DETROIT May 6 Fiat Chrysler said on
Tuesday it expects to increase its net profit fivefold by 2018
to around 5 billion euros ($6.97 billion), boosted by a major
increase in sales of its Jeep SUVs and an overhaul of its sporty
Alfa Romeo brand.
In a 2014-2018 business plan, the world's seventh-largest
carmaker said it expects revenue to rise to around 132 billion
euros ($183.92 billion) by 2018 from 86.8 billion euros last
year, while sales volumes are seen increasing to around 7
million vehicles from 4.4 million.
Net industrial debt is seen peaking at around 11 billion
euros in 2015, up from an adjusted 9.7 billion at the end of
2013, while total capex and R&D spending over the 2014-18 period
is forecast at around 48 billion euros, averaging around 9.5
billion euros per year.
The company said no capital increases and no dividends are
included in the 2014-18 plan. The company plans to complete the
move of its primary listing to the New York Stock Exchange by
the end of this year, and plans to achieve investment grade
credit metrics by 2017.
($1 = 0.7177 euro)
(Reporting by Agnieszka Flak and Bernie Woodall in Detroit;
editing by Matthew Lewis)