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

South Korean carmaker Kia will try to follow up the success of its Sportage compact sports utility vehicle by introducing a smaller SUV (subcompact) in the United Kingdom in the...
by - October 18, 2017
It can no longer be denied that Jaguar Land Rover wants to design some more hardcore type versions of their SUV range --- soon after launching the Discovery SVX only...
by - October 18, 2017
Motorists in the United Kingdom who intend to purchase the new 2018 Hyundai Kona subcompact sports utility vehicle could start placing their orders on November 2, 2017. Marked by Hyundai...
by - October 18, 2017
For many years, Lamborghini has always relied on the use of large and powerful engines including the V10 and the V12. In fact, the company’s very first engine in the...
by - October 17, 2017
You can now get the Opel Crossland X that’s LPG-powered if you are not a fan of diesel. Recently, the company released their version of the Peugeot 2008 equipped with...
by - October 17, 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