Highlights

CNH INDUSTRIAL THIRD QUARTER NET REVENUES OF €6.2 BILLION, NET PROFIT OF €248 MILLION

  • Third quarter revenues totaled €6.2 billion, down 1.5% over Q3 2012. On a constant currency basis revenues increased 5.4%, as growth for the agricultural equipment, trucks and commercial vehicles and powertrain businesses was partially offset by more challenging trading conditions in the construction equipment business.
  • Trading profit for the quarter was €508 million, with trading margin at 8.2% (Q3 2012: €570 million, 9.0% margin).
  • Net profit of €248 million, or €0.169 per share, down €43 million against Q3 2012.
  • Net industrial debt increased €228 million during the quarter to €2,502 million at September 30, 2013, with positive operating performance offset by a seasonal increase in working capital and sustained capital expenditures primarily related to new product initiatives. Available liquidity totaled €4.9 billion.
  • Full year guidance confirmed.

 

Summary Income Statement

 YTD (01.01 to 09.30)   3rd Quarter
20132012 (1)Change(€ million)20132012 (1)Change
18,84418,7710.40%Net revenues6,2176,313-1.50%
1,5491,628-79Trading profit/(loss)508570-62
8.28.7-0.5 p.p.Trading margin (%)8.29-0.8 p.p.
1,4801,488-8Operating profit/(loss)498561-63
1,2071,220-13Profit/(loss) before taxes402472-70
7477443Profit/(loss) for the period248291-43
616648-32Profit/(loss) attributable to owners of the parent206256-50
1319635Profit/(loss) attributable to non-controlling interests42357
0.5040.53-0.026Basic EPS (€)0.1690.209-0.040
0.5040.53-0.026Diluted EPS (€)0.1690.209-0.040

(1) For the third quarter and first nine months of 2012, figures have been restated following the adoption of IAS 19 Revised. There was no significant impact for any individual line item.

The results presented in this press release are prepared in accordance with IFRS and relate to CNH Industrial Group after the merger between Fiat Industrial S.p.A. and CNH Global N.V., completed on September 29, 2013.

The merger had no impact on the consolidated activities of the former Fiat Industrial Group and therefore the results presented herein are consistent and comparable with those previously published by Fiat Industrial.

However, starting from the merger closing date, net profit and net equity that previously would have been attributed to the ex-CNH Global minority shareholders, are now included in the profit and net equity attributable to owners of the parent.