Chrysler 2000 Annual Report Download - page 59

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DATI SIGNIFICATIVIHIGHLIGHTS
Giancarlo Boschetti,
Iveco’s Chief Executive Officer.
Revenues by geographical region
of destination
Employees by geographical region
12%
56%
10%
41%
49%
32%
Italy Rest of Europe Rest of the world
Iveco (Industrial Vehicle Corporation), today a wholly
owned subsidiary of Fiat, was created in 1974 as a result
of an agreement between Fiat and Klöckner-Humboldt-Deutz,
a German company. During the 1990s, Iveco expanded its
international presence, establishing joint ventures and new
companies on every continent.
(in millions of euros) 2000 1999 1998
Net revenues 8,611 7,387 6,649
Operating income 489 311 261
As a % of revenues 5.7 4.2 3.9
Income before minority interest 147 180 192
Cash flow 569 433 368
Capital expenditures 656 359 307
Research and development 227 215 200
Net invested capital 2,207 2,359 1,764
Number of employees 35,852 36,217 31,912
The market for heavy-load vehicles (curb weight ≥16 tons)
expanded by 4.5% to 243,800 units, due in part to an
acceleration of the vehicle replacement cycle. In this segment,
demand started to slow in Germany and other countries of
Northern Europe, but grew by more than 10% in Italy and
Spain.
During 2000, Iveco sold 164,800 vehicles worldwide, up 9.9%
over 1999 (149,900 units). When the approximately 42,700
units sold by licensees are added, total sales amount to
207,500 vehicles (192,000 units in 1999).
In Western Europe, Iveco shipped 130,900 vehicles, or 9.3%
more than in 1999, with higher sales recorded in all European
markets, particularly in the light-vehicle segment.
The greatest gains occurred in France (+14.9%), Italy
(+10.4%) and Germany (+9%). Sales were up less than the
European average in Spain (+5.3%) and down in Great
Britain (-4%).
In Eastern Europe, where market conditions were better
than in 1999, Iveco sold a total of 8,500 units, or 26.9%
more than in 1999.
Commercial Vehicles – IVECO
SALES PERFORMANCE
In Western Europe, demand for commercial vehicles totaled
684,000 units, or 8.6% more than in 1999, confirming a
positive trend that began in 1994. However, some of the local
markets showed signs of weakness during the final months
of the year.
Among the major European countries, demand was up sharply
in France (+16.7%), Italy (+11.5%) and Spain (+10.2%);
continued to improve in Great Britain (+7.5%); and expanded
at a slower pace in Germany (+2.1%), where it had grown
rapidly during the previous two years.
A breakdown by market segment shows strong demand
for light commercial vehicles (curb weight between 3.5 and
6 tons), with sales of 345,900 new units (+13.4%). This
outstanding performance had a positive impact on the entire
market, particularly in France.
Sales of intermediate vehicles (curb weight between 6.1 and
15.9 tons) totaled over 94,000 units, or 3.3% more than in
1999. The best gains were recorded in Italy, France and
Great Britain.