Ford Australia posts $162m loss for 2015 ---Wheels---

[uniacidz]

Ouch
Original story linkage
http://www.wheelsmag.com.au/news/ind...loss-for-2015/



FORD Australia has posted a $162 million run of red ink in its last full year as an Australian car manufacturer.

The Broadmeadows-based carmaker today filed its annual report for the 2015 financial year, revealing the costs of winding up its operations were still taking a toll on the company's bottom line. It compares with a $191 million loss posted in the 2014 financial year.

It means the carmaker has accumulated almost $1.5 billion in losses over the last decade.

Ford Australia's filings show it earned $2.76 billion from its sales in 2015, which was only $15 milion more than it earned in the 2014 calendar year. Government grants added $59.5 million to Ford's books.
However, the bottom-line cost of its sales grew significantly, rising $152 million to $2.31 billion for the year.

The other big loss weighing against the result was $300 million spent on research -- Ford Australia will keep its global design and engineering division beyond October's shut-down of its engine and vehicle manufacturing operations.

The report shows that Ford Australia's provisions for warranty claims was also up for the year, rising from $56.0 million in 2014 to $61.2 million last year.

The report is the first one filed using Ford Australia's new Richmond-based headquarters as the official address of the car company.

[malazn mafia]

Very sad. Would like to see Team Red's books in contrast .

[vztrt]

So r&d costs are now losses? Ah ok.

[Fordman1]

Originally Posted by vztrt

So r&d costs are now losses? Ah ok.

They are listed under expenses.

Look again

[vztrt]

Originally Posted by Barraxr8

They are listed under expenses.

Look again

Yet the journo makes it out as a loss. .

[steve289]

Yes in America they have made a record profit:
Profit Shifting to make the AU operations appear as not viable?

"Ford, the No. 2 American carmaker, on Thursday reported a record $2.5 billion in net income for the first three months of the year, an increase of 113 percent and more profit than in any other quarter in its 112-year history.
In North America, Ford’s operating profit doubled to $3.1 billion. It produced fewer vehicles on the continent than General Motors, but made about $800 million more in profit than its crosstown rival."


http://www.nytimes.com/2016/04/29/bu...tomobiles&_r=0