A Fiat logo is seen on the wheel of a Fiat car in Turin in this picture taken February 10, 2013. REUTERS/Stefano Rellandini/Files

MILAN (Reuters) – Fiat Chrysler (FCA) shares fell nearly 10 percent on Thursday after the carmaker gave a weaker-than-expected guidance for profits and industrial cash flow at the group this year.

The world’s seventh-largest carmaker said it expects to report 2019 adjusted earnings before interest and tax (EBIT), excluding the Magneti Marelli unit it agreed to sell, of more than 6.7 billion euros ($7.59 billion), below analysts expectations of around 7.3 billion euros.

FCA said 2018 adjusted EBIT, excluding Magneti Marelli, came in at 6.7 billion euros.

Milan-listed FCA shares were down 9.8 percent by 1203 GMT, underperforming a 1.6 percent fall in Milan’s blue-chip index.

($1 = 0.8828 euros)

Reporting by Agnieszka Flak, editing by Silvia Aloisi


Source link

قالب وردپرس