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Fiat posts trading profit of 3.4 billion euros for 2013

Net profit of 1.951 billion, debt falls to 6.6 billion

29 January, 12:37
Fiat posts trading profit of 3.4 billion euros for 2013

(ANSA) - Rome, January 29 - The Fiat Group said Wednesday that its trading profit in 2013 was 3.4 billion euros.

It said this was down from 3.5 billion euros in 2012, but stressed that profits actually increased by 0.1 billion euros on a currency-adjusted basis.

Fiat, which bought full control of American carmaker Chrysler last week, said it registered a net profit of 1.951 billion euros.

This included a 1.5-billion-euro boost from the recognition of net-deferred tax assets related to a Chrysler offset by 0.5 billion euros in net unusual charges. It said net industrial debt stood at 6.6 billion euros on December 31, 2013, down from 8.3 billion euros at the end of the third quarter, thanks to fourth-quarter cash flow generation of 1.4 billion euros from Chrysler and 0.3 billion euros from Fiat without Chrysler.

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