Stellantis (STLA) 6-K 6-K Fca N.V. Semi Annual Report

Income Statements by activity

Unaudited

	For the three months ended June 30, 2015					For the three months ended June 30, 2014
(€ million)	Group		Industrial activities		Financial services	Group		Industrial activities		Financial services
Net revenues	29,228		29,166		91	23,328		23,228		128
Cost of sales	25,079		25,051		57	20,099		20,026		101
Selling, general and administrative costs	1,997		1,985		12	1,772		1,761		11
Research and development costs	732		732		—	601		601		—
Result from investments	45		10		35	36		13		23
Restructuring costs/(reversal)	8		8		—	(2	)	(2	)	—
Other (expenses)/income	(109	)	(109	)	—	67		67		—
EBIT	1,348		1,291		57	961		922		39
Net financial expenses	627		627		—	506		506		—
Profit before taxes	721		664		57	455		416		39
Tax expense	388		381		7	258		254		4
Profit from continuing operations	333		283		50	197		162		35
Result from intersegment investments	—		50		—	—		35		—
Net profit	333		333		50	197		197		35
Adjusted EBIT	1,525		1,468		57	968		929		39

	For the six months ended June 30, 2015					For the six months ended June 30, 2014
(€ million)	Group		Industrial activities		Financial services	Group		Industrial activities		Financial services
Net revenues	55,624		55,475		205	45,453		45,284		222
Cost of sales	48,058		47,981		133	39,430		39,308		175
Selling, general and administrative costs	3,983		3,959		24	3,452		3,431		21
Research and development costs	1,459		1,459		—	1,227		1,227		—
Result from investments	95		29		66	69		24		45
Gains on the disposal of investments	—		—		—	8		1		7
Restructuring costs	12		12		—	8		8		—
Other (expenses)	(67	)	(67	)	—	(182	)	(182	)	—
EBIT	2,140		2,026		114	1,231		1,153		78
Net financial expenses	1,233		1,233		—	999		999		—
Profit before taxes	907		793		114	232		154		78
Tax expense	482		469		13	208		196		12
Profit/(loss) from continuing operations	425		324		101	24		(42	)	66
Result from intersegment investments	—		101		—	—		66		—
Net profit	425		425		101	24		24		66
Adjusted EBIT	2,325		2,211		114	1,623		1,552		71

Statements of Financial Position by activity

Unaudited

	At June 30, 2015			At December 31, 2014
(€ million)	Group	Industrial activities	Financial services	Group	Industrial activities	Financial services
Intangible assets:	24,959	24,952	7	22,847	22,840	7
Goodwill and intangible assets with indefinite useful lives	15,183	15,181	2	14,012	14,010	2
Other intangible assets	9,776	9,771	5	8,835	8,830	5
Property, plant and equipment	28,008	28,006	2	26,408	26,406	2
Investments and other financial assets	2,094	2,559	969	2,020	2,452	931
Deferred tax assets	3,504	3,440	64	3,547	3,482	65
Other assets	128	128	—	114	114	—
Total Non-current assets	58,693	59,085	1,042	54,936	55,294	1,005
Inventories	12,283	12,276	7	10,449	10,442	7
Assets sold with a buy-back commitment	2,702	2,702	—	2,018	2,018	—
Trade receivables	3,207	3,218	23	2,564	2,566	17
Receivables from financing activities	3,516	1,821	3,414	3,843	1,746	3,834
Current tax receivables	292	289	9	328	326	8
Other current assets	2,815	2,766	49	2,761	2,732	32
Current financial assets:	1,164	1,130	34	761	732	31
Current investments	42	42	—	36	36	—
Current securities	232	202	30	210	180	30
Other financial assets	890	886	4	515	516	1
Cash and cash equivalents	21,117	20,922	195	22,840	22,627	213
Total Current assets	47,096	45,124	3,731	45,564	43,189	4,142
Assets held for sale	6	6	—	10	6	4
TOTAL ASSETS	105,795	104,215	4,773	100,510	98,489	5,151
Equity and Liabilities
Equity	15,037	15,037	1,434	13,738	13,738	1,367
Provisions:	22,084	22,062	22	20,372	20,350	22
Employee benefits	10,323	10,310	13	9,592	9,579	13
Other provisions	11,761	11,752	9	10,780	10,771	9
Deferred tax liabilities	278	269	9	233	225	8
Debt	32,298	30,881	3,136	33,724	31,885	3,576
Other financial liabilities	845	845	—	748	745	5
Other current liabilities	12,640	12,515	126	11,495	11,376	122
Current tax payables	186	171	20	346	335	17
Trade payables	22,427	22,435	26	19,854	19,835	34
TOTAL EQUITY AND LIABILITIES	105,795	104,215	4,773	100,510	98,489	5,151

Statements of Cash Flows by activity

Unaudited

	For the six months ended June 30, 2015						For the six months ended June 30, 2014
(€ million)	Group		Industrial activities		Financial services		Group		Industrial activities		Financial services
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	22,840		22,627		213		19,455		19,255		200
CASH FLOWS FROM OPERATING ACTIVITIES:
Net profit for the period	425		425		101		24		24		66
Amortization and depreciation	2,822		2,821		1		2,359		2,358		1
Net losses/(gains) on disposal of non-current assets and other non-cash items	101		50		(50	)	224		186		(28	)
Dividends received	114		125		—		59		62		—
Change in provisions	589		589		—		721		721		—
Change in deferred taxes	142		141		1		(58	)	(56	)	(2	)
Change in items due to buy-back commitments	137		136		1		269		269		—
Change in working capital	(261	)	(224	)	(37	)	180		147		33
TOTAL	4,069		4,063		17		3,778		3,711		70
CASH FLOWS USED IN INVESTING ACTIVITIES:
Investments in property, plant and equipment and intangible assets	(4,293	)	(4,292	)	(1	)	(3,233	)	(3,232	)	(1	)
Acquisitions and capital increases in joint ventures, associates and unconsolidated subsidiaries	(77	)	(77	)	—		(3	)	(3	)	—
Proceeds from the sale of non-current assets	9		9		—		28		21		7
Net change in receivables from financing activities	320		(40	)	360		(280	)	(56	)	(224	)
Change in current securities	3		5		(2	)	49		51		(2	)
Other changes	(13	)	(88	)	75		11		(160	)	171
TOTAL	(4,051	)	(4,483	)	432		(3,428	)	(3,379	)	(49	)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Net change in debt and other financial assets/liabilities	(2,504	)	(2,051	)	(453	)	1,358		1,356		2
Increase in share capital	10		10		—		3		3		—
Dividends paid	(17	)	(17	)	(11	)	—		—		(3	)
Distribution of certain tax obligations	—		—		—		(45	)	(45	)	—
Acquisition of non-controlling interest	—		—		—		(2,691	)	(2,691	)	—
TOTAL	(2,511	)	(2,058	)	(464	)	(1,375	)	(1,377	)	(1	)
Translation exchange differences	770		773		(3	)	85		76		9
TOTAL CHANGE IN CASH AND CASH EQUIVALENTS	(1,723	)	(1,705	)	(18	)	(940	)	(969	)	29
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	21,117		20,922		195		18,515		18,286		229