Advertisement

Surprise as Fiat Chrysler net profit falls by forty percent

AFP
AFP - [email protected]
Surprise as Fiat Chrysler net profit falls by forty percent
Photo: Giuseppe Cacace/AFP

Italian-American carmaker Fiat Chrysler Automobiles (FCA) said on Wednesday it made a net profit of €377 million ($410 million) last year, a 40 percent drop from 2014.

Advertisement

The figure was way below the €539 million profit expected by analysts.

But sales, including those of luxury sports car unit Ferrari, raced ahead by 18 percent to €113.2 billion.

The group, which spun off Ferrari on January 4th, expects sales to rise this year from the €110 billion it booked in 2015 excluding Ferrari.

It said it expects operating earnings (adjusted earnings before interest and tax) to rise above €5 billion in 2016 from the €4.79 billion registered in 2015.

Adjusted net profit is seen as rising to €1.9 billion from €1.7 billion in 2015.

FCA shares fell 1.8 percent on the Milan stock exchange, which was down 1.2 percent in midday trading.

More

Comments

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also