Wednesday, April 20, 2011

Fiat: profit and sales growth in first quarter

The first quarter of 2011 ended with positive accounts of the Fiat Group. This is an important result, since it is the first since the product was spun off into two different branches of industrial company, Fiat Auto and Fiat industrial, with different mission and different objectives. Returning to the figures for the period January to March, we note that both were to improve profits is the total revenue, despite the negative sales development in Italy and Europe, however, balanced by the positive accounts of Ferrari, Maserati and components : sales increased by 7.1% reaching € 9.2 billion, while trading profit has flown more than 9% to 251 million.

But to fly is really the net, that from 13 million in the first quarter of 2010 rose to 37 in the same period this year. As we said, are the luxury brands have led to the result of the group since the Maranello announced quarterly revenues of 491 million and Maserati of 135, which represented a growth of 18.6 and 6.3 %.

In light of these numbers - which are added to those resulting from the Stock Exchange, where shares have gained 4.8% - CEO Sergio Marchionne announced that he thought possible to achieve the business objectives set for the entire 2011 that as far as revenue, quota should be at 37 billion and earnings would be about 300 million.

At December 31, 2011, total investment is expected to reach 4.5 billion while the share of industrial debt should be between 1.5 and 1.8 billion euros.

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