Chrysler 2009 Annual Report Download - page 111

REPORT ON
OPERATIONS
OPERATING
PERFORMANCE
BY SECTOR
110
COMPONENTS
Magneti Marelli
HIGHLIGHTS
(E million) 2009 2008
Net revenues 4,528 5,447
Trading profit/(loss) 25 174
Operating profit/(loss) (*) (40) 93
Investments in tangible and intangible assets 356 474
of which capitalised R&D costs 114 118
Total R&D expenditure (**) 245 268
No. of employees at year end 31,628 33,216
(*) Including restructuring costs and other unusual income/(expense).
(**) Includes capitalised R&D and R&D charged directly to the income statement.
OPERATING PERFORMANCE
The global economic crisis had a significant impact on performance throughout year. The impact was
most severe in the first half of the year, while in the second half the positive effects of external measures
(e.g., government incentives) and internal measures (e.g., cost cutting implemented by the Sector)
began to show through. However, these measures did not fully offset the negative trend experienced in
the first half of the year.
During 2009, the Sector signed several important agreements for the development of innovative products in its
core components activities.
In January, it announced the launch of a technological partnership with Brembo and Pirelli to develop cutting-
edge solutions for the Italian and international automotive industry.
Also in January, Magneti Marelli formalized its agreement with the Indian group Unitech Machines Limited for
the design, production and assembly of electronic automotive components in India through the acquisition of
a 51% interest in Magneti Marelli UM Electronic Systems Private Limited.
In April, SAIC Magneti Marelli Powertrain Co. Ltd. - a 50/50 joint venture between Magneti Marelli and Shanghai
Automobile Gear Works - was formed in China to produce hydraulic components for Magneti Marelli’s AMT
(Automated Manual Transmission).
In May, Magneti Marelli and Politecnico di Torino signed a 5-year partnership agreement for collaboration in the
areas of research and innovation, teaching and technical training.
In November, Magneti Marelli and Samsung Mobile Display signed a cooperation agreement for the design and
development of new generations of display-based products for application to automotive instrument clusters,
navigation devices and infomobility applications.
In December, Magneti Marelli and Telit Communications S.p.A. signed a memorandum of understanding for
the development of in-car information and tracking capabilities and services globally, with a particular focus on
Europe and Brazil.