FCA revises 2018 targets down

(ANSA) - Turin, July 25 - Fiat Chrysler Automobiles on Wednesday revised most of its 2018 targets down and posted second-quarter profits 35% on the same period in 2017.
    FCA confirmed its target of adjusted net profit of five billion euros for 2018.
    But net earnings have been revised down to 115-118 billion from 125 billion.
    Adjusted EBIT is now forecast to be 7.5-8 billion, down from 8.7 billion at the last estimate.
    Net industrial liquidity is forecast to be three billion euros instead of four billion.
    FCA has wiped out its debt and for the first time has a net liquidity of 500 million euros, it said in releasing its quarterly results.
    FCA posted an adjusted net profit of 981 million euros in the second quarter, 9% down, and a net profit of 754 million euros, 35% down on the second quarter of 2017.