Cnh: quarter in red, longer times for spin offs – Last Hour


(ANSA) – TURIN, MAY 06 – Cnh Industrial closes the red in red
first quarter due to the impact of Coronavirus and announces
longer times for the spin off of Iveco trucks and buses and of the
FPT engines, a project that goes ahead anyway. No estimate comes
given to the market, due to uncertainty, on the current year.

The quarterly accounts show a loss of 54 million
dollars compared to a net profit of 264 million dollars
for the same period of 2019. Consolidated revenues are equal to
$ 5.5 billion, down 15% “” Ours
available liquidity is $ 9.9 billion at 31
March 2020, the second highest level in the history of
our company at the end of the first quarter, providing a
solid cash base and a space within our lines
credit to face such an uncertain and challenging context “,
emphasizes Suzanne Heywood, president and CEO pro tempore che
assures: “we will emerge from this public health crisis as
a stronger and more efficient company “. (ANSA).


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