ROME: Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep’s positive performance continued with worldwide shipments up 11% and sales up 22%.
Net revenues were up 19% to €26.4 billion (+4% at constant exchange rates, or CER).
Adjusted EBIT was €800 million, up €145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level.
Net profit was €92 million, up €265 million compared to the net loss of €173 million in Q1 2014.
Net industrial debt was €8.6 billion, up €0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at €25.2 billion.
The Group confirms its full-year guidance.
