Slight 2013 Increase for CNH Industrial despite Construction Softness

CNH Industrial posted net revenues of €25.8 billion (about U.S. $35 billion) in 2013, a 4.3-percent increase compared to 2012. Net profit increased 2 percent to €917 million, compared to €900 million in 2012.

CNH Industrial expects improved performance for 2014, with revenues ranging from flat to a 5-percent increase. Revenues from agricultural and construction equipment were in line with the previous year at €16 billion.

For the fourth quarter group revenues totaled €6.9 billion, a 4.2-percent year-over-year hike on a constant-currency basis. The increase was driven by positive performance for agricultural equipment, powertrain and trucks and commercial vehicles, partially offset by a decline in revenues for construction equipment. The decline was a result of announced actions to realign dealer inventory to retail demand, the company said.

Group trading profit totaled €436.6 million for the fourth quarter, compared to €435 million for the same period of 2012, with a trading margin of 6.3 percent.

CNH Industrial expects improvement in operating performance in the Trucks, Commercial Vehicles and Construction Equipment businesses in 2014, along with continued industrial efficiencies, offset by a drop in the Agricultural business.