FCA: shares rise after 'strong' 2019 results
(CercleFinance.com) - FCA shares were up 2% on Thursday in Milan after the Italo-American carmaker reported "strong" full year 2019 results, almost doubling its profit.
Net profit in 2019 rose to 6.6 billion euros, from 3.6 billion euros in 2018, the group said in a statement.
However, excluding the gain on the sale of Magneti Marelli, net profit from continuing operations fell to 2.7 billion euros last year, compared to 3.3 billion euros in 2018.
Adjusted diluted EPS of 2.73 euros still beat the consensus by five cents.
FCA - which owns the Ram and Jeep brands amongst others - posted record North America results, with adjusted EBIT of 6.7 billion euros, with a margin of 9.1%.
The group said it expects "continued strong performance" in 2020 and confirmed its guidance of adjusted EBIT of over 7 billion euros this year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Net profit in 2019 rose to 6.6 billion euros, from 3.6 billion euros in 2018, the group said in a statement.
However, excluding the gain on the sale of Magneti Marelli, net profit from continuing operations fell to 2.7 billion euros last year, compared to 3.3 billion euros in 2018.
Adjusted diluted EPS of 2.73 euros still beat the consensus by five cents.
FCA - which owns the Ram and Jeep brands amongst others - posted record North America results, with adjusted EBIT of 6.7 billion euros, with a margin of 9.1%.
The group said it expects "continued strong performance" in 2020 and confirmed its guidance of adjusted EBIT of over 7 billion euros this year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.