The Fiat Group has recorded its largest ever trading profit in its 2007 Annual Results, with a trading profit of Euro 3.2 billion based on a turnover of Euro 59 billion, up 12.9 per cent on 2006 with a 66 per cent increase in trading profit and the Automobiles sector almost doubling its profit over 2006 to Euro 1.1 billion.
The Fiat Group has also announced that it has extinguished its net industrial debt in 2007.
With sales of 2.234 million vehicles, Fiat achieved its highest ever sales since 2000, generating revenues of Euro 26.8 billion, up 13.1 per cent.
Fiat Group Automobiles – Alfa Romeo, Fiat and Lancia – almost tripled its trading profit to Euro 803 million compared to 2006, lifting the return on sales from 1.2 per cent to 3.0 per cent.
Maserati and Ferrari contributed another Euro 290 million in trading profit.
Driven by the success of the GranTurismo and the Quattroporte, Maserati recorded a profit for the first time since its acquisition by Fiat, transforming a Euro 33 million loss in 2006 to Euro 24 million trading profit in 2007, with a 33.7 per cent increase in net revenues over the year and a 45 per cent increase in the final quarter. Maserati sales rose by 30.7 per cent to 7496 units.
Ferrari deliveries rose by 11.1 per cent to 6584 and the world’s leading supercar maker reported a profit of Euro 266 million, up 45.4 per cent.
Fiat light commercial vehicles lifted its sales by 19.9 per cent around the world, driven by the success of the new Fiat Ducato and Scudo.Driven by the success of existing models and two key new models to be launched in 2008, the Fiat Group plans to lift vehicle sales by another 200,000 in 2008.
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