FCA’s net profit up 69% for Q2

Worldwide
Published:  31 July, 2015

Fiat Chrysler Automobiles has reported solid positive results for the second quarter of 2015.

Worldwide shipments were 1.2 million units, in line with Q2 2014 and reflecting a strong performance in NAFTA and EMEA, partly offset by continued weak market conditions in LATAM.

The group has reported net revenues of €29.2 billion, an increase of €5.9 billion, up 25% compared to the same quarter in 2014. Net profit was €333 million, compared to €197 million in Q2 2014. Adjusted net profit for the quarter was €450 million, compared with €204 million in the previous year.

Adjusted EBIT was €1.525 million, up €557 million from Q2 2014. NAFTA more than doubled its performance from €595 million to €1.327 million, driven by higher volumes, improved net pricing and a positive translation impact, partly offset by increased industrial costs.

Net revenues for LATAM were €1.851 million, down 15% primarily due to reduced shipments. Market share in Brazil was down 19% due to strong competition and pricing pressures.

Net revenues for Ferrari were up 5% to €766 million, reflecting an increase of €37 million from Q2 2014, mainly driven by higher volumes and favourable product mix. Adjusted EBIT was €124 million, compared with €105 million in Q2 2014.

As for Maserati, net revenues totalled €610 million, down 17% from Q2 2014, primarily due to decreased volumes resulting from weaker demand in China and unfavourable product mix. Adjusted EBIT decreased from €61 million to €43 million for the same quarter.

FCA has revised upwards its full-year guidance.

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