 31, 2021, included in the Stellantis N.V. Annual Report and Form 20-F as of and for the year ended December 31, 2021 includes Cash flows from Operating activities not attributable to industrial activities of €276 million, which is comprised of €382 million of Net cash from operating activities for Financial Services less Distributions paid of €106 million from Financial Services to Industrial activities.