Ford Otomotiv Sanayi AS Reports Earnings Results for the First Half Ended June 2014; Provides Earnings Guidance for the Year 2014
August 06, 2014 at 11:19 am
Ford Otomotiv Sanayi AS reported earnings results for the first half ended June 2014. For the period, the company reported net profit fell 19% to TRY 353 million. Operating profit was down 38% to TRY 210 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) fell 20% to TRY 343 million in the review period. Revenue declined 5% to TRY 5.2 billion through June as domestic sales decreased 21% to TRY 1.4 billion and export sales rose 3.0% to TRY 3.8 billion. Capital expenditures dropped 25% to TRY 470 million.
The company anticipates full-year 2014 retail sales volume of 84,000, exports volume of 198,000, wholesale volume of 279,000, production volume of 242,000, and capital expenditures of USD 340 million.