Chrysler 2005 Annual Report Download - page 37
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The trading profit of Financial Services was 318 million euros, compared with a profit of 276 million euros in 2004. In particular:
the decrease reported by Fiat Auto’s Financial Services (in 2005, its trading profit was 60 million euros, compared with 65 million euros
in 2004) was mainly due to the contraction in financing to suppliers and the previously mentioned change in scope of consolidation, which
were only partially offset by improvement in financing activity outside of Europe (Brazil and Argentina);
the trading profit of CNH’s Financial Services rose from 188 million euros in 2004 to 235 million euros in 2005.The improvement stemmed
from higher margins and volumes for dealer network financing and continued improvement in portfolio quality;
Iveco’s Financial Services closed the year with a trading profit of 10 million euros, which was substantially in line with the trading profit
of 11 million euros reported in 2004, in spite of the previously mentioned sale of activities.
36 Reporton Operations Financial Review of the Group
01 Report on Operations