STEP 1-CNH Industrial, slight decline in revenues and margins in 2014, sees 2015 … – Reuters Italy

STEP 1-CNH Industrial, slight decline in revenues and margins in 2014, sees 2015 … – Reuters Italy

(rewrites adding statements Tobin)

MILAN, January 29 (Reuters ) – CNH Industrial closed 2014 with results slightly below analysts’ expectations, but below forecasts of the business plan and sees a weak 2015, mainly due to the agricultural machinery sector.

The company has revised downwards its forecast on the market of the combine, which went from a decline of 10-15% to a decrease of 15-20% globally, with all areas penalized except the EMEA.

It improves slightly the field instead of heavy vehicles, thanks to Europe and Latin America, where the markets are expected to be stable at + 5%.

For 2015 the group expects net revenues from industrial activities at 28 billion dollars, margin from 6.1 to 6.4%.

The business plan indicated net revenues of 32.1 billion in 2014 and 35.6 billion in 2016; operating margin to 6.5 to 6.9% in 2014 and 7.9% -8.3% in 2016.

In addition, the 2015 objectives are considered reachable “unless further deterioration of exchange outside the United States than the current level of exchange rates,” the statement said.

And in any case CNH is not “thinking no options to strengthen the organic and heritage financial position, “said Richard Tobin, in a conference call with analysts, explicitly excluding disposals.

The coupon remains constant at 20 euro cents. More …