Chrysler 2015 Annual Report Download - page 63

2015 | ANNUAL REPORT 63
Adjusted EBIT
2015 compared to 2014
The improvement in EMEA Adjusted EBIT in 2015 compared to an Adjusted EBIT loss in 2014 was primarily
attributable to (i) increased volumes and favorable mix impact of €400 million reflecting the continued success of the
Fiat 500 family and Jeep brand and (ii) a €101 million impact from positive net pricing, which was partially offset by (iii)
a €91 million increase in Selling, general and administration costs primarily relating to marketing spending to support
the all-new Fiat 500X and Jeep Renegade and (iv) a €187 million increase in industrial costs, reflecting higher costs for
U.S. imported vehicles due to a stronger U.S.$, partially offset by cost efficiencies.
Adjusted EBIT for the year ended December 31, 2015 excluded total charges of €47 million which primarily related to
asset impairments.
2014 compared to 2013
The improvement in EMEA Adjusted EBIT loss in 2014 compared to 2013 was primarily attributable to (i) a favorable
volume/mix impact of €174 million driven by the increase in shipments described above and improved vehicle mix
and (ii) a decrease in net industrial costs of €218 million mainly driven by industrial and purchasing efficiencies, which
was partially offset by (iii) unfavorable pricing of €85 million as a result of the competitive trading environment and
resulting price pressure and (iv) an increase in Selling, general and administrative costs of €67 million mainly related to
advertising expenses primarily to support the growth of Jeep brand and the Jeep Renegade launch.
Adjusted EBIT for the year ended December 31, 2014 excluded total net charges of €68 million which primarily related
to asset impairments and write-offs.
Maserati
(€ million, except percentages and
shipments which are in thousands of units)
For the Years Ended December 31, Increase/(decrease)
2015 2014 2013 2015 vs. 2014 CER 2014 vs. 2013 CER
Shipments 32 36 15 (4) (10.9)% — 21 140.0% —
Net revenues 2,411 2,767 1,659 (356) (12.9)% (22.4)% 1,108 66.8% 67.3%
Adjusted EBIT 105 275 171 (170) (61.8)% (65.5)% 104 60.8% 61.4%
Adjusted EBIT margin 4.4% 9.9% 10.3%
Net revenues
2015 compared to 2014
The decrease in Maserati Net revenues in 2015 compared to 2014 was primarily driven by a decrease in Quattroporte
volumes in 2015 that resulted from weaker segment demand in the U.S. and China.
2014 compared to 2013
The increase in Maserati Net revenues in 2014 compared to 2013 was primarily driven by an increase in vehicle
shipments in 2014.