Chrysler 2000 Annual Report Download - page 54

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Report on Operations – Automobiles
Fiat Auto earned operating income of 44 million euros, compared
with a loss of 121 million euros in 1999. The return on sales
was a positive 0.2%, up from a negative 0.5% a year earlier.
However, the net loss for the fiscal year widened to 599
million euros (493 million euros in 1999) due to an increase
in net financial expenses that was caused by a higher level
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Fiat Auto worldwide
Rest Rest of
Italy of Europe the world Total
Production facilities 13 2 4 19
R&D centers 13 – 2 15
Dealers 648 1,759 1,007 3,414
of the average indebtedness for the year and a decline in net
investment income. The Sector’s interest in net loss amounted
to 589 million euros (loss of 493 million euros in 1999).
Cash flow totaled 732 million euros (855 million euros in 1999)
after depreciation and amortization of 1,331 million euros
(1,348 million euros in 1999).
The Alfa 147 was honored with the prestigious 2001 Car of the Year award.
Innovation applied to the development, styling and
manufacturing of new products represents a core value of
Fiat Auto’s growth strategy.
In recent years, the Sector’s increasing effort to develop a
comprehensive range of services that can supplement its traditional
vehicle-buyer financing activities has led to a significant expansion in
the range of opportunities for direct customer contacts.
Fiat Auto views globalization as a key strategic guideline.
Accordingly, it is focusing its efforts on the emerging
countries, because these markets offer the greatest demand growth
potential over the intermediate and long term, but has structured its
capital investment programs using a modular approach that enables
it to manage effectively any unexpected risks.