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Where FCA made and lost money (corrected)

by David Zatz on

In FCA’s annual presentation to investors, the company showed where it had revenues (listed below as “earnings before interest and taxes,” or EBIT) — and where it lost money.

There were large profits in North America ($2.5 billion), with smaller profits in Europe/Middle East/Africa (EMEA, $277 million). The  Components group (mainly parts, factory equipment) brought in $120 million, and Ferrari added $75 million.

FCA: Fiat-Chrysler Automobiles

Losses were in Latin America ($410 million), Asia-Pacific ($534 million), Maserati ($186 million), and “other,” which includes exclusions and one-time charges ($184 million).

The company expects to see sales in North America staying roughly the same for 2016, across the board. There may be small gains in North America, Asia-Pacific, and EMEA, and a decrease of up to around 10% in Latin America. Still, FCA expects that 2016 EBIT should be similar to 2015, cutting out Ferrari’s contribution from this past year.

“MJAB” pointed out that the adjusted EBIT should also be mentioned. Some adjustments include the NHTSA consent order and amendment, cutting $157 million from North American revenues; currency devaluations, resulting in $178 million of losses from Latin America; $155 million from the Tianjin port explosion; and $911 million to swap products between factories in North America.

Total shipments were roughly stable, with around 2,000 more cars sold. In Asia-Pacific, sales plunged by 32% for Jeep, 38% for Dodge, and 39% for Fiat — 54% in the fourth quarter partly due to the port explosion in Tianjin, China.

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