Jul 25, 2024 / 12:00PM GMT
Carlos Tavares - Stellantis NV - CEO & Executive Director
Good morning, and good afternoon to all of you. Welcome to this 2024 H1 Stellantis financial results announcement session. We perfectly recognize that you are highly busy people, and therefore value your time. Thank you for attending and thank you for your interest in Stellantis. So let's get started.
It is an understatement to say that H1 2024 results were disappointing and humbling. It represents a perfect convergence of several headwinds that I will describe to you in a very transitional period that opens the road for a product blitz of 20 new products. This is a bump on the road that we are now fixing and that we are going to fight against to make sure that we can rebound from here and that we fix the operational issues that we face.
So what happened in H1 is a convergence of three major factors that I would like to share with you. Number one, we were in a dynamic of R&D, CapEx, and M&A expenses that proved to be too high, and we are now fixing that. That's point number one.
Point number two, we faced
Half Year 2024 Stellantis NV Earnings Call Transcript
Jul 25, 2024
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