Fiat Chrysler Automobiles
(29.18% stake, 42.11% of voting rights on issued capital)
The key consolidated data of FCA for 2018 are presented below.
Year | Change | |||
---|---|---|---|---|
2018 | 2017 | Amount | % | |
Net revenues | 115,410 | 110,934 | 4,476 | +4 |
Adjusted EBIT (1) | 7,284 | 7,054 | 230 | +3 |
Net profit/(loss) | 3,632 | 3,510 | 122 | +3 |
Net industrial debt (2) | 1,862 | (2,930) | 4,262 | n.s |
Group results – excluding Magneti Marelli
As a result of the announced sale of Magneti Marelli and, in accordance with IFRS, Magneti Marelli is presented as a discontinued operation in the financial statements for the year ended 31 December 2018, with the comparative amounts restated. The remaining Components activities are no longer considered a separate reportable segment and are included within "Other activities".
Year | Change | |||
---|---|---|---|---|
€ million | 2018 | 2017 | Amount | % |
Net revenues, continuing operations | 110,412 | 105,73 | 4,682 | 4 |
Adjusted EBIT(1), continuing operations | 6,738 | 6,609 | 129 | 2 |
Net Profit from continuing operations | 3,33 | 3,291 | 39 | 1 |
Net Industrial cash (debt)(2) | 1,872 | -2,39 | 4,262 | n.s. |
Net revenues | Adjusted EBIT | |||
---|---|---|---|---|
Years ended 31 December | Years ended 31 December | |||
2018 | 2017 | € million | 2018 | 2017 |
72,384 | 66,094 | NAFTA | 6,230 | 5,227 |
8,152 | 8,004 | LATAM | 359 | 151 |
2,703 | 3,250 | APAC | (296) | 172 |
22,815 | 22,700 | EMEA | 406 | 735 |
2,663 | 4,058 | Maserati | 151 | 560 |
1,695 | 1,624 | Other activities, unallocated items and adjustments | (112) | (236) |
110,412 | 105,730 | Total continuing operations, excluding Magneti Marelli | 6,738 | 6,609 |
4,998 | 5,204 | Magneti Marelli, net of inter-company elimination (1) | 546 | 445 |
115,410 | 110,934 | Total including Magneti Marelli | 7,284 | 7,054 |
NAFTA
Higher Net revenues primarily due to positive effects from volumes and net pricing, partially offset by negative foreign currency translation effects. Adjusted EBIT increase due to positive net pricing, favorable mix and higher volumes, partially offset by increased product content and launch costs related to new vehicles.
LATAM
Net revenues up slightly primarily due to higher shipments, mix and net pricing, partially offset by negative foreign exchange translation effects and weakening Argentine peso. Adjusted EBIT increase mainly as a result of higher volumes, favorable mix and positive net pricing, partially offset by negative foreign exchange effects and higher industrial and advertising costs related to new vehicles.
APAC
Net revenues decrease due to unfavorable mix, pricing actions and foreign currency translation effects. Decrease in Adjusted EBIT primarily due to lower net revenues and lower results from China JV, as well as the benefit of the Tianjin port explosions final insurance recovery of €93 million included in prior year results
EMEA
Net revenues flat, with favorable mix offset by lower volumes and negative net pricing. Adjusted EBIT decrease primarily due to negative net pricing, lower volumes and impacts from the transition to WLTP car type approval particularly in the second half of the year, as well as higher advertising to support Jeep brand growth, partially offset by industrial cost savings.
Maserati
Net revenues decrease primarily due to lower volumes and unfavorable market mix. Adjusted EBIT decrease primarily due to lower volumes, increased depreciation and amortization unfavorable FX, partially offset by lower marketing expense
Net industrial cash (debt)
Up €4.3 billion from 31 December 2017 to a net industrial cash position of €1.9 billion at 31 December 2018, reflecting improved industrial free cash flows partially offset by accelerated discretionary pension contribution.
€ million | 12/31/2018 | 12/31/2017 |
---|---|---|
Debt | (14,705) | (17,971) |
Current financial receivables from jointly-controlled financial services companies | 242 | 285 |
Derivative financial assets (liabilities) net and collateral deposits | 151 | 206 |
Current debt securities | 219 | 176 |
Cash and cash equivalents | 13,175 | 12,638 |
Net Cash (debt) | (918) | (4,666) |
Exclude: Net financial services debt | 2,790 | 2,276 |
Net industrial cash (debt) | 1,872 | (2,390) |
2019 Outlook(1)
Guidance for 2019 is listed below:
- Adjusted EBIT >€6.7 with margin >6.1%, both up from 2018 (2018:€6.7 billion with margin at 6.1%)
- Adjusted diluted EPS >€2.70, reflecting higher effective tax rate, principally in the U.S. (2018:€3.00 per share)
- Industrial free cash flows >€1.5 billion, down from 2018 due to higher capital expenditures and cash payments for fines and other costs in connection with the U.S. diesel emissions settlement (2018: €4.4 billion).
(1)Amounts do not include any impacts from the spin-off of the Magneti Marelli business.
- Annual Report 2018
- Half-Year Report H1 - 2018