UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2019
Commission File No. 001-36675
Fiat Chrysler Automobiles N.V.
(Translation of Registrant’s Name Into English)
25 St. James's Street
London SW1A 1HA
United Kingdom
Tel. No.: +44 (0) 20 7766 0311
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F þ Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)
(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)
(7): ¨
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No þ
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
The following exhibits are furnished herewith:
Exhibit 99.1 | Supplemental Information for the year ended December 31, 2018 |
Exhibit 99.2 | Supplemental Information for the year ended December 31, 2018 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 28, 2019 | FIAT CHRYSLER AUTOMOBILES N.V. | |||
By: /s/ Richard K. Palmer | ||||
Name: Richard K. Palmer | ||||
Title: Chief Financial Officer | ||||
Index of Exhibits
Exhibit Number | Description of Exhibit |
Exhibit 99.1 | Supplemental Information for the year ended December 31, 2018 |
Exhibit 99.2 | Supplemental Information for the year ended December 31, 2018 |
Exhibit 99.1
Income Statement by activity
Unaudited
For the Year Ended December 31, 2018 | For the Year Ended December 31, 2017 | |||||||||||||||||
(€ million) | Group | Industrial activities | Financial services | Group | Industrial activities | Financial services | ||||||||||||
Net revenues | 110,412 | 110,171 | 341 | 105,730 | 105,527 | 296 | ||||||||||||
Cost of revenues | 95,011 | 94,910 | 201 | 89,710 | 89,612 | 191 | ||||||||||||
Selling, general and other costs | 7,318 | 7,286 | 32 | 7,177 | 7,145 | 32 | ||||||||||||
Research and development costs | 3,051 | 3,051 | — | 2,903 | 2,903 | — | ||||||||||||
Result from investments | 235 | 40 | 195 | 399 | 209 | 190 | ||||||||||||
Reversal of a Brazilian indirect tax liability | — | — | — | 895 | 895 | — | ||||||||||||
Gains on the disposal of investments | — | — | — | 76 | 76 | — | ||||||||||||
Restructuring costs | 103 | 103 | — | 86 | 84 | 2 | ||||||||||||
Net financial expenses | 1,056 | 1,056 | — | 1,345 | 1,345 | — | ||||||||||||
Profit before taxes | 4,108 | 3,805 | 303 | 5,879 | 5,618 | 261 | ||||||||||||
Tax expense | 778 | 735 | 43 | 2,588 | 2,561 | 27 | ||||||||||||
Result from intersegment investments | — | 260 | — | — | 234 | — | ||||||||||||
Net profit from continuing operations | 3,330 | 3,330 | 260 | 3,291 | 3,291 | 234 | ||||||||||||
Profit from discontinued operations, net of tax | 302 | 302 | — | 219 | 219 | — | ||||||||||||
Net profit | 3,632 | 3,632 | 260 | 3,510 | 3,510 | 234 | ||||||||||||
Adjusted EBIT | 6,738 | 6,435 | 303 | 6,609 | 6,346 | 263 | ||||||||||||
For the years ended December 31, 2018 and 2017, the Adjusted EBIT related to Magneti Marelli that was excluded from the Group's Adjusted EBIT result was €546 million and €445 million, respectively, net of intercompany eliminations. The Adjusted EBIT for Magneti Marelli related to Industrial activities only.
Statement of Financial Position by activity
Unaudited
At December 31, 2018 | At December 31, 2017 | |||||||||||||||||
(€ million) | Group | Industrial activities | Financial services | Group | Industrial activities | Financial services | ||||||||||||
Goodwill and intangible assets with indefinite useful lives | 13,970 | 13,970 | — | 13,390 | 13,390 | — | ||||||||||||
Other intangible assets | 11,749 | 11,745 | 4 | 11,542 | 11,539 | 3 | ||||||||||||
Property, plant and equipment | 26,307 | 26,305 | 2 | 29,014 | 29,012 | 2 | ||||||||||||
Investments and other financial assets | 2,979 | 3,364 | 1,416 | 2,977 | 3,356 | 1,228 | ||||||||||||
Deferred tax assets | 1,814 | 1,778 | 36 | 2,004 | 1,955 | 49 | ||||||||||||
Inventories | 10,694 | 10,694 | — | 12,922 | 12,922 | — | ||||||||||||
Assets sold with a buy-back commitment | 1,707 | 1,707 | — | 1,748 | 1,748 | — | ||||||||||||
Trade receivables | 2,048 | 2,050 | 20 | 2,460 | 2,461 | 19 | ||||||||||||
Receivables from financing activities | 3,614 | 1,213 | 3,697 | 3,140 | 1,356 | 2,906 | ||||||||||||
Tax receivables | 490 | 483 | 7 | 298 | 293 | 5 | ||||||||||||
Other assets | 4,250 | 4,239 | 11 | 4,166 | 4,157 | 9 | ||||||||||||
Cash and cash equivalents | 12,450 | 12,275 | 175 | 12,638 | 12,423 | 215 | ||||||||||||
Assets held for sale | 4,801 | 4,861 | — | — | — | — | ||||||||||||
TOTAL ASSETS | 96,873 | 94,684 | 5,368 | 96,299 | 94,612 | 4,436 | ||||||||||||
Equity and Liabilities | ||||||||||||||||||
Equity | 24,903 | 24,903 | 1,782 | 20,987 | 20,987 | 1,598 | ||||||||||||
Employee benefits liabilities | 8,470 | 8,468 | 2 | 9,278 | 9,276 | 2 | ||||||||||||
Provisions | 16,044 | 16,054 | 9 | 14,779 | 14,777 | 11 | ||||||||||||
Deferred tax liabilities | 937 | 937 | — | 388 | 388 | — | ||||||||||||
Debt | 14,528 | 12,379 | 3,364 | 17,971 | 16,461 | 2,632 | ||||||||||||
Trade payables | 19,229 | 19,221 | 18 | 21,939 | 21,939 | 8 | ||||||||||||
Other financial liabilities | 207 | 207 | — | 139 | 139 | — | ||||||||||||
Tax payables | 115 | 97 | 28 | 383 | 370 | 22 | ||||||||||||
Other liabilities | 9,509 | 9,346 | 165 | 10,435 | 10,275 | 163 | ||||||||||||
Liabilities held for sale | 2,931 | 3,072 | — | — | — | — | ||||||||||||
TOTAL EQUITY AND LIABILITIES | 96,873 | 94,684 | 5,368 | 96,299 | 94,612 | 4,436 | ||||||||||||
Statement of Cash Flows by activity
Unaudited
For the Year Ended December 31, 2018 | For the Year Ended December 31, 2017 | |||||||||||||||||
(€ million) | Group | Industrial activities | Financial services | Group | Industrial activities | Financial services | ||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||||
Net profit from continuing operations | 3,330 | 3,330 | 260 | 3,291 | 3,291 | 234 | ||||||||||||
Amortization and depreciation | 5,507 | 5,506 | 1 | 5,474 | 5,473 | 1 | ||||||||||||
Net losses/(gains) on disposal of non-current assets and other non-cash items | 130 | 67 | (197 | ) | (257 | ) | (316 | ) | (175 | ) | ||||||||
Dividends received | 75 | 113 | — | 102 | 115 | — | ||||||||||||
Change in provisions | 913 | 913 | — | 545 | 543 | 2 | ||||||||||||
Change in deferred taxes | 457 | 448 | 9 | 1,075 | 1,076 | (1 | ) | |||||||||||
Change in items due to buy-back commitments | 158 | 158 | — | (11 | ) | (11 | ) | — | ||||||||||
Change in working capital | (1,106 | ) | (1,130 | ) | 24 | (539 | ) | (637 | ) | 98 | ||||||||
Cash flows from operating activities - discontinued operations | 484 | 484 | — | 705 | 705 | — | ||||||||||||
TOTAL | 9,948 | 9,889 | 97 | 10,385 | 10,239 | 159 | ||||||||||||
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES: | ||||||||||||||||||
Investments in property, plant and equipment and intangible assets | (5,392 | ) | (5,389 | ) | (3 | ) | (8,105 | ) | (8,102 | ) | (3 | ) | ||||||
Investment in joint ventures, associates and unconsolidated subsidiaries | (3 | ) | (3 | ) | — | (9 | ) | (9 | ) | — | ||||||||
Proceeds from the sale of non-current assets | 47 | 46 | 1 | 58 | 57 | 1 | ||||||||||||
Net change in receivables from financing activities | (676 | ) | 84 | (760 | ) | (836 | ) | (205 | ) | (631 | ) | |||||||
Change in current securities | (75 | ) | (75 | ) | — | 174 | 139 | 35 | ||||||||||
Other changes | (7 | ) | (7 | ) | — | (8 | ) | (8 | ) | — | ||||||||
Cash flows used in investing activities - discontinued operations | (632 | ) | (632 | ) | — | (570 | ) | (570 | ) | — | ||||||||
TOTAL | (6,738 | ) | (5,976 | ) | (762 | ) | (9,296 | ) | (8,698 | ) | (598 | ) | ||||||
For the Year Ended December 31, 2018 | For the Year Ended December 31, 2017 | |||||||||||||||||
(€ million) | Group | Industrial activities | Financial services | Group | Industrial activities | Financial services | ||||||||||||
CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES: | ||||||||||||||||||
Net change in debt and other financial assets/liabilities | (2,705 | ) | (3,380 | ) | 675 | (4,284 | ) | (4,818 | ) | 534 | ||||||||
Distributions paid | (1 | ) | (1 | ) | (38 | ) | (1 | ) | (1 | ) | (13 | ) | ||||||
Other changes | 11 | 11 | — | (2 | ) | (2 | ) | — | ||||||||||
Cash flows used in financing activities - Discontinued operations | (90 | ) | (90 | ) | — | (186 | ) | (186 | ) | — | ||||||||
TOTAL | (2,785 | ) | (3,460 | ) | 637 | (4,473 | ) | (5,007 | ) | 521 | ||||||||
Translation exchange differences | 106 | 118 | (12 | ) | (1,296 | ) | (1,278 | ) | (18 | ) | ||||||||
TOTAL CHANGE IN CASH AND CASH EQUIVALENTS | 531 | 571 | (40 | ) | (4,680 | ) | (4,744 | ) | 64 | |||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD | 12,638 | 12,423 | 215 | 17,318 | 17,167 | 151 | ||||||||||||
TOTAL CHANGE IN CASH AND CASH EQUIVALENTS | 531 | 571 | (40 | ) | (4,680 | ) | (4,744 | ) | 64 | |||||||||
LESS: CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD - INCLUDED WITHIN ASSETS HELD FOR SALE | 719 | 719 | — | — | — | — | ||||||||||||
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | 12,450 | 12,275 | 175 | 12,638 | 12,423 | 215 | ||||||||||||
Net debt breakdown - Unaudited €B Exhibit 99.2 Sept. 30, ’18(*) Dec. 31, ‘18(*) Cons. Ind. Fin. Cons. Ind. Fin. (15.4) (12.9) (2.5) Gross Debt (**) (14.7) (11.7) (3.0) 0.4 0.4 - Fin. Receiv. from Fin.Co. JV 0.2 0.2 - 0.3 0.3 0.0 Derivatives M-to-M, Net 0.1 0.1 0.0 12.3 12.1 0.2 Cash & marketable securities 13.4 13.2 0.2 (2.5) (0.2) (2.3) Net cash/(debt) (0.9) 1.9 (2.8) (*): Amounts include Magneti Marelli for comparability with prior periods and previously provided guidance (**): net of Intersegment receivables Note: Numbers may not add due to rounding Q4 2018 Results Q4 2018 Additional Information: Debt Feb.Feb 26,28, 2019 1
Gross debt breakdown - Unaudited €B Outstanding Outstanding Sept. 30, ’18(*) Dec. 31, ’18(*) (15.0) Cash maturities (14.3) (6.3) Bank debt (5.5) (8.1) Capital markets debt (8.1) (0.7) Other debt (0.6) (0.4) Asset-backed financing (0.5) 0.0 Accruals 0.1 (15.4) Gross Debt (14.7) 0.4 Fin. Receiv. from Fin.Co. JV 0.2 (15.1) Gross debt (net of Fin. Receiv. from Fin.Co. JV) (14.5) 12.3 Cash & marketable securities 13.4 0.3 Derivatives assets/(liabilities) 0.1 (2.5) Net cash/(debt) (0.9) 7.7 Undrawn committed revolving facilities 7.7 (*): Amounts include Magneti Marelli for comparability with prior periods and previously provided guidance Note: Numbers may not add due to rounding Q4 2018 Results Q4 2018 Additional Information: Debt Feb.Feb 26,28, 2019 2
Debt maturity schedule - Unaudited €B Outstanding Dec. 31, ’18* 2019* 2020* 2021* 2022* 2023* Beyond* 5.5 Bank debt 3.2 0.8 0,4 0.7 0.2 0.2 8.1 Capital markets debt 1.8 1.3 1.0 1.4 1.3 1.3 0.6 Other debt 0.5 0.1 0.0 0.0 0.0 0.0 14.3 Total cash maturities ** 5.5 2.2 1.4 2.1 1.6 1.5 13.4 Cash and marketable securities 7.7 Undrawn committed revolving facilities 21.1 Total available liquidity Sale of receivables (IFRS de-recognition 8.6 compliant) of which receivables sold to financial 5.5 services JVs (FCA Bank) Note: Numbers may not add due to rounding *: Amounts include Magneti Marelli for comparability with prior periods and previously provided guidance ** Excludes accruals and Asset backed financing (€ 0.5B in December 2018). Total Debt vs Third Parties € 14.7B Q4 2018 Results Q4 2018 Additional Information: Debt Feb.Feb 26,28, 2019 3