During 2013, the Group continued the intense program of activities initiated in 2011 to give the market greater insight into the various businesses of the Group and the interaction and synergies between those businesses.
The Group’s objective is to continue building on the relationship of trust with customers and investors through transparent and responsible management aimed at increasing the value of the enterprise on a sustainable basis. The Investor Relations team interacts with the financial community throughout the year, maintaining an active dialogue and communication flow to shareholders, investors and analysts to keep them up-to-date and enhance their understanding of the Group and its activities.
Those communication activities also include conference calls and public presentations held to present periodic financial results or other events that require direct communication to the market. Information presented or discussed on those occasions is immediately made publicly available on the corporate website. Other activities include participation in seminars and industry conferences, as well as non-deal roadshows in major financial centers that provide the opportunity for direct contact with management.
On September 27 and 28, respectively, the deeds of merger for the mergers of Fiat Industrial S.p.A. and CNH Global N.V. with and into CNH Industrial N.V. were executed. The effective date of the merger transactions was September 29, 2013. On September 30, CNH Industrial common shares began trading on the NYSE and the MTA.
In order to present the new entity resulting from the merger to the US financial community, the Company held a US non-deal road show between September 26 and September 30, in New York, Boston, San Francisco and Los Angeles.
Following the merger, the Investor Relations team maintained a constant dialogue with the financial community through conference calls and meetings to present and explain the transaction and its benefits.
Several non-deal roadshows, one-on-one meetings and conferences on the capital goods sector were organized by equity and fixed income analysts in New York, Boston, San Francisco, Los Angeles, London, Geneva, Zurich, Milan and in Turin, at which management and the IR team also had the opportunity to give additional briefings to investors on the operating performance of CNH Industrial’s various businesses and their strategic plans going forward.
Financial information, institutional presentations, periodic publications, official press releases and real-time share price updates are available in the Investors section of the corporate website (www.cnhindustrial.com) or may be requested at the following e-mail address: firstname.lastname@example.org.
US registered shareholders may contact the Transfer Agent and Registrar Computershare Trust Company NA by: Telephone: +1 855 807 3164 (US) or +1 732 491 0514 (outside US)
Shareholders holding their shares in an intermediary account with a participant in the Monte Titoli clearing system may contact the Italian Agent Computershare Italia S.p.A. by:
Telephone: +39 011 0923200 E-mail: email@example.com
In 2013, the global economy grew at a moderate pace, but with the rate of growth expected to be marginally down on the prior year (3.0% vs. 3.1%) and below potential. There were signs of an acceleration in the second half of the year, driven, in particular, by the advanced economies. The U.S. economy continued to grow (+1.9%), although below the prior year’s level. It is expected that the Eurozone will post another year of negative growth (-0.4%) with performance varying between member states. Germany (+0.5%) and France (+0.2%) closed the year in positive territory, but economic conditions in Southern Europe remained weak with internal demand negatively influenced by restrictive fiscal policies and continued limited access to credit for both businesses and consumers. During the year, the ECB reduced the reference rate to 0.25% in an effort to support a recovery and ease conditions in financial markets. Economic activity in the emerging markets was varied. While growth in China stabilized at 7.7%, other economies, such as Brazil (+2.3%) and India (+4.4%), suffered slowdowns in infrastructure development and increased volatility in capital flows.The FTSE 250 index registered a 28.8% increase, the S&P 500 was up 29.6% and the Dow Jones Industrial US was up 26.5%
At December 31, 2013 the fully subscribed and paid in shares of the Company amount to 1,824,547,806 divided into 1,350,073,530 common shares and 474,474,276 special voting shares of €0.01 each. On the same date, on the basis of the information published on the Netherlands Authority for the Financial Markets’s website (Autoriteit Financiële Markten or AFM), the following institutions held more than 3% of the Company’s shares:
Common and special voting shares: 1,824,547,806
|Harris Associates LP||6.42%|
|BlackRock Inc. (**)||2.80%(*)|
|Special voting shares held by CNH Industrial N.V.||0.30%|
EARNINGS PER SHARE (*)
|(figures in €)||2013||2012||2011||2010||2009|
|Basic earnings/(loss) per common share||0.63||0.65||0.48||0.26||(0.36)|
|Diluted earnings/(loss) per common share||0.63||0.65||0.48||0.26||(0.36)|
(*) As a consequence of the effective date of the merger, full-year 2013 basic EPS has been calculated on approximately 1,255 million of weighted average number of common shares outstanding. For 2012 and prior years, earnings per share calculation is based on the average number of Fiat Industrial ordinary shares outstanding after taking into account the effect of the conversion of preference and savings shares occurred on May 21, 2012.
FIAT INDUSTRIAL REFERENCE PRICE PER SHARE (*)
|(figures in €)||09.27.13||12.28.12||12.30.11||01.03.11|
CNH INDUSTRIAL REFERENCE PRICE PER SHARE (*)
|MI:CNHI common shares (€)||8,285||9,480|
|NYSE:CNHI common shares (US$)||11,350||12,500|