After its first full year of operation, Stellantis has posted a stellar set of financial results on the back of post-merger synergies and strong profits in North America.

Net profit for 2021 was €13.4 billion, which Stellantis said was nearly tripled on the previous year’s proforma results. Net revenues were put at €152 billion, up 14%, while adjusted operating income nearly doubled to €18.0 billion, with 11.8% margin and all segments profitable, the firm said.

Stellantis also unveiled ambitious electrification and software plans in the year, with planned investments of more than €30 billion through 2025 and strong partnerships announced in battery technology, battery materials and software development.

Stellantis CEO Carlos Tavares said: “Today’s record results prove that Stellantis is well positioned to deliver strong performance, even in the most uncertain market environments. I warmly thank all Stellantis employees across our regions, brands and functions for their contribution to building our new company powered by its diversity. I take this opportunity to also thank the management team for their relentless efforts as we faced and overcame intense headwinds. Together, we are focused on executing our plans as we race to become a sustainable mobility tech company.”

Stellantis was boosted by particularly strong results in North America. Despite shipments there being down 2%, revenues were up 15% and adjusted operating income was $11.4bn (versus $6.1bn in 2020).