Vladimír Urbánek (Kurzy.cz)
World markets  |  January 29, 2013 15:54:07

Ford's 4Q12 results beat estimates as market situation in Europe deteriorates further

The second-largest U.S. carmaker Ford in 4Q of last year, the multifold increase in net profit to 1.6 mld.USD = 40 cents per share from 13.6 mld.USD = $ 3.4 per share in 4Q11. Gross profit excluding some one-off items reached 31 cents per share, beating the average market expectations set at 25 cents.
Total revenues in Q4 grew by 5.5% to 36.5 mld.USD, which exceeded the average market estimates set at 33 mld.USD.

Management stated that the loss of the European market in Q4 were larger than expected and issues in 2013 in this field likely intensify. The slump in Europe make up a strongly positive development in the domestic U.S. market, where annual gross profit rose to a record 8.34 mld.USD, c Mark overcame been a record year 2011, when it achieved a profit of € 6.2 mld.USD.Operating margin in the last year of 10.4% and surpassing a record in this respect in 2010 with a margin of 8.4%.
Ford's sales in the U.S. market last year grew overall by 4.7%. The most successful model was a light pick-up F series, whose sales rose year on year by 10% to 645,316 vehicles. This model generates a full 90% of global corporate profits.
On a global scale Ford for the full year 2012, net profit of 5.67 mld.USD. During the last 5 years, the automaker has earned a total of 35.2 versus a loss of 30.1 mld.USD mld.USD in 2006-8.

The division recorded a Q4 loss of $ 732 mill.USD mld.USD 1.75 respectively for the full year 2012. For 2013, management calculates the loss at level 2 mld.USD.

According to ACEA estimates total demand for cars in Europe fell last year by 7.8% to 12.5 million vehicles. Ford's sales fell by 13% to 939,409 vehicles.

Management estimates the automaker this year the total profit at the same level as last year, when earnings growth in the U.S. market with native operating margin at 10%.

The automaker announced that on average, all 45,300 employees grouped in the March UAW pays share of profits in the amount of 8 300 USD. In the second half of 2011, the automaker paid per head 2 450 USD.
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Výsledky Fordu za 4Q12 překonaly odhady trhu, situace v Evropě se dále zhorší

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