Fiat Chrysler achieves 2014 full-year guidance

Article by Christian A., on February 4, 2015

Fiat Chrysler Automobiles says it was able to achieve guidance targets in 2014, as strong demand in North America and a recovery in Europe offset drops in Latin America. Now the seventh-largest carmaker in the world, Fiat Chrysler posted EUR3.65 billion ($4.1 billion) in operating profit, adjusted for unusual items.

The carmaker expected an operating profit of between EUR3.6 billion and EUR4 billion while analysts surveyed by Thomson Reuters SmartEstimate provided an average of EUR3.4 billion. Fiat Chrysler logged EUR632 million ($617.4 million) in net profit on the back of EUR96.1 billion ($109 billion) in revenues (+11 percent).

As of December 31, 2014, Fiat Chrysler had a net debt of EUR7.7 billion, up from EUR7 billion at as of end of 2013. In 2014, Fiat Chrysler’s North American operations accounted for more than half of its operating profit and 55 percent of revenues. FCA US posted logged a 16-percent jump in vehicle sales to 2,090,639 units last year in a market that surge 6 percent.

In Europe, meanwhile, Fiat Chrysler is making a rebound and may even post a breakeven at an operating level this year. Fiat Chrysler managed to cut its operating losses in Europe in 2014 from EUR506 million to EUR109 million.

In this context, FCA expects higher revenues at around EUR108 billion and higher operating profit (excluding unusual items) at between EUR4.1 billion and EUR4.5 billion for this year.

This is on the back of global sales of between 4.8 million and 5 million vehicles. This year, the carmaker is seen to hike spending as part of a EUR48 billion expansion plan that foresees a 60-percent hike in global sales to 7 million cars and a five-fold surge in net profit by 2018.

Topics: fiat, chrysler

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries