Vladimír Urbánek (Kurzy.cz)
World markets  |  July 25, 2012 14:45:33

Ford profit in 2Q12 decreased by 57%, but just surpassed expectations, the company decreased full-year profit estimates


The second largest U.S. carmaker Ford for Q2 of this year saw net profits decline by 57% to 1.04 mld.USD = 26 cents per share. Excluding some nonrecurring items the gross profit level of 30 cents, which narrowly beat estimates set the market on average 29 cents.
Total sales declined 6.2% to 33.3 mld.USD, which exceeded estimates set the average to 32.4 mld.USD.
The main reason for the deterioration of the unsatisfactory development of the European car market, which is relatively hard hit by the ongoing European debt crisis.

The average price of new Fords went up by 3.4% to 32 234 USD

Loss of international division of Ford in 2Q12 amounted to 465 mill.USD, of which the largest share went to the debit of Europe. At the end of June alone automaker warned that losses could reach up to level 570 mill.USD.Operating loss from European operations increased from last year's 176 to 404 mill.USD mill.USD. In 1Q loss levels reached "only" 149 mill.USD. Keeping car now estimates that total losses exceed telošní European mld.USD a car as a consequence can not maintain full-year operating profit estimate on the originally planned level of 2011 around 8.8 mld.USD.

Production capacity utilization carmaker in Europe amounts to just 63%. For comparison, Peugeot announced a capacity utilization of 76%.
Ford sales in Europe declined in Q2 by 16%, significantly higher than the overall decline in automobile sales in the region, reaching levels of only about 1.7%. In the first half of the sales declined by 10% compared to an overall decline in the segment by 6.3%.

The U.S. division has received over the 2Q of this year gross operating profit of 2.01 versus 1.9 mld.USD mld.USD year ago. Operating margin at home U.S. market reached a level of 10.2%. Total sales in the 1st half in the U.S. rose by 6.6% to 1.14 million, which lags behind the overall growth 15procentním whole market. Market share of car dropped to 15.7% from the previous 16.9%.

Asijskopacifická and African division recorded in 2Q gross operating loss of 66 mill.USD profit compared to last at 1 mill.USD. Sales in China in June rose 18% year on year.
Latin American division reported operating profit before tax at 5 mill.USD mill.USD from last year's 267.

Total debt automotive division rose QoQ in 2Q from 13.7 to 14.2 mld.USD.
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Zisk Fordu ve 2Q12 poklesl o 57%, ale těsně předčil očekávání, firma snížila odhady celoročního zisku

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