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Chief Financial Officer Natalie Knight said the strikes would
cost Stellantis less than 750 million euros ($800 million) in
terms of profitability, after a negative revenue impact of
around 3 billion euros.
The group, which owns brands including Fiat, Peugeot, Jeep and
Ram, confirmed its full year forecast for a double-digit margin
on adjusted operating profit and positive industrial free cash
flow.
"We believe we continue to be in a very strong position globally
and in the U.S.," she said in a media briefing. "We're going to
continue to be very focused on sales and profitability in all
our regions."
Knight, who started the job this summer, said the 750 million
euro hit to profitability would be the smallest among the
Detroit Three.
Ford has said it expects the strikes to reduce its 2023 adjusted
operating profit by about $1.3 billion while GM sees an impact
of no less that $1 billion.
"We're looking at everything in terms of where should we
approach (mitigation actions). And I think you will continue to
hear more about that mitigation as we go forward," Knight said.
Shares in the world's third largest automaker were up 2.2% by
0950 GMT, outperforming Italy's blue-chip index.
The group's inventory more than doubled in the first nine months
of the year with the supply chain situation progressively
normalising, Stellantis said, helping it respond to recent work
stoppages.
Third-quarter revenue rose 7% to 45.1 billion euros on improved
volumes and consistent pricing, partially offset by foreign
exchange rates. It topped the 43.7 billion euros expected by
analysts in a Reuters poll.
($1 = 0.9402 euros)
(Reporting by Giulio Piovaccari and Gilles Guillaume; editing
Jason Neely, Kirsten Donovan)
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