Fiat Chrysler opens good 2016: doubles the useful but increasing debt weighs on the title – Il Sole 24 Ore

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This article was published April 26, 2016 at 13:19 hours.
the last change is the April 26, 2016 at 17:57.

Fiat Chrysler opens 2016 with an increase in sales and earnings. The Board of Directors of the Dutch company, which met in London, has approved the accounts for the first quarter seeing a slight increase in revenues (+ 3%) to 26.57 billion euro and an operating profit (EBIT) almost doubled (+ 88%) to 1.3 billion from 696 million in 2015. EBIT “adjusted” (excluding non-recurring items) increased from 700 million to 1.379 billion, with a margin almost doubled from 2.7% to 5.2 %. Net income rose to 478 million from 27 of the same period last year.

The net industrial debt, the main indicator of the financial strength of the group, has risen to the end of March to 6.6 billion EUR 5 billion from the end of December. The increase of 1.5 billion is “mainly due to the negative impact, amounted to 1.3 billion euro, the normal seasonality of working capital, accentuated by the production slowdown in the transition to new models and lower volumes of cars in the United States”. The increase – higher than expected – helped slide the title Fca on the stock exchange announcement of results (-2.6% to EUR 7.03, the worst of the Ftse Mib).

As in previous quarters, the bulk of Fca profits comes from North America: 1.22 billion with a doubling compared to the first quarter of 2015, with help also from the revaluation of the dollar against the euro. Even with a contribution remains limited, also it went well in Europe (profit from 25 million to 96 million, with a margin close to 2%) and an encouraging result also comes from Latin America, with assets of $ 11 million compared to a loss of 65. declining profits in Asia (12 million against 65 of the 12 months prior). More that half the profit for Maserati, 36 to 16 million Euros.

The group confirms the target for the whole of 2016: Net revenues of “over 110 billion”, EBIT adjusted for ‘more than 5 billion, “adjusted net profit” more than 1.9 billion. “debitto industrial profit at year-end,” less than 5 billion “

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