Chrysler 2000 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2000 Chrysler annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 87

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87

Report on Operations – Metallurgical Products
efficiency, which produced a measurable gain of 1.8%
of revenues, and reflects higher unit sales and favorable
exchange rates. These positive factors more than offset the
deterioration in the ratio between prices and product costs.
Net income amounted to 8 million euros (26 million euros
in 1999). The Sector’s interest in net income decreased to
0.1 million euros (24 million euros in 1999) due to higher
extraordinary expenses (provisions for restructuring programs
and the impact of a flood that hit Northern Italy in October
2000) and a rise in financial expenses.
Cash flow totaled 113 million euros (123 million euros
in 1999).
59
58
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Compared with 1999, sales were up 0.7% to 734 million euros
at the Cast Iron Business Unit, 18% to 848 million euros at the
Aluminum Business Unit and 27% to 291 million euros at the
Magnesium Business Unit. Customers outside the Fiat Group
accounted for 76% of total revenues, compared with 72%
in 1999.
Depreciation and amortization totaled 105 million euros (97 million
euros in 1999). Over the same period, outlays for research and
development grew from 23 million euros to 29 million euros.
Operating income rose to 101 million euros (5.4% of revenues),
up from 76 million euros (4.5% of revenues) in 1999. This
improvement was made possible by increased manufacturing
Concurrently with the pursuit of a globalization strategy,
Teksid is also focusing on strengthening its core business,
concentrating on high-tech cast-iron, aluminum and magnesium
products.
Over the last 20 years, the Sector’s geographical expansion
has been patterned to achieve the greatest proximity to its
customers’ facilities worldwide. The largest increases of production
capacity occurred in Europe, North and South America and the Far East.
Teksid worldwide
Rest Rest of
Italy of Europe the world Total
Production facilities 6 8 12 26
R&D centers 5 3 3 11
Revenues by business unit
Magnesium
Aluminum
Cast iron
39%
16%
45%
Revenues by customer
Fiat Group
Other carmakers
24%
76%
Penetrant-fluid inspection of a front suspension arm made of nodular cast iron. Manufacture of cores for rear suspension arm made of nodular cast iron.