(image: Korea Bizwire/Kobiz Media)
LONDON, Jan. 23 (Korea Bizwire) — The following is an extract from the “CNH Industrial 2018 fourth quarter and full year results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: cnhindustrial.com/en-us/media/press_releases/ or consulting the accompanying PDF:
CNH Industrial reported strong Q4 and full year 2018 results.
Consolidated revenues of $29.7 billion, with net income of $1.1 billion or $0.78 per share.
Net industrial debt at $0.6 billion
Financial results presented under U.S. GAAP
- Industrial Activities net sales in 2018 were up 8% compared to 2017 (up 7% on a constant currency basis), with solid growth in all segments
- Adjusted EBIT of Industrial Activities increased almost 40% to $1,585 million, with a 5.7% margin (up 1.3 percentage points). Adjusted EBITDA of Industrial Activities was $2,671 million, with a 9.6% margin (up 1.1 percentage points)
- Adjusted net income was $1,117 million (a $466 million increase compared to 2017), with adjusted diluted EPS of $0.80 (up 74% compared to 2017)
- Net industrial debt at December 31, 2018 was $0.6 billion, a one third decrease compared to December 31, 2017
- On December 3, Moody’s Investors Service upgraded the senior unsecured ratings of CNH Industrial N.V. and its subsidiaries CNH Industrial Capital LLC and CNH Industrial Finance Europe S.A. from “Ba1” to “Baa3” with a “stable” outlook
- The Board of Directors is recommending a dividend of €0.18 per common share, or approximately €244 million (~$278 million), an increase of approximately 30%
- For 2019, CNH Industrial expects net sales of Industrial Activities at approximately $28 billion, and adjusted diluted EPS between $0.84 and $0.88. Net industrial debt expected between $0.4 billion and $0.2 billion
- As announced on January 14, 2019, the Company has started a strategic assessment of its businesses, including the determination of targets for each of them, which will culminate in the presentation of a new Strategic Business Plan in a Capital Markets Day to be scheduled in the course of 2019
Attachment
Source: CNH Industrial N.V. via GLOBE NEWSWIRE
