Chrysler Group LLC Reports Financial Results for the Period Ended June 30, 2010
CHRYSLER GROUP ACHIEVED A POSITIVE OPERATING PROFIT OF $183 MILLION IN THE SECOND QUARTER AND POSITIVE CASH FLOW OF $474 MILLION, FURTHER STRENGTHENING CASH POSITION TO $7,841 MILLION AS AT JUNE 30, 2010
AUBURN HILLS, Mich., Aug. 9 /PRNewswire/ --
* Net Revenues in Q2 2010 increased to $10.5 billion, up 8.2 percent from $9.7 billion in Q1 2010.
* Operating Profit(a) came in at $183 million, an improvement of $40 million versus Q1 2010.
* Modified EBITDA(a,b) was $855 million (8.2 percent of Net Revenues), a $68 million increase from Q1 2010.
* Net Loss reduced to $172 million in Q2 2010 due to improved operating profit.
* Cash(c) at June 30, 2010 increased to $7.8 billion, bringing total available liquidity to more than $10 billion. Net Industrial Debt(d) decreased to $3.4 billion.
* Market share improved to 9.4 percent in the U.S., from 9.1 percent in Q1 2010; Canada market share remained strong at 12.9 percent in Q2 2010.
* 2010 guidance remains unchanged (including a minimum of operating breakeven), but will probably be revised upwards on the basis of Q3 2010 results.
Chrysler Group LLC today issued its financial results for the second quarter 2010.
In Q2 2010, Net Revenues increased to $10,478 million representing an 8.2 percent improvement over the prior quarter. First half 2010 Net Revenues totaled $20,165 million.
The Company ended Q2 2010 with an Operating Profit(a) of $183 million and a first half 2010 Operating Profit of $326 million.