Fiat Chrysler logs 7% jump in operating profit for Q3 2014

Article by Christian A., on October 31, 2014

Fiat Chrysler Automobiles posted a 7-percent jump in operating profit in the third quarter of 2014 to EUR926 million ($1.18 billion). The result was lower than the average EUR940 million of eight analysts surveyed by Reuters, no thanks to weaker margins in North America as well as slowdown in Latin America.

The carmaker, however, surpassed analyst expectations for its revenues in the period, growing from EUR20.7 billion a year ago to EUR23.6 billion. At end of September 2014, FCA had a net industrial debt of EUR11.4 billion, compared to EUR9.7 billion at the end of June.

In May this year, Fiat Chrysler chief executive Sergio Marchionne outlined plans to improve the carmaker’s fortunes, calling for EUR55 billion ($76.6 billion) in investments to transform Alfa Romeo, Maserati and Jeep into global brands and more than double its profit in the next five years.

Marchionne, who was instrumental in turning Chrysler around from its bankruptcy, also wants to increase annual deliveries at FCA by 61 percent to 7 million vehicles in 2018, expecting to post earnings before interest and taxes of between EUR8.7 billion to EUR9.8 billion that year.

For this year, FCA reiterated a full-year forecast of a 14-percent rise jump operating profit, excluding one-off items.

If you liked the article, share on:

Comments

Recommended

Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Have you been wondering how much you have to produce to acquire a 2018 Mercedes-Benz S-Class Facelift? Wonder no more, as Mercedes-Benz has already divulged the pricing – at least...
by - May 26, 2017
Following the M3’s new facelift earlier this year, BMW is once again bringing something fresh to the table. In its newest offering, a cheaper version of the high performance sedan...
by - May 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