The debt brakes Fca stock market (-2.8%) – Milano Finanza

All right, nay. The first quarter 2016 Fca closed with results substantially increased (” records “according to the official note of the Lingotto) but the corresponding increase in debt has worried the stock market far more than the performance of revenues and profits with the result that the title (which in the morning had opened in positive territory) started to lose after the publication of accounts to close down 2.6% at 7.03 euro. The worst title among those at high capitalizazzione in Piazza Affari list.

In detail, in the first quarter Fca reported a comparable consolidation basis (ie adjusted for the contribution of Ferrari in 2015, given that the Red was scoporata to date) revenues 26.5 billion. A given in cerscita of 3% compared to the first quarter last year primarily because of the thrust of the North American market (revenues up 6% to over 17 billion) and the European one whose contribution in terms of sales rose from 4.6 to more than 5 billion. Fca also has also improved the EBIT rose by 88% from 696 million to over 1.3 billion. And when you consider the reclassified EBIT (adjusted), or the modified aggregated to account for unusual items such as the realignment of manufacturing capacity in North America or the currency devaluation in Venezuela, the Lingotto has recorded a record result in nearly 1.4 billion. The Italian-American home has finally registered an excellent performance also with regard to both the net profit that was hoisted to 478 million (451 million in more than 27 of the corresponding period in 2015) and adjusted net profit (grew up in 451 million from the 31 of 2015).

On the stock exchange, however, all this was not enough. Net industrial debt, which at December 31, 2015 was just over $ 5 billion in three months rose to almost 6.6 billion in an amount exceeding the broker estimates (which attendvano 6.4 billion) and this has undermined the title on the list. The note explained that the worsening of the Lingotto is related to seasonal EFFETI and also to currency translation. Additionally CEO Sergio Marchionne in the conference call that followed the publication of accounts, has reassured the commitment of the management on the debt. “We remain committed to debt reduction,” said the number one of the Lingotto. But this was not enough to stock traders who in recent days had already set its sights on the amount of debt which the discriminant proprioe investment choices.

The confidence of society in the reduction debt, however, is confirmed by the fact that the automaker has also confirmed the target for the whole year which target sales more than 110 billion, adjusted EBIT to over 5 billion and a profit of more than 1.9 billion. And above net industrial debt under 5 billion.