Chrysler Quarterly, Annual Profits Soar

Chrysler Group LLC boosted net earnings 68% year on year to $378 million (€281 million) in the fourth quarter of 2012.

Revenue rose 13% year over year to $17.2 billion (€12.8 billion) in the October-December period as volume increased 11% to 533,000 vehicles.

For the full year, Chrysler's net income surged to $1.7 billion (€1.3 billion) from $183 million (€136 million) in 2011. Adjusted operating income jumped 47% to $2.9 billion (€2.2 billion).

Annual revenue climbed 20% year on year to $65.8 billion (€48.9 billion). Global sales grew 18% to 2.19 million vehicles.

The company generated $2.2 billion (€1.6 billion) in free cash flow last year and ended 2012 with $11.6 billion (€8.6 billion) in cash. That cash is not available to parent Fiat SpA until the two companies are fully merged.

Chrysler predicts net earnings of $2.2 billion (€1.6 billion) in 2013 and adjusted operating profit of about $3.8 billion (€2.8 billion). The company forecasts revenue of as much as $75 billion (€55.8 billion) this year and vehicle sales as high as 2.7 million units.