In H1-24, NAV per share came to €226.7 vs. €238.7 at the end of 2023, showing a decline of 3.7% dividend attached. This is mainly attributable to the fall in Stellantis’ share price, which reported a sharp decline in the first half of the year.`
In Europe, the automotive industry is suffering from Chinese competition, weak demand and pressure on prices. This recently prompted BMW and VW to revise their annual outlooks downwards. Against this backdrop, Stellantis shares have lost over 50% since their March highs.
In H1, PEUG carried out several disposals, generating €437m in income. The group received €369m in dividends, including €347.6m for Stellantis. Net debt fell significantly to €374m, giving an LTV of 6%. PEUG has nearly €1bn in undrawn credit lines.