Fiat Chrysler Automobiles NV

Fiat Chrysler Automobiles is a holding company. Through its subsidiaries, Co. is an international automotive group engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. Co. has operations in approx. 40 countries and sells its vehicles directly or through distributors and dealers in more than 140 countries. Co. designs, engineers, manufactures, distributes and sells vehicles for the mass market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands and the SRT performance vehicle designation.
  • TickerFCA-MIL
  • ISINNL0010877643
  • ExchangeBern Exchange
  • SectorAutomobiles & Parts
  • CountryNetherlands

Analysts

Expert Corporate Governance Service (ECGS)

Fiat Chrysler Automobiles– AGM 16 April 2020

In item 2.c, shareholders are called to an advisory vote on the 2019 Remuneration Report. The maximum amount of the executive variable remuneration (1'225% of the CEO's base salary, of which 300% for the annual bonus and 925% under the long-term incentive) substantially exceeds the ECGS' voting policy limits of 150% for the annual bonus and 300% for total variable remuneration. Furthermore, we strongly regret that 25% of the long-term incentive does not depend on any performance conditions (restricted shares), and that the CEO received almost €3.0 million for results that were mostly achieved ...

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

Matthieu DRIOL

Short term view - FIAT CHRYSLER AUTOMOBILES NV : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €12.060. The background trend would be questioned should prices rise above €15.820.

Matthieu DRIOL

Analyse court terme - FIAT CHRYSLER AUTOMOBILES NV : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 12,060 €. La tendance de fond serait remise en cause en cas de franchissement de 15,820 €.

Matthieu DRIOL

Short term view - FIAT CHRYSLER AUTOMOBILES NV : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €12.060. The background trend would be questioned should prices rise above €15.820.

Matthieu DRIOL

Analyse court terme - FIAT CHRYSLER AUTOMOBILES NV : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 12,060 €. La tendance de fond serait remise en cause en cas de franchissement de 15,820 €.

Matthieu DRIOL

Analyse moyen terme - FIAT CHRYSLER AUTOMOBILES NV : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 13,730 €. La tendance serait remise en cause par la rupture de 13,730 €.

Georges Dieng ...
  • Michael Foundoukidis

FCA : No news is good news

>Earnings as expected but still reassuring - FCA reported Q4 2019 figures in line with expectations, with a solid performance by the group in North America where its profitability remains robust. Beyond this, it was particularly reassuring as the group confirmed the 2020 outlook as announced at the end of October despite the additional headwinds besetting the sector (volumes, regulation, China, raw materials notably).Buy rating confirmed. Still an attract...

Georges Dieng ...
  • Michael Foundoukidis

FCA : Pas de nouvelles, bonnes nouvelles

>Une publication sans surprise mais tout de même rassurante - FCA a publié un T4 2019 en ligne avec les attentes, notamment marqué par la solide performance du constructeur en Amérique du Nord où sa rentabilité reste élevée. Au-delà, il a surtout rassuré en confirmant ses perspectives 2020 qui avaient été annoncées fin octobre malgré les vents contraires additionnels qui touchent le secteur (volumes, règlementation, Chine, matières premières notamment).Op...

Georges Dieng ...
  • Michael Foundoukidis

ODDO : Les mariés de l’an 2020

Régulièrement évoqué depuis des décennies, le mariage entre FCA et PSA est en voie de se réaliser. Ce rapprochement fait tout à fait sens sur le plan stratégique, même s’il ne résout pas toutes les faiblesses des deux groupes. Il leur permettra d’affronter dans de meilleures conditions un contexte concurrentiel et réglementaire de plus en plus sévère. Achat réitéré sur Peugeot (26 € vs 29 €) – Achat vs Neutre sur FCA (17 € vs 12 €). - >Une fusion transformante : quand l’un...

Georges Dieng ...
  • Michael Foundoukidis

ODDO : The happy couple in 2020

The merger of FCA and PSA, a regular feature of M&A scenarios for decades, is now happening. The tie-up clearly makes good strategic sense, but it does not fully address the two groups’ weaknesses. The combination will help them weather an increasingly harsh competitive and regulatory environment. Buy rating maintained on PSA (€ 26 vs € 29), rating upgraded to Buy vs Neutral on FCA (€ 17 vs € 12). - >A transformational merger: stronger together - The strategic appeal o...

Georges Dieng ...
  • Michael Foundoukidis

ODDO : The happy couple in 2020

The merger of FCA and PSA, a regular feature of M&A scenarios for decades, is now happening. The tie-up clearly makes good strategic sense, but it does not fully address the two groups’ weaknesses. The combination will help them weather an increasingly harsh competitive and regulatory environment. Buy rating maintained on PSA (€ 26 vs € 29), rating upgraded to Buy vs Neutral on FCA (€ 17 vs € 12). - >A transformational merger: stronger together - The strategic appeal o...

Fiat Chrysler Automobiles N.V. and Peugeot S.A.: Signing of merger agreement is credit positive for FCA and PSA

FCA's and PSA's combination agreement is credit positive for both companies, but remains subject to execution risks. Ratings are unchanged.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 21/11/2019 - Thyssenkrupp - FR

ThyssenKrupp (Achat) : Nouvelle perte nette sur l’exercice 2018/19, cession du pôle ascenseurs en vue Swedbank (Vente) : Accusé d'avoir violé les sanctions américaines Wirecard (Achat) : Le groupe dément à nouveau des irrégularités comptables Continental (Achat) : Vise €500m d'économies annuelles d'ici 2028 EDF (Vente) : Cède sa participation de 49,99% dans CENG LVMH (Achat) : Propose $1md supplémentaire pour racheter Tiffany Daimler (Conserver) : S&P place sa note A sous surveillance négative Ageas (Achat) : Fitch confirme la no...

Fiat Chrysler Automobiles N.V.: Update Following Change of Outlook to Positive from Stable

Update following change of FCA's outlook to positive from stable as a result of proposed merger with Peugeot S.A.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - EN

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - Fr

Fiat Chrysler Automobiles (Achat) : Confirme ses objectifs avant la fusion avec PSA ING (Achat) - 9M-19 : PNB de €13,9 mds (+2,1%) Lloyds Banking Group (Vente) - 9M-19 : RN de $2,0mds (-46,9%) Ryanair (Conserver) - S1/19-20 : Résultat opérationnel de €1,3md (-1%) Metro (Vente) : EP Global Commerce (EPGC) prévoit d’augmenter sa participation à ~30% Repsol (Achat) - 9M-19 : Résultat opérationnel de €2,9 mds (-6,5%) IAG (Achat) : Rachète la compagnie espagnole Air Europa pour €1 md Bombardier (Achat) : Cession de ses activités aérost...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Georges Dieng
  • Haris Ladouari
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/07/2020

The coronavirus epidemic added to an already uncertain economic/geopolitical outlook is prompting us to play late-cycle commodities/stocks. We are upgrading AngloAmerican to Buy (vs Neutral) for its exposure to platinoids, diamonds and thermal coal. We are downgrading BHP to Reduce (vs Neutral) for its exposure to iron ore and oil, which are more sensitive to macroeconomics. We maintain our Buy on Eramet, which will benefit from the upturn in manganese and nickel prices. - ...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Georges Dieng
  • Haris Ladouari
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/02/2020

L'épidémie de coronavirus ajoutée à des perspectives économiques/géopolitiques déjà incertaines nous incitent à jouer les commodités/valeurs "late cycle". Nous relevons AngloAmerican à Achat (vs Neutre) pour son exposition aux platinoïdes, diamants et charbon thermique. Nous dégradons BHP à Alléger (vs Neutre) très exposé au minerai de fer et au pétrole, plus sensibles à la macroéconomie. Nous demeurons à l’Achat sur Eramet qui profitera de la remontée des prix du manganèse et du nick...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Martial Descoutures
  • Olfa Taamallah
  • Oussema Denguir
  • Steven Gould
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/01/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Martial Descoutures
  • Olfa Taamallah
  • Oussema Denguir
  • Steven Gould
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/11/2019

...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/30/2019

We are adopting a more upbeat stance on the winter season thanks to capacity increases being markedly less brisk than in previous years, which offsets the impact of a deterioration in demand. IAG (Buy vs Neutral – € 7.3) becomes our Top Pick for the sector. In our view, it is the stock that stands to gain the most from the streamlining of capacity (in the transatlantic network) and boasts the most attractive valuation. - ...

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

FIAT CHRYSLER AUTOS. receives two new qualifications and slightly improves to Neutral

The independent financial analyst theScreener just changed two ratings for the qualification of FIAT CHRYSLER AUTOS. (IT), active in the Automobiles industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 2 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date February 28, 2020, the closing price was EUR 11.24 and its expected value was estimated at EUR 12.34.

ValuEngine Rating and Forecast Report for FCAU

ValuEngine Rating and Forecast Report for FCAU

Expert Corporate Governance Service (ECGS)

Fiat Chrysler Automobiles– AGM 16 April 2020

In item 2.c, shareholders are called to an advisory vote on the 2019 Remuneration Report. The maximum amount of the executive variable remuneration (1'225% of the CEO's base salary, of which 300% for the annual bonus and 925% under the long-term incentive) substantially exceeds the ECGS' voting policy limits of 150% for the annual bonus and 300% for total variable remuneration. Furthermore, we strongly regret that 25% of the long-term incentive does not depend on any performance conditions (restricted shares), and that the CEO received almost €3.0 million for results that were mostly achieved ...

Expert Corporate Governance Service (ECGS)

Fiat Chrysler Automobiles April 12th, 2019

We have serious concerns over FCA's corporate governance, as it does not respect the "one share - one vote" principle, the Board does not have a majority of independent members (58% according to the Company but 42% as per our guidelines), and the controlling shareholder and executive Chairman chairs the Committee responsible for selecting nominees to the Board. Furthermore, since 2017 FCA has been involved in lawsuits concerning alleged violations with respect to the emissions control technology employed by the Company in the US. For all of the above mentioned concerns, we recommend that share...

Fiat Chrysler Automobiles – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Fiat Chrysler Automobiles NV - Proxy report - 07/09/2018

The EGM (item 2) is called to ratify the appointment of Mr. Michael Manley as Group CEO, in place of Mr. Sergio Marchionne, who died on July 25. Mr. Manley joined DaimlerChrysler in 2000 as Head of Network Development in the UK. He was Head of Jeep brand since June 2009, after the acquisition of Chrysler by Fiat Group, and Head of Ram brand since October 2015. Mr. Manley was appointed as Group CEO on 21 July 2018, and COO of EMEA division on July 23. He does not currently hold any external position. As we have not identified any specific concerns on the appointment of Mr. Manley as CEO of FC...

Expert Corporate Governance Service (ECGS)

Proxy Report - 13/04/2018

We have serious concerns over FCA's corporate governance, as it does not respect the one share - one vote principle, the Board does not have a majority of independent members (42% as per our guidelines and 67% according to the Company, which considers executive members of business partners as independent Directors), the Chairman holds executive powers, is a representative of the controlling shareholder and he chairs the Committee responsible for selecting nominees to the Board. Furthermore, since 2017 FCA has been involved in a lawsuit concerning alleged violations with respect to the emission...

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