Chrysler 2004 Annual Report Download - page 75

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73
Magneti Marelli
COMPONENTS — MAGNETI MARELLI
Revenues by geographical
region of destination
Employees by geographical
region
Italy Rest of Europe Rest of the world
0 50% 100%
SALES PERFORMANCE
For Magneti Marelli, 2004 was a period of consolidation
and business growth.
At the sales level, the Sector strengthened its relationships
with major manufacturers. All product lines booked a significant
number of orders for new models which will make it possible to
increase the percentage of revenues generated by non-captive
customers.
Highlights of each Business Unit’s performance are as follows:
Lighting Group
Revenues at December 31, 2004 totaled 1,084 million euros, an
increase of 7% over the previous year on a comparable exchange
basis. This increase was largely due to the new high intensity
discharge xenon headlamps and adaptive front lighting systems.
The most important new orders received during the year were
from BMW, Mercedes-Benz, Chevrolet, AUDI and Volkswagen.
Engine Management
Revenues at December 31, 2004 totaled 775 million euros,
a 6.5% increase over the previous year’s 742 million euros on
a comparable exchange basis. Much of this increase stemmed
from the introduction of the Diesel Buy system.
In 2004, an agreement to develop a new Multijet diesel injection
system was signed with Siemens VDO Automotive.
HIGHLIGHTS
(in millions of euros) 2004 2003 2002
Net revenues 3,804 3,206 3,288
Operating result 116 32 (16)
EBIT (*) 98 (41) (348)
Net result before
minority interest 55 (90) (435)
Cash flow (**) 236 83 (245)
Capital expenditures 187 148 148
Research and development 193 158 162
Net invested capital 591 540 524
Number of employees 21,868 19,879 20,716
(*) It includes non-operating income and expenses.
(**) Net result + depreciation and amortization.