Fiat Chrysler achieves 2014 full-year guidance

Article by Andrew Christian, 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

Login or Create new account to add a comment!

Recommended

Bentley Motors has just released the specs of the new Bentayga Diesel. Obviously, we couldn’t wait to share it here since it’s the first ever diesel model to come out...
by - September 26, 2016
A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016
Just very recently, we were all delighted to finally see a Bugatti Chiron out in the streets casually hanging around Cannes in France. The said car was purchased by a...
by - September 9, 2016
Earlier this year, Aston Martin wowed the world with a stunning concept car – the Vanquish Zagato. The concept made its first appearance in May during the Concorso d’Eleganza Villa...
by - September 7, 2016
Lamborghini has always been known to be the home to exotic supercars. The Italian automaker’s production facilities have hosted uniquely designed and powerful show-stopping supercars. It all started with the...
by - September 5, 2016