Fiat Group has reported revenue of EUR84bn, up 12% year on year, and net profit of EUR1.4bn for 2012 as vehicle shipments rose 6% year on year. There was growth in all regions except Europe. Luxury and performance brands posted 7% revenue growth.

Trading profit was EUR3.8bn, with strong performances in NAFTA (thanks to healthy results at Chrysler; EUR2.7bn), Latin America (EUR1.1bn) and Asia-Pacific (EUR0.3bn) while Europe saw a trading loss of EUR0.7bn. Luxury and performance brands improved trading profit by 11% to EUR0.4bn.

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NAFTA revenue was up 29% and APAC  by 50%. Europe (EMEA) declined 11% after continued falling demand, particularly in Italy. Luxury and performance brands posted a 7% increase in revenues to EUR2.9bn, mainly driven by growth in North America and Asia Pacific. Components revenues were substantially flat at EUR8.0bn.

Trading profit was EUR3,814m, up 18% year on year, APAC reported EUR260m, nearly double the prior year, and EMEA booked a loss of EUR704m. Growth for luxury and performance brands continued with trading profit increasing EUR40m to EUR392m. Components contributed EUR176m.

Profit before taxes was EUR2,036m. Excluding Chrysler, there was a loss of EUR621m, compared with a profit of EUR1,470m in 2011.

Net profit was EUR1,411m. Excluding Chrysler, net result was a EUR1,041m loss, compared with a EUR1,006m profit for 2011; excluding unusuals, there was a EUR780m loss, compared with a EUR106m loss for 2011.

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Vehicle shipments in NAFTA totaled 2,115,000 units for 2012, representing a 19% increase over 2011, on a pro-forma basis. Vehicle shipments were 1,748,000 in the U.S. (up 20% over 2011 on a pro-forma basis), 255,000 in Canada, up 9%, and 98,000 in Mexico, up 17%.

Vehicle sales in the NAFTA region totaled 1,989,000 for 2012, an increase of 18% over 2011. In the US, vehicle sales growth continued with a 21% increase to 1,652,000 units, closing the year with 33 consecutive months of year-over-year sales gains. In Canada, sales increased 6% to 244,000 vehicles, and in Mexico, sales were up 10% to 93,000 vehicles.

The US vehicle market was up 13% in 2012 to 14.8m vehicles. Group share increased to 11.2% from 10.5% for the prior year.

The Canadian vehicle market grew 6% year-over-year to 1.7m vehicles. Total market share was 14.2% for the year (14.3% in 2011). Key performers included the Chrysler 200 (+97%) and 300 (+89%), and Jeep Wrangler (+21%).

Fiat 500 sales in the U.S. and Canada totaled 52,000 vehicles for the year, compared to 25,000 vehicles in 2011 when the vehicle was launched.

2013 outlook                                                   

The group confirmed guidance for 2013:

Revenues in EUR88 – EUR92bn range;

Trading profit in EUR4.0 – EUR4.5bn range;

Net profit in EUR1.2 – EUR1.5bn range