Category Archives: financial results

Stellantis Reports Legacy FCA, PSA 2020 Financial Results

Nonetheless Stellantis was profitable in 2020 despite COVID-19 with 7.1% Automotive adjusted operating margin at €3.4 billion. Its 9.4% H2 Automotive adjusted operating margin was a record. The net result of group share was €2.2 billion with €2.7 billion Automotive free cash flow and a €13.2 billion Automotive net financial position. Continue reading

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Daimler Earns €4.0 billion in 2020

During 2020, net profit improved to €4.0 billion (2019: €2.7 billion). Net profit attributable to the shareholders of Daimler AG amounted to €3.6 billion (2019: €2.4 billion), leading to an increase in earnings per share to €3.39 (2019: €2.22). At the Annual General Meeting on 31March 31, 2021 the Board of Management and the Supervisory Board will propose a dividend of €1.35 per share (2019: €0.90). Total payout will amount to €1.4 billion (2019: €1.0 billion). Continue reading

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Groupe Renault Posts 2020 Loss of -€8.5 Billion

The disastrous results take into account an increase of charges related to restructuring costs and impairments of almost a €1 billion. Net income of -€8,046 million (-€660 million in H2) compared to €19 million in 2019.  However, a  negative Automotive operational free cash flow of -€4,551 million is distressing even with a positive contribution of €1,824 million in H2. Continue reading

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Porsche SE Profit For Fiscal Year 2020 Forecast at €2.6 Billion

The group result after tax of Porsche SE is influenced significantly by its equity result from the capital stake in Volkswagen AG of currently about 31.4%, and thus by the group result after tax of Volkswagen AG. Continue reading

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Pandemic Negative Impact on Global Auto Industry Is Permanent. Debate is over How Bad and Who Gets Hurt

LMC says globally the Pandemic recovery is a K-shaped curve. There are winners and losers. Continue reading

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General Motors Posts 2020 Earnings of $6.4 Billion. Q4 at $2.8B

GM Financial reported record full-year EBT-adjusted of $2.7 billion. GM North America posted full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4%. GM International lost money at a full-year EBIT-adjusted of $(0.5) billion with China Equity Income of $0.5 billion. Cruise struggled with a full-year EBIT-adjusted loss of $(0.9) billion. Continue reading

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Herd Immunity? Toyota Motor Reports $9.87 Billion Q3 FY 2021 Profit. Ups Forecast by +54%

Toyota Motor, the world’s largest automaker posted a $9.87 billion Q3 FY Profit compared to $9.45b during the same period one year ago, in what appears to be Toyota herd immunity from the Covid-19 virus and variants that are killing other automakers. As a result of the strong showing upholding Akio Toyota’s vow to remain profitable despite the ongoing Global Pandemic, Toyota increase its yearly forecast by 54%. Toyota now predicts a record operating profit $19.13 billion (¥2 trillion), surpassing an earlier projection of ¥1.3 trillion. Continue reading

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Nissan Losses ¥37.8 Billion in Q3. Alliance Still Shaky

As for the unstable Alliance post-Ghosn, “Nissan’s results during the Q3 of fiscal year 2020/2021 (October 1st to December 31st 2020), after IFRS restatements, will have a negative contribution to Renault’s Q4 2020 net income estimated at – €123 million,” Renault said in a separate release. Continue reading

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Ford Motor 2020 Loss $1.3 Billion. Microchip Shortage Looms

Chasing General Motors, Ford said it would increase its planned investments in electric and autonomous vehicles to more than $22 billion and $7 billion in turn through 2025. GM caught the industry by surprise when it said it would have 30 new EVs globally during roughly that period. It was the latest Ford attempt to appease the capital markets which remain skeptical about the lackluster performance of the Dearborn based automaker. Continue reading

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Mazda Increases Forecast for Fiscal Year Ending March 31

In a victory of sorts over COVID19, Mazda Motor Corporation today revised upwards its consolidated financial forecast for the Fiscal Year Ending  31 March 2021. Nevertheless Mazda is still losing money and is in a perilous, company-threatening position with huge soaring debt and ongoing breathtaking operating losses. Continue reading

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Daimler to Spin-Off Daimler Truck into Separate Company

Actually, current Daimler shareholders will be Mercedes-Benz holders since the Daimler name will be recast as Mercedes-Benz at “the appropriate time.” Both companies, whatever they are called, are in mobility industries that are facing disruptive technological and structural changes that threaten survival. Continue reading

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Penske Automotive Group Increases Dividend

With this increase, the annualized dividend is $1.72 per share and represents a yield of 2.7%, the highest in our peer group.  Our business and cash flow remain strong despite the Covid-19 pandemic, as the actions we took to mitigate its impact continue to provide operational benefits,” said President Robert K. Kurnick. Continue reading

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BMW Says It’s Solvent, Marginally Profitable During 2020

The positive operating result of the Automotive segment in the fourth quarter is partially due to “better than expected re-marketing results in the pre-owned car market.” This of course has a positive effect in the Financial Services segment, leading to a Return on Equity for the segment which is only slightly down on prior year as opposed to a moderate decline as indicated in the current outlook. However, the EBIT margin in the Automotive Segment for the full year 2020 is at the “upper end of the 0 – 3% corridor.” The Group EBT remains within the outlook and in line with market expectations. Continue reading

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Stellantis – a Mega Merger of Auto Companies Names Execs

Today Stellantis officially announced its Executive Team along with the 9 dedicated committees* covering enterprise-wide performance and strategy for running the merged FCA and PSA companies. It is the latest merger in the capital-destroying automotive industry that seeks to pursue … Continue reading

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Porsche Q3 in Black at €437 Million Because of VW

Porsche SE’s positive result after tax basically comes from the profit from an investment accounted for at equity in Volkswagen AG of €505 million (prior-year period: €3.58 billion. Porsche Se is the largest holder of VW common stock). The business of the Volkswagen Group was affected by the Covid-19 pandemic in the first nine months of 2020 but made a recovery in the third quarter. Nonetheless both groups remain in difficult if not precarious financial positions. Continue reading

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