FCA Q3 net revenues €27.5 billion, up 17%
Staff writer ▼ | October 28, 2015
FCA reported Q3 net revenues of €27.5 billion, up 17% and adjusted EBIT at €1.3 billion, up 35%, driven by strong performance in NAFTA, Ferrari and Components in addition to continued improvement in EMEA.Article continues below
Group recorded one-off after-tax charges of €602 million (excluded from Adjusted EBIT) mainly to adjust reserves to reflect current regulatory and recall environment.
Net industrial debt was reduced to €7.8 billion, down €0.2 billion from prior quarter.
Worldwide shipments were 1.1 million units, in line with Q3 2014. Jeep’s positive performance continued with worldwide shipments up 27%.
Net revenues were €27.5 billion, 17% higher than Q3 2014.
Adjusted EBIT¹ was €1,303 million, up 35% from €968 million in Q3 2014 with NAFTA more than doubling and LATAM returning to profitability despite continuing poor market conditions.
Adjusted net profit² was €303 million, compared to €230 million in Q3 2014 while without adjustments there was a Net loss of €299 million compared to a Net profit of €188 million in Q3 2014.
Net industrial debt was €7.8 billion, down €0.2 billion from June 30, 2015. Liquidity remained strong at €24.9 billion.
The Group confirms its full-year guidance as revised upwards in Q2 and notes that Net industrial debt guidance is adjusted to €6.6 - €7.1 billion (€7.5 - €8.0 billion previously) to reflect transactions completed in connection with the Ferrari IPO. ■
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