FCA’s Earnings Soar 25%

Second-quarter net profits for Fiat Chrysler Automobiles NV jumped 25% to €321 million ($353 million). Adjusted earnings before interest and taxes climbed 16% to €1.6 billion ($1.8 billion).

Revenue declined 2% to €27.9 billion ($30.7 billion) in April-June. Unit volume slipped 1% to 1.18 million vehicles. When sales by joint ventures are included, deliveries grew 1% to 1.23 million units. FCA says global sales of Jeep SUVs rose 16% on gains in all regions.

FCA says its industrial debt shrank by €1.1 billion to €5.5 billion ($6 billion). The company raised its forecast for the full year to an adjusted operating profit of €5.5 billion from the previous guidance of at least €5 billion.

In North America, shipments declined 2% to 666,000 vehicles. But a richer sales mix raised revenue 2% to €17.5 billion ($9.2 billion). Adjusted EBIT for the region grew 4% to €1.4 billion ($1.5 billion).

In Latin America, deliveries shrank 19% to 112,000 units, and net revenue dropped 9% to €1.5 billion ($1.6 billion).

FCA’s revenue in Europe rose 5% to €5.8 billion ($6.3 billion), as unit sales climbed 14% to 367,000 vehicles. Adjusted EBIT jumped to €143 million ($157 million) from €57 million in the second quarter of 2015.