The numbers, part of fresh-start accounting of the company formed by the acquisition of all the assets and certain liabilities of Motors Liquidation Company, the former General Motors Corporation, show a global revenue of $57.5 billion and net cash coming from operating activities of $1 billion.
“We are building the foundation that will allow us to return to public ownership,” said Chris Liddell, GM vice chairman and CFO. “Completing fresh-start accounting is an important step in that process.”
“As the results for 2009 show there is still significant work to be done. However, I continue to believe we have a chance of achieving profitability in 2010.”
“We are also dedicated to delivering on our commitments to our stakeholders. For example we remain committed to repaying the outstanding balance of the U.S. Treasury and Export Development Canada loans by June 2010 at the latest.”
The loss, which GM hopes to damp once it goes public (no word on when that will happen), includes the the pre-tax impact of a $2.6 billion settlement loss related to the UAW retiree medical plan and a $1.3 billion foreign currency re-measurement loss.
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