Fiat swings to fourth-quarter net loss, forecasts 2010 profit
(chinatrucks.com, Jan.26, 2010)Fiat, which acquired a 20% stake in Chrysler Group LLC last summer, reported on Monday a loss of 281 million euros ($398 million), compared with profit of 163 million euros in the year-earlier period.
During the quarter, the company took fresh charges on restructuring as well as write-downs on the value of platforms and architecture from Chrysler.
Total revenue rose 3.6% to 13.6 billion euros. Revenue at the automobile segment, the group's biggest profit generator, increased 23% during the fourth quarter. In contrast, revenue at Fiat's agricultural and construction equipment division, CNH, /quotes/comstock/13*!cnh/quotes/nls/cnh (CNH 26.25, +0.77, +3.03%) fell 22%.
Sales at the Iveco truck and commercial vehicle unit dropped 8%. Components and productions systems revenue rose 4%.
Fourth-quarter trading profit -- Fiat's operating profit excluding one-time items -- declined to 488 million euros from 663 million euros in the year-earlier period. Most analysts expected trading profit of 460 million euros.
Full-year trading profit at the maker of Fiat, Maserati, Alfa Romeo, Lancia and Ferrari cars was 1.06 billion euros, with a strong contribution from the automobiles business. That figure exceeded Fiat's outlook of 1 billion euros, but it was down 68% from 3.36 billion euros in 2008.
Net industrial debt was reduced to 4.4 billion euros in 2009 from 5.9 billion euros the previous year, also coming in ahead of guidance.
Views:0
- SAIC Fiat Hongyan Delivered Impressive Performances in 2019 2020-01-06
- FIAT to Co-develop Light Duty Truck With PSA 2013-07-10
- Fiat releases 2012 Strada pickups 2012-01-31
- Iveco opens new “eco-sustainable” dealership in Brazil, as network doubles in four years 2011-12-09
- Fiat CEO could talk auto spin-off April 21 2010-03-04
- Fiat Buys Zastava in Serbia 2010-01-06
- Great Wall Motor to Sue Fiat Over Commercial Secrets Spies 2009-10-16
- SAIC, Fiat to Cooperate in Commercial Vehicles 2009-07-29
- SAIC-Fiat Powertrain Hongyan starts making diesel engine 2009-07-27
- Fiat Posts 2Q Net Loss, Confirms 2009 Targets 2009-07-23
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
