Chrysler 2008 Annual Report Download - page 51

Report on Operations Financial Review – Fiat Group50
Financial Services for Fiat Group Automobiles reported
revenues of €160 million for year, compared with the €127
million figure for 2007. The €33 million increase (+26%) was
principally attributable to growth in financing activity through
the sales network in Brazil.
Financial Services for the Agricultural and Construction
Equipment Sector reported net revenues of €1,169 million,
largely in line with 2007. The increase in the managed portfolio
was offset by negative currency translation effects (in USD
terms, revenues increased 8.2%).
Iveco Financial Services had net revenues of €137 million, up
17.1% over the €117 million figure for 2007, principally due to
increased business volumes in Eastern Europe.
Trading Profit totalled €324 million for the year, down €15
million over 2007.
Financial Services
In 2008, Financial Services achieved Net Revenues of €1,477
million, a 4.8% increase over 2007, driven primarily by higher
sales volumes for Fiat Group Automobiles and Iveco for the
year.
(€ millions) 2008 2007 % change
Fiat Group Automobiles 160 127 26.0
Ferrari 14 8 75.0
Agricultural and Construction Equipment (CNH – Case New Holland) 1,169 1,158 0.9
Trucks and Commercial Vehicles (Iveco) 137 11 7 1 7. 1
Holding and Other Companies, and Eliminations (3) – n.a.
Total 1,477 1,410 4.8
(€ millions) 2008 2007 Change
Fiat Group Automobiles 40 49 -9
Ferrari 2–2
Agricultural and Construction Equipment (CNH – Case New Holland) 265 277 -12
Trucks and Commercial Vehicles (Iveco) 18 13 5
Holding and Other Companies, and Eliminations (1) –-1
Total 324 339 -15
Trading profit for CNH – Case New Holland’s Financial Services
totalled €265 million for the year, compared with €277 million
for 2007. In USD terms, trading profit increased 2.6% driven by
increased business volumes.