Cnh reduces revenues and revises targets

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INDUSTRIAL MEANS

In the third quarter turnover down 5% to 6.4 billion dollars – Year targets updated: revenues are expected between 26.5 and 27 billion (they were expected at 28)

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Cnh Industrial closes the third quarter with consolidated revenues of 6.4 billion dollars, down 5% compared to the same period of 2018 (-3% at constant exchange rates), and a net profit of 643 million dollars, in
58.6% growth thanks to a non-cash tax benefit of 539 million and an adjusted net profit of 221 million dollars, $ 0.16 per share. The net debt of industrial activities is $ 2.4 billion, up $ 0.9 billion compared to June 30, 2019.

Cnh has updated the objectives of the year: expected net sales of industrial assets now between 26.5 and 27 billion dollars (they were expected to
about 28 billion dollars) with adjusted diluted earnings per share confirmed between 0.84 and 0.88 dollars. Net industrial debt of $ 0.6 billion to $ 0.4 billion (it was expected to be between $ 0.4 billion and $ 0.2 billion), which mainly reflects the merger and acquisition activity announced as of September 3. t

"These third quarter results, achieved in a difficult market environment – comments Hubertus Muhlhauser, CEO of Cnh Industrial –
they underline the rationale behind our Transform 2 Win strategy, which is laying the foundations of our path in terms of profitability, as recently announced during our Capital Markets Day. This strategy will also allow our business to go through the current volatility of the final market and to prepare our company to complete, at the beginning of January 2021, the planned spin-off of our on-highway activity, as previously announced ".



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https://www.ilsole24ore.com/art/cnh-riduce-ricavi-e-rivede-target-ACSnp9w

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