Fiat’s 2009 results will beat the average figures from analysts

Article by Christian A., on August 26, 2009

CEO Sergio Marchionne, at an awards presentation, said that Fiat S.p.A.'s 2009 results will beat the average of consensus figures from analysts. Marchionne said that the Italian government is not offering tax breaks on car sales in 2010 but that the company will be able to take that blow and will be even better.

The fourth quarter and annual results for Fiat, which owns a 20% stake in Chrysler Group, is due on Jan. 25 but visibility for 2010 and 2011 remains limited ahead of a new industrial plan.

Fiat's consensus forecast is for group trading profit of 460 million euros for the fourth quarter and just over Fiat's target of 1 billion euros for the year. In Fiat's poll, analysts were set to arrive at the consensus on Jan. 7.

However, some brokers had suggested that Fiat could beat the consensus based on Italian, Brazilian and European car sales data released since Jan. 4.

An analyst said that sales were higher than the consensus forecast, hence, a net industrial debt under 5 billion euros ($7.10 billion) is expected, because working capital grew less.

Two other analysts from leading Italian institutions agreed. The data from the consensus compiled by Fiat indicated that the auto trading profit should be 200 million euros and group net industrial debt must stand at 5.015 billion euros.

Topics: fiat, sales

If you liked the article, share on:

Comments

Recommended

Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries