SOURCE: CNH Industrial
2015 Fourth Quarter and Full Year Results
CNH Industrial closes the year with strong results. Fourth quarter 2015 revenues of $7.1 billion,operating profit of Industrial Activities of $563 million, up 50%, at a margin of 8.2%, net incomebefore restructuring and other exceptional items of $262 million and net industrial debt at $1.6billion. Highest agricultural equipment operating margin amongst major OEMs, at 11.7% for thefourth quarter.
CNH Industrial N.V. (NYSE:CNHI / MI:CNHI) today announced consolidated revenues of $7,144 million for the fourth quarter 2015, down 4.1% compared to Q4 2014 on a constant currency basis (down 14.6% on a reported basis). Net sales of Industrial Activities were $6,869 million in Q4 2015, down 3.6% compared to Q4 2014 on a constant currency basis (down 14.3% on a reportedbasis). The full year 2015 consolidated revenues were $25,912 million, down 9.2% compared to 2014 on aconstant currency basis (down 20.4% on a reported basis). Net sales of Industrial Activities were $24,677million in 2015, down 9.6% compared to 2014 on a constant currency basis (down 20.9% on a reported basis).Net sales of Commercial Vehicles increased 4.8% excluding the negative impact of currency translation, dueto increased demand and market share gains in the EMEA region. Net sales of Agricultural Equipment declined 19.6% excluding the negative impact of currency translation, driven by lower industry volumes in theNAFTA and LATAM row crop sectors offset by positive net price realization. Net sales also decreased in Construction Equipment, due primarily to negative industry volumes in LATAM, and in Powertrain, due to lower volume to captive customers.