CNH Industrial sees better 2014 after flat Q4

Reuters

MILAN, Jan 30 (Reuters) - Tractor and trucks maker CNH Industrial reported a flat fourth-quarter trading profit on Thursday, but said it expected to improve its performance in 2014.

The sister company of Italian car maker Fiat said trading profit - earnings before interest, tax and one-time items - for the three months to end-December stood at 436 million euros ($595 million), in line with the previous year.

Net revenues fell 1.1 percent to 6.9 billion euros.

The company, which competes with Caterpillar and Deere & co, said it expected 2014 revenues to be between flat and 5 percent higher on the previous year, while trading margin is seen at between 7.8-8.2 percent.

CNH Industrial also said it expects net industrial debt of between 1.5-1.7 billion euros in 2014.

Milan-listed CNH Industrial shares extended their losses on the statement and were down 2.13 percent at 8.04 euros by 1503 GMT. In New York shares were down 2.8 percent.

View Comments (0)