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FCA: more profits

by David Zatz on

FCA’s first quarter was kind, according to the company’s latest statement: net revenues rose by 4% to $30 billion, with an adjusted earnings before interest and taxes of $1.6 billion (up 11%). The net profit was around $700 million; the adjusted net profit, around $730 million.

Margins were fairly high, with an 11% profit margin at Maserati due partly to the new Levante crossover. The margin in North America was a healthy 7%; in Europe, Asia, and the Middle East, 3%.

FCA sold around 1,145,000 vehicles, up by 1%, worldwide. Every part of the world improved other than Latin America, with European earnings helped by the success of the Tipo and new Alfa Romeos. American earnings rose despite the loss of the Dart and 200, and pricier vehicles displaced cheaper ones in the sales charts.

FCA affirmed its full year guidance, believing its adjusted net profit will be $3.3 billion and its net industrial debt will fall to $2.7 billion from its current $5.6 billion.  (Euros to dollars conversion as of 4-26-2017, 9:30 am, EST). 

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