FCA ends Q2 with 25% rise in net profit

(ANSA) - Turin, July 27 - Fiat Chrysler Automobiles (FCA) ended the second quarter of 2016 with net profit of 0.3 billion euros, a rise of 25% on the previous one. Adjusted net profit rose by 91% to 0.7 billion euros. FCA has revised 2016 targets upwards after strong first quarter performance: net profit over 112 billion euros (compared with over 110 billion), adjusted EBIT of over 5.5 billion euros (compared with five billion) and adjusted net profit of over two billion euros. The target for industrial net debt remains unchanged, at under five billion euros. FCA ended the second quarter with industrial net debt in decline by 1.1 billion euros compared with March 2016 and with net profit of some 27.9 billion euros. The company's consolidated international deliveries were at 1,175,000 units, a 1% drop due mainly to the Asia segment on account of a shift to local Jeep production in China. Overall international deliveries including joint ventures rose by 1% to 1,233,000 units, with a drop seen in Latin America more than compensated for by an increase in Europe, the Middle East and Africa (EMEA).