Stellantis N.V. (STLA  ) shares are rising in the premarket session on Thursday after the company reported its full-year 2023 earnings results.

The company reported full year 2023 net revenues of €189.5 billion, up 6% year over year, with consolidated shipment volumes increasing 7%.

The company reported adjusted diluted earnings per share of €6.42, up from €5.99. Net profit rose 11% to €18.6 billion, and Industrial free cash flows increased 19% y-o-y to €12.9 billion.

Global BEV sales are up 21% year over year, and LEV sales are up 27% year over year. Adjusted operating income margin fell 60 basis points to 12.8% in 2023.

The company opened its first Circular Economy Hub in Italy, creating a center of excellence aimed at industrializing the recovery and sustainable reuse of materials, and the business realized 18% year-over-year sales growth.

Share Buyback: Stellantis approved a share buyback program of up to €3 billion (total purchase price excluding ancillary costs) to be executed on the market.

The share buyback program will be carried out under the authority granted by the general meeting of shareholders held on April 13, 2023, which may be renewed or extended up to a maximum of 10% of the company's capital.

Dividend: The company proposed a dividend of €1.55 per common share, an increase of approximately 16% compared to the prior year, with payment date of May 3, 2024.

Outlook: To support overall market growth and the electrification push in North America, 18 additional BEVs will be launched in 2024, reaching a total of 48 models by the end of 2024.

The second platform, STLA Large, will launch in 2024 with an 800-kilometer (500-mile) range and is fitted to exceed customer expectations.

SiliconAuto, the 50/50 joint venture with Foxconn, will tailor chips aimed at a new generation of automotive industry vehicle platforms starting in 2026.

Stellantis reiterated a minimum commitment of double-digit adjusted operating income (AOI) margin in 2024, as well as positive industrial free cash flow, despite macroeconomic uncertainties.

To engage employees more closely in the company's success, last year Stellantis launched the "Shares to Win" employee share purchase plan in Italy and France, as a pilot initiative, with a €1,000 matching contribution offered by the company. Stellantis plans to extend this program to 242,000 eligible employees worldwide in 2024, with the same incentive guiding principles.

Price Action: STLA shares are trading higher by 3.40% to $25.22 premarket on the last check Thursday.