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10/31/2019, 1:09 PM (Source: TeleTrader)
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Fiat Chrysler revenue down 1% to €27.3B in Q3

Fiat Chrysler announced on Thursday its revenue stood at €27.3 billion in the third quarter of fiscal 2019, decreasing 1% compared to the same period last year. At the same time, diluted earnings per share in the three months ending September 30 stood at €0.81, 6% lower on an annual basis. Adjusted net profit fell 6%, from €1.34 billion to €1.26 billion.

Combined worldwide shipments came to 1.06 billion, down 9% versus last year. Adjusted EBIT in North America was at a record €1.96 billion, with lower shipments being offset by improved pricing. The EBIT margin stood at 7.2%. Net revenues in Latina America were up 10%, while shipments remained flat. Adjusted EBIT was up 83% due to higher reevenues.

"Our strong Q3 results, built on record North America profitability, put us in a position to deliver our full-year guidance and to further improve financial performance in 2020. In addition, changes to our product portfolio plans are central to our strategy to improve performance in EMEA and Maserati," chief executive Mike Manley stated.

Breaking the News / MD