The Fiat Group is the largest industrial enterprise in Italy and one of the founders of the European motor industry. Right from the outset, the company had a strong propensity for international expansion and innovation.
Fiat is an automotive-focused industrial Group and designs and manufactures automobiles, trucks, wheel loaders, excavators, telehandlers, tractors and combine harvesters.
Fiat carries out its industrial and financial services activities through companies located in 50 countries and commercial relationships with customers in over 190 countries.
Fiat Group closed 2008 with best trading profit ever reported notwithstanding substantially weakened trading conditions in the 4th quarter
• Revenues were €59.4 billion, increasing 1.5% over the prior year, with strong performance for the first nine months (+8.4% vs 2007) being offset by Q4 declines in most Sectors (-17.2% vs 2007).
• Trading profit of €3.4 billion was up 4% or €129 million, with gains in agricultural equipment, truck and luxury auto more than offsetting declines for Fiat Group Automobiles, components and construction equipment.
• Trading margin reached 5.7% (2007: 5.5%) with improvements in efficiency and pricing compensating for the impact of volume declines in Q4.
• Net profit was €1.7 billion (16.2% lower than the prior year; 15.0% higher on a like-for-like basis).
• Net Industrial Debt of €5.9 billion reflected a higher level of capital expenditure (36% higher than 2007) combined with working capital absorption associated with volume declines in Q4.