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Details of Fiat and Chrysler's 4Q and 2013 earns

Published on NewsOK Modified: January 29, 2014 at 3:26 pm •  Published: January 29, 2014
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THE BACKGROUND: Fiat SpA and Chrysler Group, which merged earlier this month, announced Wednesday that their new company will be called Fiat Chrysler Automobiles NV, or FCA. They eventually plan to release one earnings statement in U.S. dollars, but on Wednesday they reported separate fourth quarter and full year earnings.

FIAT: Fiat posted full-year net income of 2 billion euros ($2.7 billion) in 2013, more than double its earnings from the prior year. Without special items, including a 1.5 billion euro ($2.0 billion) gain from deferred tax assets, Fiat earned 943 million euros ($1.29 billion). It would have lost 911 million euros ($1.25 billion) without profits from Chrysler. Revenue rose 3 percent to 87 billion euros ($119 billion). Worldwide vehicle shipments grew 3 percent to 4.4 million. In the fourth quarter, Fiat's net income was 1.3 billion euros ($1.8 billion), up from 224 million euros ($306 million) a year ago. But excluding a tax credit, net income was 252 million euros ($344 million). Without Chrysler, Fiat would have lost 235 million euros ($321 million) in the quarter. Fourth quarter revenue rose 10 percent to 24 billion euros ($32.8 billion). Worldwide shipments rose 8 percent to 1.2 million.

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