Fiat Chrysler Automobiles (FCA) said on Tuesday its IFRS revenue came in at €20.6 billion, missing expectations and falling 16% year-on-year. Meanwhile, the company recorded a net loss from continuing operations of €1.7 billion. The figure compared to net profit of €508 million a year ago. In the first quarter of the year FCA's diluted loss per share was €1.08, as the number declined from earnings of €0.32 per share in the opening quarter of 2019.
CEO Mike Manley said: "The pandemic has had, and continues to have, a significant impact on our operations. With our experienced leadership team and dedicated employees, I have the utmost confidence in our ability to navigate through this crisis and emerge well positioned to grow and prosper on the other side." The company added its available liquidity was at €18.6 billion at the end of March and was additionally strengthened with €3.5 billion in April.
FCA stressed that despite the "unprecedented times" the company expects to go through with its PSA merger.
