Martedì, 25 Settembre 2018

Fiat Industrial posts net profit in first quarter 2013


Turin, April 30 - Fiat Industrial, the company
that controls the truck and tractor business spun out of Italy's
largest carmaker Fiat in 2011, posted profit of 195 million
euros in the first three months of the year, down from 202
million euro in the first quarter of 2012.
Revenue in the period totalled 5.8 billion euros, in line
with the first three months of 2012, as sales of agricultural
machines and motors offset the difficult market conditions
relating to construction and industrial vehicles.
The company slashed it sales forecasts for this year down
to between 3% and 4% from a previous 5%, adding that it expected
its net debt to rise to between 1.4 billion euros and 1.6
billion euros, up from a previous 1.1-1.4 billion euro forecast.
The figures were released after a board meeting on Tuesday
held in Detroit approved them.
Its Veicoli Industriali (Iveco) unit saw sales drop 3.9% to
1.8 billion euros, as revenue was eroded by weak market
conditions in Europe.
Its Powertrain (Fpt Industrial) business unit meanwhile
benefitted from a 9.1% increase in sales to 740 million euros.

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