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Chrysler posts $2 billion operating profit for 2011

by Bill Cawthon on

Chrysler Group full year 2011 net income was $183 million, after 2010’s net loss of $652 million in 2010. The net income came despite a $551 million loss on elimination of debt in Q2 2011.

Fourth quarter net income was $225 million, the highest quarterly net income since the Company began operations in 2009.

Net revenue for the year was $55.0 billion, up 31% from a year ago; fourth quarter net revenue increased 41% to $15.1 billion

Modified Operating Profit grew to $2.0 billion for the year, 2.5 times higher than 2010, and $508 million in the fourth quarter.

Free Cash Flow for full year 2011 totaled $1.9 billion driving Cash at year end 2011 to $9.6 billion compared with $7.3 billion a year ago.

Net industrial debt was reduced by nearly 50 percent to $2.9 billion at December 31, 2011, from $5.8 billion a year ago.

Worldwide vehicle sales for full year 2011 totaled 1,855,000, up 22% from 2010; fourth quarter worldwide vehicle sales were 479,000, up 28% compared with a year ago.

U.S. market share increased to 10.5% for full year 2011, up from 9.2% a year ago, driven primarily by a 43% increase in U.S. retail sales

Worldwide vehicle shipments were 2.0 million for full year 2011, up from 1.6 million a year ago.

“The house is in good order. We are proud of the work we’ve done,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group LLC. “Now we greet a new year of high expectations with our heads down, forging ahead and focused on executing the goals we’ve set for ourselves as a company.”

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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