Stellantis (NYSE:STLA) posted a massive €22.3 billion net loss for the full year 2025, driven by a sweeping €25.4 billion wave of unusual charges as the automaker executes a costly and aggressive strategic reset.
Reflecting the heavy financial toll of its turnaround efforts, the company’s board has suspended the 2026 dividend and authorized up to €5 billion of hybrid debt issuance to shore up its balance sheet and protect liquidity.
The automaker’s net revenues for the year slipped 2% year-over-year to €153.5 billion.
Its adjusted operating loss landed at €842 million, translating to a negative margin of 0.5%.
Industrial free cash flow remained in the red but showed signs of structural improvement, ending the year at negative €4.5 billion.
Despite the staggering annual deficit, the second half of 2025 offered concrete signs of stabilization for the embattled manufacturer.
Stellantis reported a return to top-line growth during the latter six months of the year, with revenue climbing 10% alongside an 11% increase in consolidated shipments.
The late-year volume recovery suggests that drastic inventory corrections and commercial realignments undertaken earlier in the year are beginning to gain traction in the market.
Looking ahead, management remains focused on executing the remainder of its transition.
For 2026, Stellantis is guiding for mid-single-digit revenue growth and a return to profitability, forecasting a low-single-digit adjusted operating income margin.
The company also expects further, steady improvement in its industrial free cash flow as it moves past the bulk of its restructuring costs and capitalizes on its revitalized product lineup.