Ford earns 2,690 million in the first quarter and returns to profit
Only in Europe, the company entered 13% more than in the same year in 2020
The vehicle manufacturer Ford closes the first quarter of 2021 with a net profit of 3,262 million dollars (about 2,690 million euros at the current exchange rate), which contrasts with the 1,993 million dollars (1,644 million euros) lost in the same period. of the preceding year.
The firm’s new product portfolio and the operational and management improvements of the effects of the pandemic have been key in building stronger results. “Our team is relentlessly executing a plan to turn our auto business around and create and deliver a high-value experience,” said Jim Farley , Ford president and CEO.
The US company had a total turnover of 36,228 million dollars (29,892 million euros) between January and March of this year, 5.5% more than the 34,320 million dollars (28,317 million euros) that was pocketed in the same period 2020.
Of this figure, 33,554 million dollars (27,685 million euros) come from its automotive division, 7% more, while 2,663 million dollars (2,197 million euros) correspond to Ford Credit, 10.2% less . For its part, its Mobility section has billed 11 million dollars (9.08 million euros), the same figure as a year ago.
Ford’s adjusted operating profit in the first quarter was $ 4,816 million (€ 3,973 million), compared to an operating loss of $ 632 million (€ 521 million) in the first three months of 2020, when the coronavirus pandemic had already affected most world markets.
“There is no doubt that we are becoming a stronger and more resilient company, ” added Farley.
In Europe alone, Ford made $ 7.1 billion (€ 5,861 million), up 13%, while making an operating profit of $ 341 million (€ 281 million) in the first quarter, compared to $ 148 million. (122 million euros) that he lost a year ago.
FORECASTS
Looking to the end of 2021, Ford estimates that it will reduce its production by 10% compared to its initial forecasts due to the shortage of semiconductors , which may not be resolved until 2022. This means 1.1 million less assembled units .
As a consequence, the company anticipates an adjusted operating profit of between 5,500 and 6,500 million dollars (between 4,538 and 5,363 million euros), affected by 2,500 million (2,063 million euros) due to the lack of said components.
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