Fiat Chrysler Automobiles NV said Wednesday that adjusted earnings totaled 955 million euros, or about $1.08 billion, a slight rise over 2013.
DETROIT, MI - The parent company of FCA US, formerly Chrysler Group, reported net profit of 632 million euros, or about $717.4 million, for 2014, driven in part by strong sales of the Jeep brand.
Fiat Chrysler Automobiles NV said Wednesday that adjusted earnings totaled 955 million euros, or about $1.08 billion, a slight rise over 2013.
The company's full-year revenues grew 11 percent to 96 billion euros, or about $109 billion. Adjusted earnings before interest and taxes rose 4 percent to 3.7 billion euros, or about $4.2 billion.
In the fourth quarter, net revenue increased 13 percent to 27.1 billion euros, or about $30.7 billion. Fourth-quarter adjusted net earnings rose to 446 million euros ($506 million), from 252 million euros ($286 million) in 2013.
FCA US, the Auburn Hills-based subsidiary of FCA Group, will report its fourth quarter and full-year 2014 financial results separately Feb. 3.
Based in London and incorporated in the Netherlands, FCA Group began trading on the New York Stock Exchange in October.
Fiat shareholders approved the merger with Chrysler Aug. 1, effectively ending the company's 115-year history in Italy while paving the way for Fiat and Chrysler CEO Sergio Marchionne to list it on the NYSE under the "FCAU" ticker. Shares closed down 2.6 percent to $13.20 on Tuesday.
Fiat first bought a 16-percent stake in Chrysler during the auto bailouts in 2008 and 2009. Chrysler became a wholly owned subsidiary of Fiat in January after a $4.35 billion deal with the United Auto Workers union trust fund, which owned 41.5 percent of the Auburn Hills automaker.
Though the company was strong in several regions in 2014, including North America, Asia-Pacific and Europe, the Middle East and Africa, FCA Group also noted solid results for the Jeep brand in particular.
Earlier this month, FCA US announced it had sold a record 1,017,019 Jeeps in 2014, a rise of 39 percent over 2013.
David Muller is the automotive and business reporter for MLive Media Group in Detroit. Email him at dmuller@mlive.com or follow him on Twitter