fca closed the second quarter with a adjusted net profit up 52%, to 1.080 million euros, and a Net income more than tripled: +260%, to 1.155 million euros. THE revenues net income amounted to 27,9 billion euros, in line with the second quarter of 2016, but down by 2% at constant exchange rates.
Good profitability: Adjusted EBIT up 15%, to 1.867 million euros, mainly driven by Maserati and with all sectors showing positive results. Group margin records at 6,7%. Overall global deliveries, however, totaled 1.225.000 vehicles, down 1% year on year.
THEnet borrowing totaled 4,2 billion euros, with a decrease of 0,9 billion euros compared to March 2017 mainly due to the positive cash flow from operations equal to 2,9 billion euros, partly offset by investments of 2,2 billion euros. This figure has disappointed analysts' expectations.
At the end of June the liquid assets available amounted to 20,0 billion euros, with a planned reduction of gross debt of 1,4 billion euros in the quarter.
The group confirms i target for the current year: net revenues between 115 and 120 billion euros; Adjusted EBIT exceeding €7 billion; adjusted net profit in excess of €3,0 billion and net industrial debt below €2,5 billion.
Among the individual brands stands out Maserati: deliveries almost doubled with increases in all main markets: Europe (+93%), China (+146%) and North America (+50%). Maserati will offer “electric models from 2019”. This was announced by the CEO of the group, Sergio Marchionne, in the conference call on the presentation of the quarterly results. “There are no longer any doubts – he specified – about the fact that there will be a demand for electric cars”. Maserati will be "an integral element of the electrification" of the group, he added.
On the group's objectives, Marchionne specified that "the reorganization is not finished" and confirmed that the group's plans for 2022 will be presented during the investor day scheduled for mid-2018.
After the spread of these numbers the stock on the stock exchange of FCA turned red, but for a short time: the share recovered and is up by 0,20% to 10,18 euros.
