FCA Italy, our local subsidiary of FCA NV, reduces losses. This is what emerges from the company's 2017 financial statements consulted by Radiocor.
In detail, 2017 ended with a loss of 672 million compared to the loss of 1,1 billion recorded the previous year. Net revenues rose to 28,048 billion euros, a figure which represents an increase of 9 percentage points compared to the 2016 financial statements. Revenues were driven in particular by "the increase in volumes, the increase in products in the portfolio and the benefit of a full year of products launched in 2016”.
The operating result also improved, going from -1,16 billion euros in 2016 to -562 million in 2017 "against the significant improvement in turnover, there was a substantial reduction in costs, especially research and development, structural (general and administrative) and advertising expenses'.
Financial management decreased due in part, according to what the company explains, "to the greater financial exposure (it should be remembered that in 2016 the company's treasury account had benefited from a contribution from the parent company for 3,5 billion euro reserves), the reduction in dividends from investees and the absence of some operations for the sale of equity investments (Japan Kk and Nh India) which had generated a substantial amount of capital gains”. Net financial debt at the end of 2017 is thus equal to 3,98 billion euros, against 2,34 billion a year earlier.
In Piazza Affari, the FCA share gains 1,44% driven not only by the results in Italy but also by the more serene climate between China and the United States which convinced Beijing to reduce tariffs on car imports from 25 to 15%.
