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Fiat Chrysler Automobiles Posts Loss From Cont. Ops. In Q2; Net Revenues Down 56%

Fiat Chrysler Automobiles NV (FCAU) reported a second quarter loss from continuing operations of 1.05 billion euros compared to profit of 793 million euros, previous year. Loss per share from continuing operations was 0.66 euros compared to profit of 0.50 euros. Adjusted EBIT was negative at 928 million euros compared to profit of 1.53 billion euros. Adjusted loss per share was 0.65 euros compared to profit of 0.59 euros.

Second quarter IFRS net revenues were 11.71 billion euros, a decline of 56% from previous year. Worldwide combined shipments were 424 thousand units, down 63%, due to pandemic-related production stoppages and demand disruptions.

Available Liquidity was 17.5 billion euros at June 30, 2020, which excludes the 4.5 billion euros undrawn portion of the new 6.3 billion euros Intesa Sanpaolo facility entered into in June.

The company noted that its results and operating cash flows significantly improved in June.

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