Cnh: quarter in the red, longer times for spin offs

(ANSA) - TURIN, MAY 06 - Cnh Industrial closes the first quarter in red due to the impact of the Coronavirus and announces longer times for the spin off of Iveco trucks and buses and FPT engines, a project that continues anyway. No estimate given to the market, due to uncertainty, on the current year.
    The quarterly accounts show a loss of 54 million dollars compared to a net profit of 264 million dollars in the same period of 2019. Consolidated revenues amounted to 5.5 billion dollars, down 15% "" Our available liquidity is amounting to 9.9 billion dollars at March 31, 2020, the second highest level in the history of our company at the end of the first quarter, providing a solid cash base and space within our credit lines to face such an uncertain and challenging context ", stresses Suzanne Heywood, president and CEO pro tempore who assures us:" we will emerge from this public health crisis as a stronger and more efficient company ". (ANSA).