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

Just a month ago, Wolfgang Durheimer, the former president of Bugatti, was removed from the company so he could replace Stephan Winkelmann, former Lamborghini CEO and Audi Sport boss as...
by - September 23, 2017
BMW will be launching a new Competition Package especially for the M5’s 2018 model year. While in Frankfurt, Andy Cook, BMW’s product exec has talked with Motor 1 regarding some...
by - September 22, 2017
BMW’s pure M and M-performance are currently being offered with six- and eight-cylinder turbocharged engines. But while German premium rival Mercedes-Benz offers – through its AMG division – a line...
by - September 22, 2017
In a recent report by Automotive News, we learned that FCA is no longer pursuing its original plans in using Alfa Romeo’s Giorgio architecture on both the Dodge Charger and...
by - September 22, 2017
Volvo Cars is proving that it is serious in its intention to grab a good piece of the global market for premium sports utility vehicles. While its XC60 and the...
by - September 22, 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