Stellantis (1K) | Hold | An ambitious new plan (FaSTLAne 2030)

Research evidence excerpt

Stellantis (1K) | Hold | An ambitious new plan (FaSTLAne 2030)

#EstimatesRevision

Release date: 22 May 2026

Company research

Hold Stellantis

Italy | Autos & parts Beta Profile: MCap: EUR18.3bn

Target Price: EUR7.00 Change in TP: none Bloomberg: STLAM IM Reuters: STLAM.MI

Current Price: EUR6.31 Change in Sales: none 26E/none 27E Free float 67.7%

Avg. daily volume (EURm) 457.0 Up/downside: 11.0% Change in Adj EBIT: none 26E/none 27E

YTD abs performance -33.3%

Market data: 21 May 2026 Change in Adj. EPS: none 26E/none 27E

52-week high/low (EUR) 10.41/5.53

An ambitious new plan (FaSTLAne 2030) Price performance

Why this report?

Stellantis unveiled its FaSTLAne 2030 plan yesterday during its US CMD. 11

Several partnerships (Leapmotors, Dongfeng, Tata, JLR) had been disclosed 10

over the last few weeks, aimed at improving scale and capacity utilisation. 9

New financial targets for 2030 include EUR190bn revenues and EUR13.3bn 8

AOI (7% margin), well ahead of consensus (c. EUR180bn revenues and 7

EUR8.5-9bn AOI). Stellantis aims for EUR6bn IFCF and EUR15bn net industrial 6

cash position by 2030. We note that the new 2030 AOI aspiration only 5

May 25 Nov 25 May 26

represents 37% of the previous plan’s target (Dare Forward) and 52% of the

2023 record figure achieved by the group despite ambitious revenue growth Price Stoxx Europe 600 (rebased)

and cost reduction targets. 2028 financial goals are also ahead.

Key findings

▪Stellantis shares reacted negatively to the morning presentations of its new 2030 FY to 31/12 (EUR) 12/25 12/26E 12/27E

strategic plan, FaSTLAne 2030, yesterday, but the US line closed modestly up. Sales (m) 153,508 153,860 159,875

▪The detailed financial release and presentation came out after the European EBITDA adj (m) 6,139 9,350 12,150