Chrysler 2009 Annual Report Download - page 63

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REPORT ON
OPERATIONS
FINANCIAL
REVIEW -
FIAT GROUP
62
Following is a summary of the principal components of operating profit, broken down by Sector:
Gains/(losses)
Trading on the disposal Restructuring Other unusual Operating
profit/(loss) of investments costs income/(expense) profit/(loss)
(€ million) 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008
Fiat Group Automobiles 470 691 - 18 54 62 (199) (187) 217 460
Maserati 11 72 - - - - - - 11 72
Ferrari 238 339 2 - - - 5 2 245 341
Agricultural and Construction
Equipment (CNH) 337 1,122 1 4 87 (14) - 6 251 1,146
Trucks and Commercial Vehicles (Iveco) 105 838 - 1 22 12 (173) (48) (90) 779
FPT Powertrain Technologies (25) 166 - 1 58 - (31) (5) (114) 162
Components (Magneti Marelli) 25 174 (3) - 62 77 - (4) (40) 93
Metallurgical Products (Teksid) (12) 41 - - 4 5 2 13 (14) 49
Production Systems (Comau) (28) 21 1 - 5 3 - (18) (32) -
Other Businesses and Eliminations (63) (102) 3 (4) 20 20 5 (4) (75) (130)
Total for the Group 1,058 3,362 4 20 312 165 (391) (245) 359 2,972
Profit/(loss)
Net financial expense totalled €753 million (€947 million for 2008) and included a €117 million gain in the mark-to-market value of two stock
option-related equity swaps (a €263 million loss in 2008). Excluding the effect of those equity swaps, financial expense for the year increased €186
million, primarily due to the higher level of debt existing during the year.
Investment income for 2009 totalled €27 million, down from the €162 million figure for 2008 mainly due to a decrease in earnings for certain
joint venture companies.
The Group recorded a loss before taxes of €367 million (profit before taxes of €2,187 million for 2008). This reflects the significantly lower operating
profit (down €2,613 million) and a decrease in investment income (down €135 million), which were partially compensated for by a €194 million decrease
in net financial expense.
Income taxes totalled €481 million (€466 million for 2008), of which €99 million for IRAP (€168 million for 2008) and €24 million for taxes relating to prior
periods €23 million for 2008) with the remainder relating to the taxable income of companies operating outside Italy.
The year closed with a net loss of €848 million, compared with a profit of €1,721 million for 2008.
The loss attributable to owners of the parent was €838 million (profit of €1,612 million for 2008).