Chrysler 2008 Annual Report Download - page 67
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Report on Operations Significant Events Subsequent to Year End and Outlook66
We believe that we will continue to experience erratic
fluctuations in market sentiments throughout at the least the
first semester. It is for these reasons that we have chosen a
strategy of updating the financial markets on a quarterly basis
on expected 2009 performance, as evidence materializes about
the ultimate shape and quality of the various product demand
curves we face.
Notwithstanding this uncertainty, the Group is of the view that
the following conditions will materialize in 2009.
Global demand for our products will decline approximately
~20% compared to 2008.
Group trading profit will be in excess of €1 billion.
Restructuring charges of ~€300 million.
Net profit for the Group will be in excess of €300 million.
Group net industrial cash flow will be in excess of €1 billion,
with net industrial debt levels below the €5 billion mark.
While these are yearly objectives, quarter over quarter
performance is expected to be uneven, with the first quarter of
2009 being particularly difficult. Improvements should be
visible in the remaining 3 quarters of 2009, as the impact of the
restructuring initiatives begins to be felt.
While working on the achievement of our objectives, the Fiat
Group will continue to implement its strategy of targeted
alliances, in order to optimize capital commitments and reduce
risks.