Chrysler 2000 Annual Report Download - page 49

DATI SIGNIFICATIVIHIGHLIGHTS
Roberto Testore,
Fiat Auto’s Chief Executive Officer.
Revenues by geographical region
of destination
Employees by geographical region
18%
42%
40%
22%
12%
66%
Rest of Europe Rest of the worldItaly
In the major European countries, demand was up only in
Great Britain (+1.1%). It faltered in Germany (-11.2%) and
weakened in France (-0.6%) and Spain (-1.8%). Elsewhere
in Europe, the Polish market, which had expanded steadily
since 1992, contracted sharply (-25.5%), due to an increase
in the tax on purchases of motor vehicles.
In Western Europe, demand for light commercial vehicles
continued to increase in 2000 (+4.7%), with especially strong
gains in Italy (+14.6%) and France (+9.9%).
In this market environment, Fiat Auto sold a total of
2,350,000 automobiles, or 0.9% more than in 1999, as
the introduction of new models in Europe — new Punto
and Lancia Lybra — enabled the Sector to offset lower sales
in another segment where the existing models (Bravo/Brava)
were being replaced. The launch of the 147 at the end of
October was particularly successful, with about 15,000
units sold during the last two months of the year. When the
contribution of associated companies is included, Fiat Auto’s
sales rise to 2,439,000 units, for a gain of 2.2% over the
previous fiscal year.
(in millions of euros) 2000 1999 1998
Net revenues 25,361 24,101 24,859
Operating income (loss) 44 (121) (108)
As a % of revenues 0.2 (0.5) (0.4)
Income (Loss) before
minority interest (599)(*) (493) (258)
Cash flow 732 855 1,146
Capital expenditures 1,412 1,464 1,373
Research and development 776 711 608
Net invested capital 4,220 5,021 5,863
Number of employees 74,292 82,553 93,514
(*) Does not include extraordinary items stemming from the agreement with General
Motors.
Automobiles – FIAT AUTO
Fiat built its first car in 1899. The Lingotto, the Company’s
first mass-production car factory, was inaugurated in Turin
in 1923. It now houses the Group’s headquarters. Other plants
were later opened in Turin, followed by additional facilities in Italy
and the rest of the world. Fiat’s domestic market extends beyond
Italy, to include the Mercosur countries and Poland.
INTRODUCTION
As explained in the introduction to the report on operations,
the data that present the operating performance of the
Automobile Sector include the results of Gruppo Fiat Auto
S.p.A. (now Fiat Auto Partecipazioni S.p.A.) for the first half
of the year and those of Gruppo Fiat Auto Holdings B.V. for
the second half, when all the Sector’s operating units were
transferred to the latter company. For the Automobile Sector,
the balance sheet data at December 31, 2000 are those of
Gruppo Fiat Auto Holdings B.V.
SALES PERFORMANCE
In 2000, the Western European automobile market contracted
after six years of continuous growth, with car sales falling
to 14.7 million units, or 2.1% less than in 1999. However,
demand continued to expand in North America. In the
Mercosur countries, there was a turnaround in Brazil
(+13.2%), but the Argentinian market continued to shrink
(-11.7%). In Italy, new vehicle registrations totaled 2,415,600
units, for a gain of 3.3% over the previous fiscal year.