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03 Aug 2012

FIAT Group Posts €1 Billion Q2 Trading Profit

Q2 revenues top €21.5 billion (€41.7b YTD) with 1.1m vehicles produced (2.1m YTD). Q2 trading profit of €1 Billion with net profit of €358 million (€737 million YTD). Strong performance for Chrysler brands in North America in Asia Pacific regions. European losses reduced; Group on course to meet overall 2012 expectations.

FIAT Group Posts €1 Billion Q2 Trading Profit

FIAT Group has posted a trading profit of €1 billion for the second quarter of 2012 with revenues topping €21.5 billion, compared to a trading profit of €525 million and revenues of €13.1 billion in Q2 of 2011. Year-to-date, Fiat Group's revenues have topped €41.7 billion, compared to €22.4 billion in the same period of 2011, with a €776 billion improvement in the Group's trading profit to €1.8 billion so far in 2012. Fiat Group has posted a net profit of €358 million for Q2 2011, with net profits of €737 million for the first half of the year.

Strong sales in North America (532,000 units, a 20 percent improvement compared to Q2 2011) resulted in a trading profit of €717 million in the region, while Latin America and Asia reported trading profits of €238 million and €64 million respectively. Europe (including the Middle East and Africa) recorded a trading loss of €138 million as a result of the extremely difficult market conditions at present. Overall losses in Europe have been reduced from €406 million to €184 million compared to a year ago, however. Fiat Group's luxury and performance brands posted trading profits of €104 million, driven by growth in Asia and North America, while Fiat's Components businesses contributed €47 million.

Overall Fiat Group's 2012 full year outlook remains positive, with expected revenues in excess of €77 billion; trading profits between €3.8 and €4.5 billion and net profits between €1.2 and €1.5 billion.

 

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