Stellantis has reported an “outstanding” 9.5ppt year-on-year improvement in operating income margin, to 11.4%, in the first half of 2021.

The car manufacturing giant – the result of a merger between the PSA Group and FCA Group officially completed at the start of this year – revealed the result in pro forma financial results published this morning (August 3).

Its improved margins came as revenues rose 270.2% to £72.61 billion (H1 2020: £19.61bn) and net profits rose from £797m to £5.8bn.

The improved performance prompted an upgraded full-year outlook featuring a forecasted adjusted operating income margin of 10%, Although a statement said the projection “assumes no further deterioration of semiconductor supply and no further significant lockdowns in Europe and US”.

In a statement issued alongside the H1 trading statement, Stellantis chief executive Carlos Tavares said: “I would like to thank warmly all Stellantis employees for their outstanding focus on operational excellence and synergies execution that have led the company to achieve very strong H1 financial results.