Recommendations International Stock Exchanges The margins of Stellantis will continue to suffer: Vender, P. O. from 12,4 to 10,2 eur/acc

Bankinter Market Consensus The figures of 2024 show a weak and worse evolution than estimated. The EBIT margin recedes up to 2.4% (vs. 11.8% in 2023), the profit falls -70% a/a and the cash generation in the industrial business is negative (- 6,045M€ vs. -5,000M€/-10,000M€ target). Following these figures we review our estimates downwards, especially on the side of the margins. 2025 will continue to be a difficult year for the company while con…