Fiat Chrysler Automobiles Reports Positive Adj. EBIT In Q1; Revenues Down 16%

(RTTNews) - Fiat Chrysler Automobiles (FCAU) reported a first quarter net loss from continuing operations of 1.69 billion euros compared to profit of 508 million euros, prior year. Loss per share from continuing operations was 1.08 euros compared to profit of 0.32 euros. Adjusted net loss was 471 million euros compared to profit of 570 million euros, a year ago. Adjusted loss per share was 0.30 euros compared to profit of 0.36 euros. Adjusted EBIT was at 52 million euros, for the quarter.

First quarter net revenues were 20.57 billion euros, a decline of 16% from previous year. Worldwide combined shipments were 818 thousand units, down 21% year-on-year.

Available Liquidity was at 18.6 billion euros as at March 31, 2020, which included 6.25 billion euros revolving credit facility, which was fully drawn down in April. The liquidity was further strengthened in April with a new 3.5 billion euros incremental bridge credit facility, which remains fully undrawn.