Fiat Group Reports Its Largest Ever Trading Profit

LONDON - January 28, 2008: The Fiat Group has recorded its largest ever trading profit – 3.2 billion euros ($4.7 billion US) based on a turnover of 59 billion euros – in its 2007 Annual Results. These figures are up 12.9 per cent on 2006 with a 66 per cent increase in trading profit, and the Automobiles sector almost doubled its profit over 2006, to 1.1 billion euros.

The Fiat Group also announced that in 2007 it addressed its net industrial debt, closing the year with 0.4 billion euros net cash.

With sales of 2.234 million vehicles, Fiat achieved its highest volume in seven years, generating revenues of 26.8 billion euros, up 13.1 per cent.

Fiat Group Automobiles – Alfa Romeo, Fiat and Lancia – almost tripled its trading profit to 803 million euros compared to 2006, lifting the return on sales from 1.2 per cent to 3.0 per cent.

Maserati and Ferrari contributed another 290 million euros in trading profit.

Fiat light commercial vehicles lifted its sales by 19.9 per cent around the world, thanks in part to the new Fiat Ducato and Scudo.

Driven by the success of existing ranges, together with new models to be launched in 2008, the Fiat Group plans to lift vehicle sales by another 200,000 in 2008.