28th Jan 2010 16:02
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Contact: |
Media: |
Equity Investment |
Fixed Income |
Shareholder Inquiries |
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Bill Collins |
Community: |
Investment Community: |
1.800.555.5259 or |
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1.313.390.4866 |
Larry Heck |
Dave Dickenson |
1.313.845.8540 |
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1.313.594.0613 |
1.313.621.0881 |
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FORD POSTS FULL YEAR PROFIT FOR 2009; FOURTH QUARTER 2009 NET INCOME OF $868 MILLION; PLANS TO BE PROFITABLE IN 2010+
Full year net income of $2.7 billion, or 86 cents per share, a $17.5 billion improvement from a year ago. Pre-tax operating profits of $454 million, a $7.3 billion improvement from a year ago++
Fourth quarter net income of $868 million, or 25 cents per share, a $6.8 billion improvement from a year ago. Pre-tax operating profits of $1.8 billion, a $5.5 billion improvement from a year ago++
Ford North America fourth quarter pre-tax operating profits of $707 million, a $2.6 billion improvement from a year ago++
Reduced Automotive structural costs by $500 million compared with the fourth quarter 2008, bringing the total 2009 reduction to $5.1 billion, exceeding the target of about $4 billion
Strong products drove full year market share gains in North America, South America and Europe as well as continued improvements in transaction prices and margins
Ended the year with $25.5 billion of Automotive gross cash and $34.3 billion in Automotive debt
Achieved positive Automotive operating-related cash flow of $3.1 billion for the fourth quarter. Full year Automotive operating-related cash outflow was $300 million, a $19.2 billion improvement over 2008
Ford Credit fourth quarter pre-tax operating profits of $696 million, a $1.1 billion improvement from a year ago
For full year 2010, Ford plans to be profitable on a pre-tax basis excluding special items, for North America, total Automotive and total company, with positive Automotive operating-related cash flow, based on its assumptions
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Financial Results Summary
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Fourth Quarter
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Full Year
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2008
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2009
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O/(U) 2008
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2008
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2009
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O/(U) 2008
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Wholesales (000) +
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1,139
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1,440
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301
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5,407
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4,817
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(590)
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Revenue (Bils.) +
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$ 29.0
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$ 35.4
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$ 6.4
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$ 138.1
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$ 118.3
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$ (19.8)
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Operating Results +
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Automotive sector (Mils.)
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$(3,339)
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$1,070
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$4,409
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$(6,355)
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$(1,423)
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$4,932
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Financial Services sector (Mils.)
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(384)
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683
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1,067
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(495)
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1,877
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2,372
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Pre-Tax Results (Mils.)
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$ (3,723)
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$1,753
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$ 5,476
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$(6,850)
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$ 454
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$ 7,304
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After-Tax Results (Mils.) +++
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$ (3,333)
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$ 1,565
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$ 4,898
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$(7,271)
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$ 8
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$ 7,279
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Earnings Per Share +++
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$ (1.40)
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$ 0.43
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$ 1.83
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$ (3.20)
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$ 0.00
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$ 3.20
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Special Items Pre-Tax (Mils.)
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$ (1,429)
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$ (711)
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$ 718
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$(7,648)
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$ 2,554
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$10,202
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Net Income/(Loss) Attributable to Ford
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After-Tax Results (Mils.)
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$ (5,978)
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$ 868
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$ 6,846
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$(14,766)
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$ 2,699
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$17,465
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Earnings Per Share
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$ (2.51)
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$ 0.25
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$ 2.76
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$ (6.50)
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$ 0.86
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$ 7.36
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Automotive Gross Cash (Bils.) +
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$ 13.4
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$ 25.5
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$ 12.1
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$ 13.4
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$ 25.5
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$ 12.1
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http://www.rns-pdf.londonstockexchange.com/rns/2938G_1-2010-1-28.pdf
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