LONDON, July 27, 2016 /PRNewswire/ --
- Worldwide consolidated shipments of 1,175 thousand units, down
1% driven by APAC due to transition to local Jeep production in
China. Worldwide combined
shipments (including JVs) were 1,233 thousand units, up 1%, LATAM
reduction more than offset by EMEA increase
- Net revenues of €27.9 billion, down 2% (+1% at constant
exchange rates, or CER)
- Adjusted EBIT increased 16% to €1,628 million, with EMEA more
than doubled and improved margins for all regions and Components.
EBIT decreased 14% to €1,060 million primarily due to charges for
Takata airbag inflator recalls of €414 million
- Net industrial debt reduced by €1.1 billion from March 2016 due to strong cash generation from
operations
- Market share in U.S. increased to 12.7%, up 30 bps, and in
Europe to 6.8%, up 40 bps;
remained market leader in Brazil
with 17.8% market share
- Worldwide Jeep sales up 16% with increases in all regions
- Moody's Investors Service raised FCA's corporate credit rating
to "Ba3" from "B1" and rating on bonds issued or guaranteed by FCA
from "B2" to "B1" with "Stable" outlook
|
FIAT CHRYSLER AUTOMOBILES - Financial
Results
|
|
Six months ended June
30
|
|
|
|
Three months ended June
30
|
|
|
2016
|
|
2015
(1)
|
|
Change
|
|
(€ million, except as otherwise
noted)
|
2016
|
|
2015
(1)
|
Change
|
|
2,261
|
|
2,284
|
|
(23)
|
|
(1)%
|
|
Shipments (thousands of
units)
|
1,175
|
|
1,191
|
(16)
|
|
(1)%
|
|
54,463
|
|
54,383
|
|
80
|
|
—
|
|
Net
revenues
|
27,893
|
|
28,540
|
(647)
|
|
(2)%
|
|
2,367
|
|
1,922
|
|
445
|
|
+23%
|
|
EBIT
|
1,060
|
|
1,226
|
(166)
|
|
(14)%
|
|
3,007
|
|
2,101
|
|
906
|
|
+43%
|
|
Adjusted EBIT
(2)
|
1,628
|
|
1,401
|
227
|
|
+16%
|
|
799
|
|
284
|
|
515
|
|
+181%
|
|
Net
profit
|
321
|
|
257
|
64
|
|
+25%
|
|
1,237
|
|
403
|
|
834
|
|
+207%
|
|
Adjusted net profit
(2)
|
709
|
|
372
|
337
|
|
+91%
|
|
0.502
|
|
0.180
|
|
0.322
|
|
+179%
|
|
Diluted earnings per share (EPS)
(€)
|
0.199
|
|
0.167
|
0.032
|
|
+19%
|
|
0.783
|
|
0.259
|
|
0.524
|
|
+202%
|
|
Adjusted diluted EPS (2)
(€)
|
0.448
|
|
0.243
|
0.205
|
|
+84%
|
|
5,474
|
|
5,049
(4)
|
|
425
|
|
|
|
Net industrial debt
(2)
|
5,474
|
|
6,593
(3)
|
(1,119)
|
|
|
|
25,374
|
|
27,786
(4)
|
|
(2,412)
|
|
|
|
Debt
|
25,374
|
|
26,555
(3)
|
(1,181)
|
|
|
|
24,748
|
|
24,557
(4)
|
|
191
|
|
|
|
Available
liquidity
|
24,748
|
|
24,296
(3)
|
452
|
|
|
|
ADJUSTED
EBIT
|
|
NET
PROFIT
|
|
- Continued strong performance in NAFTA, EMEA and
Components
- NAFTA margin up 20 bps to 7.9%, EMEA more than
doubled to 2.5%
- LATAM improved to break-even despite continued
difficult market conditions
- Strong sequential improvement in Maserati Adjusted
EBIT margin from 3.1% in Q1 2016 to 6.2%
|
- Increase driven by strong operating performance in
NAFTA, EMEA and Components, as well as improvement in LATAM,
partially offset by charges for Takata airbag inflator
recalls
- Net
financial expenses down €128 million to €491 million driven by
gross debt reduction and refinancing at lower
rates
- Tax
expense down €102 million to €248 million primarily due to tax
effect of charges related to Takata airbag inflator
recalls
|
|
|
|
|
|
|
|
NET INDUSTRIAL
DEBT
|
|
2016
GUIDANCE
|
|
- Decrease from March 2016 primarily driven by €1.8
billion of positive cash flows from operating activities, net of
capital expenditures of €2.1 billion in the quarter, despite
unfavorable foreign exchange (FX) translation effects of €0.5
billion
|
The Group raises full-year guidance due to
strong H1 operating
performance:
|
|
- Net
revenues raised to > €112 billion from > €110
billion
- Adjusted EBIT raised to > €5.5 billion from >
€5.0 billion
- Adjusted net profit raised to > €2.0 billion from
> €1.9 billion
- Net
industrial debt < €5.0 billion is confirmed
|
|
|
|
|
|
(1) The Group's results for the three and six months ended
June 30, 2015 have been re-presented
to exclude Ferrari, consistent with Ferrari's classification as a
discontinued operation for the year ended December 31, 2015; refer to page 8 for a
reconciliation of these results to amounts previously reported (2)
Refer to page 7 for reconciliations of Adjusted EBIT to EBIT,
Adjusted net profit to Net profit, Adjusted diluted EPS to Diluted
EPS and page 8 for a reconciliation of Net industrial debt to Debt;
(3) At March 31, 2016; (4) At
December 31, 2015
Results by segment
|
Net revenues and Adjusted EBIT by
segment
|
|
Net
revenues
|
|
|
Adjusted
EBIT
|
|
Three months ended June
30
|
|
|
Three months ended June
30
|
|
2016
|
|
2015
|
|
|
(€
million)
|
2016
|
|
2015
|
|
|
17,479
|
|
17,186
|
|
|
NAFTA
|
1,374
|
|
1,327
|
|
|
1,469
|
|
1,851
|
|
|
LATAM
|
—
|
|
(79)
|
|
|
957
|
|
1,523
|
|
|
APAC
|
42
|
|
47
|
|
|
5,770
|
|
5,470
|
|
|
EMEA
|
143
|
|
57
|
|
|
579
|
|
610
|
|
|
Maserati
|
36
|
|
43
|
|
|
2,430
|
|
2,549
|
|
|
Components
|
111
|
|
96
|
|
|
(791)
|
|
(649)
|
|
|
Other activities, unallocated items and
adjustments
|
(78)
|
|
(90)
|
|
|
27,893
|
|
28,540
|
|
|
Total
|
1,628
|
|
1,401
|
|
|
NAFTA
|
Three months ended June
30
|
|
Change
|
|
2016
|
|
2015
|
|
|
Actual
|
CER
|
|
Shipments (thousands of
units)
|
666
|
|
677
|
|
|
(2)%
|
|
|
Net revenues (€
million)
|
17,479
|
|
17,186
|
|
|
+2%
|
+4%
|
|
Adjusted EBIT (€
million)
|
1,374
|
|
1,327
|
|
|
+4%
|
+5%
|
|
Adjusted EBIT
margin
|
7.9%
|
|
7.7%
|
|
|
+
20
bps
|
|
|
|
Further improvement in margin to 7.9%. U.S. market
share up 30 bps (*) and continued as market leader in
Canada
|
- Shipments slightly lower than Q2 2015 primarily due
to reduced compact and mid-size sedan volumes: U.S. -7 thousand
units (-1%), Mexico -4 thousand units (-17%), Canada
flat
- Net
revenues increase due to improved truck and SUV model mix and
positive net pricing actions, partially offset by FX
impacts
- Adjusted EBIT increase primarily due to positive
model mix and purchasing efficiencies, partially offset by higher
manufacturing costs and product costs for content
enhancements
- Adjusted EBIT excludes total charges of €519 million
composed of:
- €414 million primarily due to an expansion of the
scope of the Takata airbag inflator recalls announced in May
2016
- €105 million for incremental costs related to the
implementation of the Group's plan to realign existing capacity to
better meet market demand for pickup trucks and
SUVs
|
|
(*) Sales data represents sales to retail and fleet customers
and limited deliveries to Group-related persons. Sales by dealers
to customers are reported through a new vehicle delivery system.
Reporting methodology consistent with FCA
US press release issued July 26,
2016.
|
LATAM
|
Three months ended June
30
|
|
Change
|
|
2016
|
|
2015
|
|
|
Actual
|
CER
|
|
Shipments (thousands of
units)
|
112
|
|
138
|
|
|
(19)%
|
|
|
|
Net revenues (€
million)
|
1,469
|
|
1,851
|
|
|
(21)%
|
|
(9)%
|
|
|
Adjusted EBIT (€
million)
|
—
|
|
(79)
|
|
|
n.m.(5)
|
n.m.(5)
|
|
Adjusted EBIT
margin
|
—
|
|
(4.3)%
|
|
|
n.m.(5)
|
|
|
|
Remained market leader in Brazil, with market
share of
17.8%
|
|
- Decrease in shipments reflects poor market conditions
in Brazil due to continued macroeconomic weakness: Brazil -29
thousand units (-25%), Argentina +1 thousand units
(+8%)
- Net
revenues decrease primarily due to lower shipments and unfavorable
FX impacts, partially offset by favorable vehicle mix, mainly due
to the all-new Fiat Toro from Pernambuco plant
- Adjusted EBIT increase primarily as a result of
favorable vehicle mix, lower industrial costs mainly due to
non-repeat of launch costs in prior period, and lower selling,
general and administrative costs due to continued cost reduction
initiatives to rightsize to market volume, partially offset by
lower shipments and input cost inflation
- Adjusted EBIT excludes €40 million of restructuring
costs for workforce reductions to align to current market
conditions in Brazil
|
|
|
|
|
|
APAC
|
Three months ended June
30
|
|
Change
|
|
2016
|
2015
|
|
Actual
|
CER
|
|
Shipments (thousands of
units)
|
23
|
46
|
|
(50)%
|
|
|
Net revenues (€
million)
|
957
|
1,523
|
|
(37)%
|
(34)%
|
|
Adjusted EBIT (€
million)
|
42
|
47
|
|
(11)%
|
(5)%
|
|
Adjusted EBIT
margin
|
4.4%
|
3.1%
|
|
+
130
bps
|
|
|
|
Continued increase in Jeep sales, up 32% driven
by ongoing transition to localized production in
China
|
|
- Decrease in shipments due to transition to local Jeep
production in China, through the JV with GAC, as well as
lower volumes in Australia due to pricing actions to offset
negative FX impacts. Combined shipments (including JV produced
units) substantially flat
- Net
revenues decrease primarily as a result of lower shipments,
partially offset by favorable vehicle mix
- Adjusted EBIT decreased with lower shipments
partially offset by favorable vehicle mix, lower industrial costs
due to localization of Jeep production, lower direct marketing
costs now incurred by China JV, and improved results from China
JV
|
|
|
|
(5) Number is not meaningful
|
EMEA
|
Three months ended June
30
|
|
Change
|
|
2016
|
2015
|
|
Actual
|
CER
|
|
Shipments (thousands of
units)
|
367
|
322
|
|
+14%
|
|
|
Net revenues (€
million)
|
5,770
|
5,470
|
|
+5%
|
+7%
|
|
Adjusted EBIT (€
million)
|
143
|
57
|
|
+151%
|
+154%
|
|
Adjusted EBIT
margin
|
2.5%
|
1.0%
|
|
+
150
bps
|
|
|
|
Continued profit
and margin
improvement
coupled with
growth in
market
share
|
|
- European market share (EU28+EFTA) for passenger cars
up 40 bps to 6.8% (up 60 bps to 29.2% in Italy) and down 10 bps to
12.9% for light commercial vehicles (LCVs)(6) (down 120
bps to 43.9% in Italy)
- Passenger car shipments up 13% to 292 thousand units
and shipments of LCVs up 16% to 75 thousand
units
- Net
revenues increase primarily due to higher volumes driven by Tipo
family and LCVs
- Adjusted EBIT increase driven by higher volumes,
favorable vehicle mix as well as manufacturing and purchasing
efficiencies, partially offset by higher research and development
costs and advertising costs to support new product
launches
|
|
|
|
|
MASERATI
|
Three months ended June
30
|
|
Change
|
|
2016
|
|
2015
|
|
|
Actual
|
CER
|
|
Shipments
(units)
|
6,912
|
|
8,281
|
|
|
(17)%
|
|
|
|
Net revenues (€
million)
|
579
|
|
610
|
|
|
(5)%
|
|
(2)%
|
|
|
Adjusted EBIT (€
million)
|
36
|
|
43
|
|
|
(16)%
|
|
(17)%
|
|
|
Adjusted EBIT
margin
|
6.2%
|
|
7.0%
|
|
|
(80)
bps
|
|
|
|
Commenced shipments of the all-new Levante and
restyled
Quattroporte
|
|
- Shipments down due to lower volumes in North America
(-26%) and Europe (-17%), partially offset by increase in China
(+20%)
- Net
revenues decrease primarily due to lower volumes, partially offset
by favorable vehicle and market mix, as well as positive FX
impacts
- Adjusted EBIT decrease primarily due to lower
volumes, higher industrial and commercial launch costs for the
all-new Levante and restyled Quattroporte, partially offset by
favorable mix, as well as positive FX impacts
|
(6) Due to unavailability of market data for Italy, the figures reported are an
extrapolation and discrepancies with actual data could exist
|
COMPONENTS (Magneti Marelli, Comau and
Teksid)
|
Three months ended June
30
|
|
Change
|
|
2016
|
2015
|
|
Actual
|
CER
|
|
Net revenues (€
million)
|
2,430
|
2,549
|
|
(5)%
|
—%
|
|
Adjusted EBIT (€
million)
|
111
|
96
|
|
+16%
|
+19%
|
|
Adjusted EBIT
margin
|
4.6%
|
3.8%
|
|
+
80
bps
|
|
|
|
Continued Adjusted EBIT margin improvement driven
by Magneti
Marelli
|
|
- Net
revenues reflects higher volumes at Magneti Marelli, more than
offset by volume reduction at Comau and unfavorable FX
impacts
- Adjusted EBIT increase reflects higher volumes and
favorable mix, partially offset by higher industrial
costs
- Magneti Marelli order intake was €603 million in line
with Q2 2015, with non-captive orders at 57%
- Comau order backlog was €1.2 billion, up €186 million
from March 31, 2016
|
|
|
|
Brand Activity
|
Jeep
|
|
- Jeep Renegade named best "Off-road vehicle and
SUV up to €30,000" and Jeep Wrangler was the winner in the
"Off-road vehicles and SUVs from €30,000 - €50,000" category
by Auto Bild Allrad, a German SUV and 4x4 specialist
magazine
- Launch of Jeep Renegade in
Argentina
|
|
|
|
Maserati
|
|
- All
new-Maserati Levante available in major European
markets
- Launch of restyled Maserati Quattroporte with
further refinement to the interior and additional high-tech
features
- Launch of two unique trim options - GranLusso and
GranSport trims - available as an upgrade for all Quattroporte V6
powertrain versions
|
|
|
Alfa
Romeo
|
|
- Commercial launch of all-new Alfa Romeo Giulia
in major European markets
- Alfa Romeo Giulia named a "Future Classic" in
the "mid-size" category and Alfa Romeo 4C named a "Future
Classic" in the "coupé" class (third time in a row) at the 2016
competition organized by Motor Klassik, a German magazine devoted
to the classics of automobile history
- Alfa Romeo Giulia earned the prestigious
5-star rating from the European New Car Assessment Programme, an
award that confirms the special attention that Alfa Romeo
pays to safety
|
|
|
|
Chrysler
|
|
- FCA
and Google announced first-of-its-kind collaboration to integrate
Google's self-driving technology into approximately 100 all-new
Chrysler Pacifica hybrid minivans uniquely built for
Google
|
|
|
Fiat
|
|
- Launch of all-new Fiat Tipo hatchback
and station wagon versions marking Fiat's comeback to
the medium-compact segment
- Launch of all-new Fiat 500S in EMEA,
representing the sportiest interpretation of the iconic
Fiat
- Launch of all-new Fiat 500 Riva in EMEA, with
similar premium materials as those used on Riva
yachts
- Commercial launch of all-new Fiat 124
Spider
- All-new Fiat Toro launched in Argentina; new
entry in mid-size pickup segment
|
|
|
Fiat
Professional
|
|
- Debut of Fullback, Fiat Professional's all-new
pickup, in Italy, expanding the brand's presence in
EMEA
- Launch of all-new Talento, completing the LCV range
for Fiat Professional
|
|
|
Abarth
|
|
- Abarth 595 reconfirmed its "Future Classic"
title, also won last year, in the "small" category at the 2016
competition organized by Motor Klassik
- Launch of new Abarth 595, available as a
hatchback or convertible; sales started in June across
EMEA
|
|
|
|
Dodge
|
|
- Dodge Challenger wins total quality in
Specialty Coupe segment in Strategic Vision's 22nd annual Total
Quality Impact™
- For
a third consecutive year, Dodge Challenger ranks at top of
J.D. Power 2016 U.S. Initial Quality StudySM Midsize
Sporty Car segment
|
|
|
Ram
|
|
- Full 2016 Ram Truck product line recognized by
Popular Mechanics magazine with the Automotive Excellence
Award
- Launch of all-new limited-edition Ram 1500
Stinger Yellow Sport
|
|
Reconciliations
|
Six months ended June
30
|
Adjusted EBIT to
EBIT
|
Three months ended June
30
|
|
2016
|
|
2015
|
|
(€
million)
|
2016
|
|
2015
|
|
|
3,007
|
|
2,101
|
|
Adjusted EBIT
(7)
|
1,628
|
|
1,401
|
|
|
(414)
|
|
—
|
|
Recall campaigns - airbag
inflators
|
(414)
|
|
—
|
|
|
(156)
|
|
—
|
|
NAFTA capacity
realignment
|
(105)
|
|
—
|
|
|
(19)
|
|
(80)
|
|
Venezuela currency
devaluation
|
—
|
|
(80)
|
|
|
—
|
|
(81)
|
|
U.S. National Highway Traffic Safety Administration
(NHTSA) consent
order
|
—
|
|
(81)
|
|
|
(67)
|
|
(12)
|
|
Restructuring
costs
|
(60)
|
|
(8)
|
|
|
—
|
|
(4)
|
|
Impairment
expense
|
—
|
|
(4)
|
|
|
5
|
|
—
|
|
Gains on disposal of
investments
|
5
|
|
—
|
|
|
11
|
|
(2)
|
|
Other
|
6
|
|
(2)
|
|
|
(640)
|
|
(179)
|
|
Total
adjustments
|
(568)
|
|
(175)
|
|
|
2,367
|
|
1,922
|
|
EBIT
|
1,060
|
|
1,226
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June
30
|
Adjusted net profit to Net
profit
|
Three months ended June
30
|
|
2016
|
|
2015
|
|
(€
million)
|
2016
|
|
2015
|
|
|
1,237
|
|
403
|
|
Adjusted net profit
(8)
|
709
|
|
372
|
|
|
(640)
|
|
(179)
|
|
Adjustments (as
above)
|
(568)
|
|
(175)
|
|
|
202
|
|
60
|
|
Tax impact on
adjustments
|
180
|
|
60
|
|
|
(438)
|
|
(119)
|
|
Total adjustments, net of
taxes
|
(388)
|
|
(115)
|
|
|
799
|
|
284
|
|
Net
profit
|
321
|
|
257
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June
30
|
Adjusted diluted EPS to Diluted
EPS
|
Three months ended June
30
|
|
2016
|
|
2015
|
|
|
2016
|
|
2015
|
|
|
0.783
|
|
0.259
|
|
Adjusted diluted EPS (€/share)
(9)
|
0.448
|
|
0.243
|
|
|
(438)
|
|
(119)
|
|
Total adjustments, net of taxes (€
million)
|
(388)
|
|
(115)
|
|
|
(0.281)
|
|
(0.079)
|
|
Impact of adjustments on Diluted EPS
(€/share)
|
(0.249)
|
|
(0.076)
|
|
|
0.502
|
|
0.180
|
|
Diluted EPS
(€/share)
|
0.199
|
|
0.167
|
|
|
1,559,345
|
|
1,509,717
|
|
Weighted average number of shares outstanding for
diluted EPS
(thousand)
|
1,560,707
|
|
1,511,083
|
|
(7) Adjusted EBIT is calculated as EBIT excluding:
gains/(losses) on the disposal of investments, restructuring,
impairments, asset write-offs and other unusual income/(expenses)
that are considered rare or discrete events that are infrequent in
nature; (8) Adjusted net profit is calculated as Net profit
excluding post-tax impacts of the same items excluded from Adjusted
EBIT; (9) Adjusted diluted EPS is calculated by adjusting Diluted
EPS for the impact of the same items excluded from Adjusted
EBIT
|
Net industrial debt to
Debt
|
At June 30,
2016
|
At March 31,
2016
|
|
(€
million)
|
|
|
|
Net industrial debt
(10)
|
5,474
|
|
6,593
|
|
|
Net financial services
debt
|
1,689
|
|
1,442
|
|
|
Net
debt
|
7,163
|
|
8,035
|
|
|
Current financial receivables from
jointly-controlled
financial services
companies
|
50
|
|
35
|
|
|
Other financial assets/(liabilities),
net
|
(397)
|
|
63
|
|
|
Current
securities
|
414
|
|
459
|
|
|
Cash and cash
equivalents
|
18,144
|
|
17,963
|
|
|
Debt
|
25,374
|
|
26,555
|
|
The following is a reconciliation of the Group's results as
reported herein (re-presented to exclude Ferrari) to the Group's
results previously reported for the three and six months ended
June 30, 2015.
|
Six months ended June 30,
2015
|
|
|
Three months ended June 30,
2015
|
|
Results
-
excluding Ferrari (as reported
herein)
|
Ferrari, net of
intercompany
(11)
|
|
Results
-
including Ferrari (previously
reported)
|
|
(€ million, except as otherwise
noted)
|
Results
-
excluding Ferrari
(as reported
herein)
|
|
Ferrari, net of intercompany
(11)
|
Results
-
including Ferrari (previously
reported)
|
|
2,284
|
|
4
|
|
2,288
|
|
|
Shipments (thousands of
units)
|
1,191
|
|
2
|
|
1,193
|
|
|
54,383
|
|
1,241
|
|
55,624
|
|
|
Net
revenues
|
28,540
|
|
688
|
|
29,228
|
|
|
1,922
|
|
218
|
|
2,140
|
|
|
EBIT
|
1,226
|
|
122
|
|
1,348
|
|
|
2,101
|
|
224
|
|
2,325
|
|
|
Adjusted
EBIT
|
1,401
|
|
124
|
|
1,525
|
|
|
284
|
|
141
|
|
425
|
|
|
Net
profit
|
257
|
|
76
|
|
333
|
|
(10) Net industrial debt is computed as: debt plus other
financial liabilities related to industrial activities less (i)
cash and cash equivalents, (ii) current securities, (iii) current
financial receivables from Group or jointly controlled financial
services entities and (iv) other financial assets; therefore, debt,
cash and other financial assets/liabilities pertaining to Financial
Services entities are excluded from the computation of Net
industrial debt; (11) the amounts presented for Ferrari are not
representative of the income statement of Ferrari on a stand-alone
basis, as these amounts are net of transactions between Ferrari and
other companies of the Group
This document, and in particular the section entitled "2016
Guidance", contains forward-looking statements. These statements
may include terms such as "may", "will", "expect", "could",
"should", "intend", "estimate", "anticipate", "believe", "remain",
"on track", "design", "target", "objective", "goal", "forecast",
"projection", "outlook", "prospects", "plan", or similar terms.
Forward-looking statements are not guarantees of future
performance. Rather, they are based on the Group's current
expectations and projections about future events and, by their
nature, are subject to inherent risks and uncertainties. They
relate to events and depend on circumstances that may or may not
occur or exist in the future and, as such, undue reliance should
not be placed on them. Actual results may differ materially from
those expressed in such statements as a result of a variety of
factors, including: the Group's ability to reach certain minimum
vehicle volumes; developments in global financial markets and
general economic and other conditions; changes in demand for
automotive products, which is highly cyclical; the Group's ability
to enrich the product portfolio and offer innovative products; the
high level of competition in the automotive industry; the Group's
ability to expand certain of the Group's brands internationally;
changes in the Group's credit ratings; the Group's ability to
realize anticipated benefits from any acquisitions, joint venture
arrangements and other strategic alliances; potential shortfalls in
the Group's defined benefit pension plans; the Group's ability to
provide or arrange for adequate access to financing for the Group's
dealers and retail customers; the Group's ability to access funding
to execute the Group's business plan and improve the Group's
business, financial condition and results of operations; various
types of claims, lawsuits and other contingent obligations against
the Group; disruptions arising from political, social and economic
instability; material operating expenditures in relation to
compliance with environmental, health and safety regulation;
developments in labor and industrial relations and developments in
applicable labor laws; increases in costs; disruptions of supply or
shortages of raw materials; exchange rate fluctuations, interest
rate changes, credit risk and other market risks; political and
civil unrest; earthquakes or other disasters and other risks and
uncertainties.
Any forward-looking statements contained in this document
speak only as of the date of this document and the Company does not
undertake any obligation to update or revise publicly
forward-looking statements. Further information concerning the
Group and its businesses, including factors that could materially
affect the Company's financial results, is included in the
Company's reports and filings with the U.S. Securities and Exchange
Commission, the AFM and CONSOB.
On July 27, 2016, at
12.30p.m. BST, management will hold a
conference call to present the 2016 second quarter results to
financial analysts and institutional investors. The call can be
followed live and a recording will be available later on the Group
website (http://www.fcagroup.com/en-us/pages/home.aspx). The
supporting document will be made available on the Group website
prior to the call.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fca-reports-second-quarter-adjusted-ebit-of-16-billion-up-16-with-group-margin-of-58-up-90-bps-adjusted-net-profit-of-07-billion-up-91-and-net-profit-of-03-billion-up-25-net-industrial-debt-reduced-to-55-billio-300304702.html
SOURCE Fiat Chrysler Automobiles