EX-99.2 3 exhibit992fcanv20190630add.htm EXHIBIT 99.2 SUPPLEMENTAL INFORMATION FINANCIAL DATA BY ACTIVITY JUNE 30, 2019 Exhibit 99.2 FCA NV 2019.06.30 Additional Information Financial Data by Activity
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Exhibit 99.2
Income Statement by activity
Unaudited
 
 
For the three months ended
June 30, 2019
 
 
For the three months ended
June 30, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Net revenues
 
26,741

 
26,682

 
92

 
27,611

 
27,555

 
80

Cost of revenues
 
23,089

 
23,067

 
55

 
23,841

 
23,817

 
48

Selling, general and other costs
 
1,573

 
1,567

 
6

 
1,741

 
1,732

 
9

Research and development costs
 
782

 
782

 
—

 
761

 
761

 
—

Result from investments
 
58

 
(1
)
 
59

 
69

 
20

 
49

Gains on disposal of investments
 
7

 
7

 
—

 
—

 
—

 
—

Restructuring costs
 
(8
)
 
(8
)
 
—

 
1

 
1

 
—

Net financial expenses
 
260

 
260

 
—

 
265

 
265

 
—

Profit before taxes
 
1,110

 
1,020

 
90

 
1,071

 
999

 
72

Tax expense
 
317

 
307

 
10

 
377

 
370

 
(21
)
Result from intersegment investments
 
—

 
80

 
—

 
—

 
65

 
—

Net profit from continuing operations
 
793

 
793

 
80

 
694

 
694

 
93

Profit from discontinued operations, net of tax
 
3,859

 
3,859

 
—

 
60

 
60

 
—

Net profit
 
4,652

 
4,652

 
80

 
754

 
754

 
93

 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
 
1,527

 
1,437

 
90

 
1,534

 
1,462

 
72

 
 
For the six months ended
June 30, 2019
 
 
For the six months ended
June 30, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Net revenues
 
51,222

 
51,100

 
183

 
53,344

 
53,234

 
153

Cost of revenues
 
44,270

 
44,224

 
107

 
45,844

 
45,809

 
78

Selling, general and other costs
 
3,090

 
3,077

 
13

 
3,317

 
3,301

 
16

Research and development costs
 
1,455

 
1,455

 
—

 
1,544

 
1,544

 
—

Result from investments
 
116

 
—

 
116

 
151

 
52

 
99

Gains on disposal of investments
 
7

 
7

 
—

 
—

 
—

 
—

Restructuring costs
 
196

 
196

 
—

 
2

 
2

 
—

Net financial expenses
 
504

 
504

 
—

 
552

 
552

 
—

Profit before taxes
 
1,830

 
1,651

 
179

 
2,236

 
2,078

 
158

Tax expense
 
529

 
510

 
19

 
591

 
572

 
(9
)
Result from intersegment investments
 
—

 
160

 
—

 
—

 
139

 
—

Net profit from continuing operations
 
1,301

 
1,301

 
160

 
1,645

 
1,645

 
167

Profit from discontinued operations, net of tax
 
3,970

 
3,970

 
—

 
130

 
130

 
—

Net profit
 
5,271

 
5,271

 
160

 
1,775

 
1,775

 
167

 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
 
2,594

 
2,415

 
179

 
3,035

 
2,877

 
158




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Statement of Financial Position by activity
Unaudited
 
 
At June 30, 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
 
14,090

 
14,090

 
—

 
13,970

 
13,970

 
—

Other intangible assets
 
12,257

 
12,253

 
4

 
11,749

 
11,745

 
4

Property, plant and equipment
 
27,750

 
27,747

 
3

 
26,307

 
26,305

 
2

Investments and other financial assets
 
2,993

 
3,409

 
1,524

 
2,979

 
3,364

 
1,416

Deferred tax assets
 
1,813

 
1,781

 
32

 
1,814

 
1,778

 
36

Inventories
 
11,421

 
11,421

 
—

 
10,694

 
10,694

 
—

Assets sold with a buy-back commitment
 
2,385

 
2,385

 
—

 
1,707

 
1,707

 
—

Trade receivables
 
2,399

 
2,400

 
20

 
2,048

 
2,050

 
20

Receivables from financing activities
 
3,297

 
1,336

 
3,189

 
3,614

 
1,213

 
3,697

Tax receivables
 
408

 
414

 
5

 
490

 
483

 
7

Other assets
 
4,881

 
4,865

 
13

 
4,250

 
4,239

 
11

Cash and cash equivalents
 
15,406

 
15,288

 
118

 
12,450

 
12,275

 
175

Assets held for sale
 
52

 
52

 
—

 
4,801

 
4,861

 
—

TOTAL ASSETS
 
99,152

 
97,441

 
4,908

 
96,873

 
94,684

 
5,368

Equity and Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
27,257

 
27,257

 
1,940

 
24,903

 
24,903

 
1,782

Employee benefits liabilities
 
8,478

 
8,476

 
2

 
8,470

 
8,468

 
2

Provisions
 
14,952

 
14,943

 
9

 
16,044

 
16,054

 
9

Deferred tax liabilities
 
1,050

 
1,050

 
—

 
937

 
937

 
—

Debt
 
14,973

 
13,459

 
2,742

 
14,528

 
12,379

 
3,364

Trade payables
 
21,467

 
21,458

 
24

 
19,229

 
19,221

 
18

Other financial liabilities
 
340

 
340

 
—

 
207

 
207

 
—

Tax payables
 
117

 
97

 
30

 
115

 
97

 
28

Other liabilities
 
10,489

 
10,332

 
161

 
9,509

 
9,346

 
165

Liabilities held for sale
 
29

 
29

 
—

 
2,931

 
3,072

 
—

TOTAL EQUITY AND LIABILITIES
 
99,152

 
97,441

 
4,908

 
96,873

 
94,684

 
5,368





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Statement of Cash Flows by activity
Unaudited


 
For the six months ended
June 30, 2019
 
 
For the six months ended
June 30, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
CASH FLOW FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Net profit from continuing operations
 
1,301

 
1,301

 
160

 
1,645

 
1,645

 
139

Amortization and depreciation
 
2,741

 
2,740

 
1

 
2,815

 
2,814

 
1

Net losses/(gains) on disposal of non-current assets and other non-cash items
 
104

 
60

 
(116
)
 
(22
)
 
(53
)
 
(108
)
Dividends received
 
66

 
69

 
—

 
72

 
93

 
—

Change in provisions
 
(1,251
)
 
(1,251
)
 
—

 
242

 
242

 
—

Change in deferred taxes
 
185

 
181

 
4

 
59

 
54

 
5

Change in items due to buy back commitments
 
191

 
191

 
—

 
303

 
303

 
—

Change in working capital
 
722

 
722

 
—

 
(292
)
 
(311
)
 
19

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

 
362

 
362

 
—

TOTAL
 
3,751

 
3,705

 
49

 
5,184

 
5,149

 
56

CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Investments in property, plant and equipment and intangible assets
 
(3,330
)
 
(3,329
)
 
(1
)
 
(2,429
)
 
(2,428
)
 
(1
)
Investments in joint ventures, associates and unconsolidated subsidiaries
 
(1
)
 
(1
)
 
—

 
(1
)
 
(1
)
 
—

Proceeds from the sale of non-current assets
 
24

 
24

 
—

 
35

 
35

 
—

Net cash proceeds from disposal of discontinued operations

 
5,348

 
5,348

 
—

 
—

 
—

 
—

Net change in receivables from financing activities
 
276

 
(104
)
 
380

 
(605
)
 
(15
)
 
(590
)
Change in securities
 
(114
)
 
(114
)
 
—

 
(102
)
 
(102
)
 
—

Other changes
 
29

 
29

 
—

 
(7
)
 
(7
)
 
—

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

 
(245
)
 
(245
)
 
—

TOTAL
 
2,077

 
1,698

 
379

 
(3,354
)
 
(2,763
)
 
(591
)
CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
Net change in debt and other financial assets/liabilities
 
(955
)
 
(471
)
 
(484
)
 
(1,248
)
 
(1,793
)
 
545

Capital increase
 
—

 
—

 
—

 
11

 
11

 
—

Distributions paid
 
(3,056
)
 
(3,056
)
 
(3
)
 
—

 
—

 
(21
)
Cash flows (used in)/from financing activities - discontinued operations
 
325

 
325

 
—

 
(75
)
 
(75
)
 
—

TOTAL
 
(3,686
)
 
(3,202
)
 
(487
)
 
(1,312
)
 
(1,857
)
 
524

Translation exchange differences
 
95

 
93

 
2

 
87

 
95

 
(8
)
TOTAL CHANGE IN CASH AND CASH EQUIVALENTS
 
2,237

 
2,294

 
(57
)
 
605

 
624

 
(19
)
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
2,237

 
2,294

 
(57
)
 
605

 
624

 
(19
)
LESS: CASH AND CASH EQUIVALENTS AT END OF THE PERIOD - INCLUDED WITHIN ASSETS HELD FOR SALE
 
—

 
—

 
—

 
—

 
—

 
—

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD
 
15,406

 
15,288

 
118

 
13,243

 
13,047

 
196



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Net Debt by activity
Unaudited
 
 
At June 30, 2019
 
 
At December 31, 2018
 
(€ million)
 
Group
 
Industrial activities
 
Financial services
 
Group
 
Industrial activities
 
Financial services
Third parties debt (Principal)
 
(14,968
)
 
(13,208
)
 
(1,760
)
 
(14,575
)
 
(12,169
)
 
(2,406
)
Capital market(1)
 
(8,178
)
 
(7,718
)
 
(460
)
 
(8,112
)
 
(7,699
)
 
(413
)
Bank debt
 
(4,469
)
 
(3,463
)
 
(1,006
)
 
(5,320
)
 
(3,772
)
 
(1,548
)
Other debt(2)
 
(744
)
 
(452
)
 
(292
)
 
(882
)
 
(437
)
 
(445
)
Lease liabilities(3)
 
(1,577
)
 
(1,575
)
 
(2
)
 
(261
)
 
(261
)
 
—

Accrued interest and other adjustments(4)
 
(5
)
 
(5
)
 
—

 
47

 
47

 
—

Debt with third parties from continuing operations (excluding Magneti Marelli)
 
(14,973
)
 
(13,213
)
 
(1,760
)
 
(14,528
)
 
(12,122
)
 
(2,406
)
Debt classified as held for sale(3)
 
—

 
—

 
—

 
(177
)
 
(177
)
 
—

Debt with third parties including discontinued operations
 
(14,973
)
 
(13,213
)
 
(1,760
)
 
(14,705
)
 
(12,299
)
 
(2,406
)
Intercompany, net(5)
 
—

 
736

 
(736
)
 
—

 
560

 
(560
)
Current financial receivables from jointly-controlled financial services companies(6)
 
281

 
281

 
—

 
242

 
242

 
—

Debt, net of intercompany, and current financial receivables from jointly-controlled financial service companies, including discontinued operations
 
(14,692
)
 
(12,196
)
 
(2,496
)
 
(14,463
)
 
(11,497
)
 
(2,966
)
Derivative financial assets/(liabilities), net of collateral deposits, from continuing operations(7)
 
(146
)
 
(146
)
 
—

 
151

 
150

 
1

Current debt securities(8)
 
368

 
368

 
—

 
219

 
219

 
—

Cash and cash equivalents
 
15,406

 
15,288

 
118

 
12,450

 
12,275

 
175

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

 
—

 
—

 
725

 
725

 
—

Total Net cash/(debt) including discontinued operations
 
936

 
3,314

 
(2,378
)
 
(918
)
 
1,872

 
(2,790
)
Net industrial cash/(debt) from continuing operations (excluding Magneti Marelli)(10)
 
 
 
3,314

 
 
 
 
 
1,768

 
 
Net industrial cash/(debt) from discontinued operations(10)
 
 
 
—

 
 
 
 
 
104

 
 
Total Net industrial cash/(debt)
 
 
 
3,314

 
 
 
 
 
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.
(1) Includes notes issued under the Medium Term Programme, or MTN Programme, and other notes (€7,718 million at June 30, 2019 and €7,699 million at December 31, 2018) and other debt instruments (€460 million at June 30, 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 (€299 million at June 30, 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 €1,067 million. 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 (€982 million at June 30, 2019 and €958 million at December 31, 2018) and industrial activities entities' financial payables due to financial services entities (€246 million at June 30, 2019 and €398 million at December 31, 2018).
(6) Financial receivables due from FCA Bank.
(7) Fair value of derivative financial instruments (net negative €194 million at June 30, 2019 and net positive €90 million at December 31, 2018) and collateral deposits (€48 million at June 30, 2019 and €61 million at December 31, 2018).
(8) Excludes certain debt securities held pursuant to applicable regulations (€48 million at June 30, 2019 and €72 million at December 31, 2018).
(9) At December 31, 2018 this amount Includes current debt securities of €9 million and there were no collateral deposits classified as held for sale.
(10) Amounts above include balances between Magneti Marelli and other companies of the Group (net financial payables due from Magneti Marelli to other group companies of €444 million at December 31, 2018, and nil at June 30, 2019, following the sale of Magneti Marelli on May 2, 2019.)