14 de enero de 2015 / 14:33 / hace 3 años

BRIEF-GM expects improved profits in 2015

Jan 14 (Reuters) - GM :

* Says expects improved profitability in 2015 after adjusted 2014 for the impact of recall costs

* Says expects higher EBIT-adjusted profit and EBIT-adjusted margins in 2015, expects improved results in all regions in 2015

* Says outlook based on expected modest global industry growth in 2015, primarily from growth in China, Europe and U.S.

* Says on track to meet 2016 financial targets; to achieve EBIT-adjusted margins in north america of 10 pct; to return to profit in Europe & maintain strong margins in China

* Says expects to achieve 9 percent to 10 percent margins by early next decade

* Says expects global luxury segment for the industry to grow about 36 percent by 2020

* Says expects industry growth of 55 pct in emerging markets from 2015-2030, 33 pct in China and 12 pct in mature markets

* Sees restructuring expenses in 2015 of about $700 million; sees adjusted auto free cash flow in 2015 to be relatively flat

* Says GM Financial continuing on path toward full global captive capability

* Says expects global industry volume in 2015 up about 3 percent to about 89 million vehicles

* Says price improvement on its vehicles in 2015 expected to moderate

* Says plans to increase capital expenditures to about $9 billion in 2015, up from an expected $7.5 billion in 2014

* Sees U.S. industry light vehicle sales in 2015 of 16.5 million to 17 million

* Says expects overall flat market share and retail share in north america to increase in 2015

* Says expects favorable price on new vehicles in north america, but overall flat to slightly unfavorable when including carry-over vehicles

* Says expects increased volumes and mix in north america more than offsetting increased cost in its adjusted operating results

* Says its 2015 fixed costs will be up, mostly due to marketing and engineering

* Says expects sequential improvement in north american margins in 2015 on track to 2016 target

* GM CFO says company does not expect to be profitable in europe in 2015

* Sees european industry sales increasing slightly but expects continued weakness in Russia in 2015

* GM CFO says GM Europe business will post better results in 2014 than expected internally, despite "slump" in Russia

* Sees modest increase in European market share in 2015, sees improvement in vehicle pricing in Europe in 2015

* Sees industry growth in vehicle sales in its international operations region of about 2 percent in 2015

* Sees pricing in its international operations region flat to slightly up in 2015

* Sees improved profitability in China in 2015; sees industry growth in 2015 vehicle sales in China of 6-8 percent

* Sees its market share in China in 2015 to increase modestly, sees its vehicle pricing in China down in 2015

* Says targets to sell 100,000 cadillac vehicles in China in 2015

* Sees overall industry sales in south america flat to down in 2015; sees its vehicle pricing in south america up in 2015

* Sees slight market share improvement in south america in 2015, primarily in Brazil

* GM CFO says at this time, the company expects annual common stock dividend payment to remain at about $2 billion in 2015

* GM CFO says recall charges of $2.7 billion through first three quarters plus $400 million to $600 million for ignition switch compensation plan unchanged

* GM CFO says the number of recalls in 2015 will rise but cost per recall will fall; did not say whether co would take any recall-related charges in Q4 2014

* Says targeting auto liquidity of about $30 billion to $35 billion and auto cash of about $20 billion to $25 billion

* GM CFO says company expects growth in U.S. GDP in 2015 of about 3 percent; expects China GDP growth rate to be slower in 2015 compared with past

* GM CFO says company using 60 percent of capacity in its Europe plants on 3 shift basis and expects that to rise closer to 90 percent in 2-3 years

Further company coverage:

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