6-K Cover Page Supplemental Info 2019.12.31


 

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 March 2020
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 x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): o










 









The following exhibits are furnished herewith:

Exhibit 99.1
Supplemental Information for the year ended December 31, 2019
Exhibit 99.2
Supplemental Information for the year ended December 31, 2019



    
    
    









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: March 3, 2020
 
 
 FIAT CHRYSLER AUTOMOBILES N.V.
 
 
 
 
 
 
 
 
By: /s/ Richard K. Palmer
 
 
 
 
 
 
 
 
Name: Richard K. Palmer
 
 
 
Title: Chief Financial Officer and Director


                                                                                           
                            
                                    







Index of Exhibits

Exhibit Number
Description of Exhibit
Exhibit 99.1
Supplemental Information for the year ended December 31, 2019
Exhibit 99.2
Supplemental Information for the year ended December 31, 2019



Additional Information Financial Data by Activity 2019.12.31
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Exhibit 99.1
Income Statement by activity
Unaudited
 
 
For the Year Ended December 31, 2019
 
 
For the Year Ended December 31, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Net revenues
 
108,187

 
107,976

 
338

 
110,412

 
110,171

 
341

Cost of revenues
 
93,164

 
93,095

 
196

 
95,011

 
94,910

 
201

Selling, general and other costs
 
6,455

 
6,432

 
23

 
7,318

 
7,286

 
32

Research and development costs
 
3,612

 
3,612

 

 
3,051

 
3,051

 

Result from investments
 
209

 
(20
)
 
229

 
235

 
40

 
195

Gains on the disposal of investments
 
15

 
15

 

 

 

 

Restructuring costs
 
154

 
154

 

 
103

 
103

 

Net financial expenses
 
1,005

 
1,005

 

 
1,056

 
1,056

 

Profit before taxes
 
4,021

 
3,673

 
348

 
4,108

 
3,805

 
303

Tax expense
 
1,321

 
1,283

 
38

 
778

 
735

 
43

Result from intersegment investments
 

 
310

 

 

 
260

 

Net profit from continuing operations
 
2,700

 
2,700

 
310

 
3,330

 
3,330

 
260

Profit from discontinued operations, net of tax
 
3,930

 
3,930

 

 
302

 
302

 

Net profit
 
6,630

 
6,630

 
310

 
3,632

 
3,632

 
260

 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
 
6,668

 
6,321

 
347

 
6,738

 
6,435

 
303


For the years ended December 31, 2019, until its deconsolidation on completion of the sale transaction on May 2, 2019, and 2018, the Adjusted EBIT related to Magneti Marelli that was excluded from the Group's Adjusted EBIT result was €218 million and €546 million, respectively, net of intercompany eliminations. The Adjusted EBIT for Magneti Marelli related to Industrial activities only.





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Statement of Financial Position by activity
Unaudited
 
 
At December 31, 2019
 
 
At December 31, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill and intangible assets with indefinite useful lives
 
14,257

 
14,257

 

 
13,970

 
13,970

 

Other intangible assets
 
12,447

 
12,442

 
5

 
11,749

 
11,745

 
4

Property, plant and equipment
 
28,608

 
28,605

 
3

 
26,307

 
26,305

 
2

Investments and other financial assets
 
3,019

 
3,467

 
1,549

 
2,979

 
3,364

 
1,416

Deferred tax assets
 
1,689

 
1,660

 
29

 
1,814

 
1,778

 
36

Inventories
 
9,722

 
9,722

 

 
10,694

 
10,694

 

Assets sold with a buy-back commitment
 
1,626

 
1,626

 

 
1,707

 
1,707

 

Trade receivables
 
2,064

 
2,067

 
30

 
2,048

 
2,050

 
20

Receivables from financing activities
 
3,155

 
1,106

 
3,176

 
3,614

 
1,213

 
3,697

Tax receivables
 
466

 
459

 
7

 
490

 
483

 
7

Other assets
 
5,601

 
5,594

 
7

 
4,250

 
4,239

 
11

Cash and cash equivalents
 
15,014

 
14,867

 
147

 
12,450

 
12,275

 
175

Assets held for sale
 
376

 
376

 

 
4,801

 
4,861

 

TOTAL ASSETS
 
98,044

 
96,248

 
4,953

 
96,873

 
94,684

 
5,368

Equity and Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
28,675

 
28,675

 
1,995

 
24,903

 
24,903

 
1,782

Employee benefits liabilities
 
9,051

 
9,049

 
2

 
8,470

 
8,468

 
2

Provisions(1)   
 
14,005

 
14,000

 
7

 
15,807

 
15,817

 
9

Deferred tax liabilities
 
1,628

 
1,628

 

 
937

 
937

 

Debt
 
12,901

 
11,278

 
2,750

 
14,528

 
12,379

 
3,364

Trade payables
 
21,616

 
21,610

 
26

 
19,229

 
19,221

 
18

Other financial liabilities
 
318

 
318

 

 
207

 
207

 

Tax liabilities(1)
 
400

 
378

 
27

 
352

 
334

 
28

Other liabilities
 
9,214

 
9,072

 
146

 
9,509

 
9,346

 
165

Liabilities held for sale
 
236

 
240

 

 
2,931

 
3,072

 

TOTAL EQUITY AND LIABILITIES
 
98,044

 
96,248

 
4,953

 
96,873

 
94,684

 
5,368

_______________________________________________________________________________________________________________________________________________
(1) As a result of the implementation of IFRIC 23 and the agenda decision issued by the IFRIC in September 2019, the Group has changed its accounting policy in respect of the classification of uncertain tax positions, to present uncertain tax liabilities as current tax liabilities and uncertain tax assets as current tax assets. Amounts totaling €237 million have been reclassified from Provisions to Tax liabilities as at December 31, 2018.


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Statement of Cash Flows by activity
Unaudited


 
For the Year Ended December 31, 2019
 
 
For the Year Ended December 31, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Net profit from continuing operations
 
2,700

 
2,700

 
310

 
3,330

 
3,330

 
260

Amortization and depreciation
 
5,445

 
5,442

 
3

 
5,507

 
5,506

 
1

Net losses/(gains) on disposal of non-current assets and other non-cash items
 
1,545

 
1,458

 
(223
)
 
130

 
67

 
(197
)
Dividends received
 
156

 
161

 

 
75

 
113

 

Change in provisions(1)   
 
(1,744
)
 
(1,742
)
 
(2
)
 
842

 
842

 

Change in deferred taxes
 
864

 
858

 
6

 
457

 
448

 
9

Change in items due to buy-back commitments and GDP vehicles
 
(65
)
 
(65
)
 

 
158

 
158

 

Change in working capital(1)   
 
1,869

 
1,884

 
(15
)
 
(1,035
)
 
(1,059
)
 
24

Cash flows (used in)/from operating activities - discontinued operations
 
(308
)
 
(308
)
 

 
484

 
484

 

TOTAL
 
10,462

 
10,388

 
79

 
9,948

 
9,889

 
97

CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Investments in property, plant and equipment and intangible assets
 
(8,385
)
 
(8,383
)
 
(2
)
 
(5,392
)
 
(5,389
)
 
(3
)
Investment in joint ventures, associates and unconsolidated subsidiaries
 
(2
)
 
(2
)
 

 
(3
)
 
(3
)
 

Proceeds from the sale of tangible and intangible assets
 
53

 
53

 

 
47

 
46

 
1

Net cash proceeds from disposal of discontinued operations
 
5,348

 
5,348

 

 

 

 

Net change in receivables from financing activities
 
336

 
119

 
217

 
(676
)
 
84

 
(760
)
Change in securities
 
(235
)
 
(235
)
 

 
(75
)
 
(75
)
 

Other changes
 
55

 
55

 

 
(7
)
 
(7
)
 

Cash flows used in investing activities - discontinued operations
 
(155
)
 
(155
)
 

 
(632
)
 
(632
)
 

TOTAL
 
(2,985
)
 
(3,200
)
 
215

 
(6,738
)
 
(5,976
)
 
(762
)
CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Net change in debt and other financial assets/liabilities
 
(3,096
)
 
(2,782
)
 
(314
)
 
(2,705
)
 
(3,380
)
 
675

Distributions paid
 
(3,056
)
 
(3,056
)
 
(5
)
 
(1
)
 
(1
)
 
(38
)
Other changes
 

 

 

 
11

 
11

 

Cash flows from/(used in) financing activities - Discontinued operations
 
325

 
325

 

 
(90
)
 
(90
)
 

TOTAL
 
(5,827
)
 
(5,513
)
 
(319
)
 
(2,785
)
 
(3,460
)
 
637

    Translation exchange differences
 
212

 
215

 
(3
)
 
106

 
118

 
(12
)
TOTAL CHANGE IN CASH AND CASH EQUIVALENTS
 
1,862

 
1,890

 
(28
)
 
531

 
571

 
(40
)
 
 
 
 
 
 
 
 
 
 
 
 
 
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD
 
12,450

 
12,275

 
175

 
12,638

 
12,423

 
215

ADD: CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD - INCLUDED WITHIN ASSETS HELD FOR SALE
 
719

 
719

 

 

 

 

TOTAL CHANGE IN CASH AND CASH EQUIVALENTS
 
1,862

 
1,890

 
(28
)
 
531

 
571

 
(40
)
LESS: CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD - INCLUDED WITHIN ASSETS HELD FOR SALE
 
17

 
17

 

 
719

 
719

 

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD
 
15,014

 
14,867

 
147

 
12,450

 
12,275

 
175

_______________________________________________________________________________________________________________________________________________
(1) As a result of the implementation of IFRIC 23 and the agenda decision issued by the IFRIC in September 2019, the Group has changed its accounting policy in respect of the classification of uncertain tax positions, to present uncertain tax liabilities as current tax liabilities and uncertain tax assets as current tax assets. Cash flows totaling €71 million have been reclassified from Changes in provisions to Change in working capital for the year ended December 31, 2018.



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Net Debt by activity
Unaudited
 
 
At December 31, 2019
 
 
At December 31, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Third parties debt (Principal)
 
(12,910
)
 
(11,121
)
 
(1,789
)
 
(14,575
)
 
(12,169
)
 
(2,406
)
Capital market(1)
 
(6,676
)
 
(6,277
)
 
(399
)
 
(8,112
)
 
(7,699
)
 
(413
)
Bank debt
 
(3,868
)
 
(2,642
)
 
(1,226
)
 
(5,320
)
 
(3,772
)
 
(1,548
)
Other debt(2)
 
(726
)
 
(564
)
 
(162
)
 
(882
)
 
(437
)
 
(445
)
Lease liabilities(3)
 
(1,640
)
 
(1,638
)
 
(2
)
 
(261
)
 
(261
)
 

Accrued interest and other adjustments(4)
 
9

 
10

 
(1
)
 
47

 
47

 

Debt with third parties (excluding held for sale)
 
(12,901
)
 
(11,111
)
 
(1,790
)
 
(14,528
)
 
(12,122
)
 
(2,406
)
Debt classified as held for sale
 
(81
)
 
(81
)
 

 
(177
)
 
(177
)
 

Debt with third parties including held for sale
 
(12,982
)
 
(11,192
)
 
(1,790
)
 
(14,705
)
 
(12,299
)
 
(2,406
)
Intercompany, net(5)
 

 
792

 
(792
)
 

 
560

 
(560
)
Current financial receivables from jointly-controlled financial services companies(6)
 
83

 
83

 

 
242

 
242

 

Debt, net of intercompany, and current financial receivables from jointly-controlled financial service companies, including held for sale
 
(12,899
)
 
(10,317
)
 
(2,582
)
 
(14,463
)
 
(11,497
)
 
(2,966
)
Derivative financial assets/(liabilities), net of collateral deposits (excluding held for sale)(7)
 
(178
)
 
(178
)
 

 
151

 
150

 
1

Current debt securities(8)
 
480

 
480

 

 
219

 
219

 

Cash and cash equivalents
 
15,014

 
14,867

 
147

 
12,450

 
12,275

 
175

Cash and cash equivalents, current debt securities and Derivative financial assets/(liabilities), net, classified as held for sale(9)
 
17

 
17

 

 
725

 
725

 

Total Net cash/(debt) including held for sale
 
2,434

 
4,869

 
(2,435
)
 
(918
)
 
1,872

 
(2,790
)
Net industrial cash/(debt)(excluding held for sale)(10)
 
 
 
4,859

 
 
 
 
 
1,768

 
 
Net industrial cash/(debt) from held for sale(10)
 
 
 
10

 
 
 
 
 
104

 
 
Total Net industrial cash/(debt)
 
 
 
4,869

 
 
 
 
 
1,872

 
 
_______________________________________________________________________________________________________________________________________________
Note: The assets and liabilities of Magneti Marelli have been classified as Assets held for sale and Liabilities held for sale within the Consolidated Statement of Financial Position at December 31, 2018. The disposal of Magneti Marelli was completed on May 2, 2019. The assets and liabilities of FCA's global cast ion components business have been classified as held for sale within the Consolidated Statement of Financial Position at December 31, 2019.
(1) Includes notes issued under the Medium Term Programme, or MTN Programme, and other notes (€6,277 million at December 31, 2019 and €7,699 million at December 31, 2018) and other debt instruments (€399 million at December 31, 2019 and €413 million at December 31, 2018) issued in financial markets, mainly from LATAM financial services companies.
(2) Includes asset-backed financing, i.e. sales of receivables for which de- recognition is not allowed under IFRS (€153 million at December 31, 2019 and €464 million at December 31, 2018), and other debt.
(3) Includes Lease liabilities determined in accordance with IFRS 16 - Leases effective January 1, 2019, which resulted in an increase in Lease liabilities of €1,069 million, of which €1,067 million related to the Industrial activities. Finance leases previously included in Other debt have been reclassified to Lease liabilities.
(4) Includes adjustments for fair value accounting on debt and net (accrued)/deferred interest and other amortizing cost adjustments.
(5) Net amount between industrial activities entities' financial receivables due from financial services entities (€960 million at December 31, 2019 and €958 million at December 31, 2018) and industrial activities entities' financial payables due to financial services entities (€168 million at December 31, 2019 and €398 million at December 31, 2018).
(6) Financial receivables due from FCA Bank.
(7) Fair value of derivative financial instruments (net negative €220 million at December 31, 2019 and net positive €90 million at December 31, 2018) and collateral deposits (€42 million at December 31, 2019 and €61 million at December 31, 2018).
(8) Excludes certain debt securities held pursuant to applicable regulations (€50 million at December 31, 2019 and €72 million at December 31, 2018).
(9) At December 31, 2018 this amount included current debt securities of €9 million and there were no collateral deposits classified as held for sale.
(10) At December 31, 2018 amounts include net financial payables due from Magneti Marelli to other group companies of €444 million. At December 31, 2019 amounts include net intercompany financial payables due to activities included within assets held for sale of €74 million.


Additional Information - Debt 2019.12.31
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Exhibit 99.2
Net debt/(cash) breakdown                                                
Unaudited

 
 
December 31, 2019
 
September 30, 2019
(€ billion)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Gross debt(1)
 
13.0

 
10.4

 
2.6

 
15.1

 
12.3

 
2.8

Financial receivables from jointly-controlled financial services companies
 
(0.1
)
 
(0.1
)
 
0.0

 
(0.1
)
 
(0.1
)
 
0.0

Derivatives (mark to market), net
 
0.2

 
0.2

 
0.0

 
0.2

 
0.2

 
0.0

Cash & marketable securities
 
(15.5
)
 
(15.4
)
 
(0.1
)
 
(16.2
)
 
(16.1
)
 
(0.1
)
Net debt/(cash)
 
(2.4
)
 
(4.9
)
 
2.4

 
(1.0
)
 
(3.7
)
 
2.6

______________________________________________________________________________________________________________________________________________________________________________________________________
Note: Amounts may not add due to rounding.
(1) Amounts shown net of intersegment receivables/payables





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Gross debt breakdown
Unaudited

(€ billion)
 
Outstanding
December 31, 2019
 
Outstanding
September 30, 2019
Bank debt
 
3.9

 
4.6

Capital markets debt
 
6.7

 
8.1

Other debt
 
0.6

 
0.5

Lease liabilities
 
1.6

 
1.7

Cash maturities
 
12.8

 
14.9

Asset-backed financing
 
0.2

 
0.2

Accruals
 
0.0

 
0.0

Gross Debt
 
13.0

 
15.1

______________________________________________________________________________________________________________________________________________________________________________________________________
Note: Amounts may not add due to rounding.





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Debt Maturity Schedule
Unaudited

Outstanding
December 31, 2019
 
(€ billion)
 
2020
 
2021
 
2022
 
2023
 
2024
 
Beyond
3.9

 
Bank debt
 
2.3

 
0.5

 
0.7

 
0.2

 
0.1

 
0.1

6.7

 
Capital markets debt
 
1.5

 
1.2

 
1.4

 
1.3

 
1.3

 
0.0

0.6

 
Other debt
 
0.6

 
0.0

 
0.0

 
0.0

 
0.0

 
0.0

1.6

 
Lease liabilities
 
0.4

 
0.2

 
0.2

 
0.2

 
0.2

 
0.6

12.8

 
Total Cash maturities(1)
 
4.8

 
1.8

 
2.3

 
1.7

 
1.5

 
0.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
15.5

 
Cash and Marketable securities
 
 
 
 
 
 
 
 
 
 
 
 
7.6

 
Undrawn committed credit lines
 
 
 
 
 
 
 
 
 
 
 
 
23.1

 
Total available liquidity
 
 
 
 
 
 
 
 
 
 
 
 
______________________________________________________________________________________________________________________________________________________________________________________________________
Note: Amounts may not add due to rounding.
(1) Amounts exclude accruals and asset-backed financing ((€0.1) billion at December 31, 2019).