26 April 2018

FCA: 2018 First Quarter Results

 

FCA reports record first quarter: Adjusted EBIT up 5% at €1.6 billion, margin up 50 bps to 6.0%, Adjusted Net Profit and Net Profit up 55% and 59%, respectively, to €1.0 billion. Net Industrial Debt reduced by €1.1 billion to €1.3 billion. Full-year guidance is confirmed.

 

  • Worldwide combined shipments(1) of 1,204 thousand units, up 5%, primarily due to growth in NAFTA and LATAM and worldwide Jeep shipments up 37%

  • Net revenues of €27.0 billion, down 2% due to negative foreign exchange translation (up 9% at constant exchange rates, or CER)

  • Adjusted EBIT of €1,611 million, up 19% at CER, with Group margin improved 50 bps at 6.0%

  • Adjusted net profit of €1,038 million, up 55% (up 78% at CER); Net profit of €1,021 million, up 59% (up 83% at CER), with lower financial charges and income tax expense

  • Net industrial debt of €1.3 billion, reduced by €1.1 billion from year-end 2017

  • All-new Ram 1500 launched at Sterling Heights Assembly Plant (Michigan), completing the initial phase of the NAFTA capacity realignment plan

  • S&P raised FCA's credit rating to "BB+" and affirmed FCA's outlook as positive, Moody's raised FCA's credit rating to "Ba2"

  • FCA Board of Directors authorized management to develop and implement a plan to spin off the Magneti Marelli business 

 

Here the full text of the Press Release

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