Chrysler 2000 Annual Report Download - page 68

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Report on Operations – Production Systems
Net income for the year came to 6 million euros, compared
with a net loss of 8 million euros in the previous fiscal year.
The Sector’s interest in these results was net income of 6 million
euros in 2000 and a net loss of 10 million euros in 1999.
Cash flow more than doubled to 63 million euros, up from
30 million euros in 1999.
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Aims (Australia) Pty. Ltd., which then changed its name to
Comau Australia Pty. Ltd. In September 2000, it established
a new company in China called Comau (Shanghai) Automotive
Equipment Co. Ltd.
RESULTS FOR THE YEAR
At 2,440 million euros, revenues were more than 44% higher
than in 1999. This increase is due in part to changes in the
scope of consolidation — the former Pico operations are
reflected for the full year instead of the eight-month basis
used in 1999 — and favorable exchange rates. On a
comparable basis, revenues still show a healthy increase of
17.5%, thanks to increased orders from customers in Europe
and the growing contribution of the maintenance service
operations.
Operating income grew in absolute terms and as a percentage
of revenues, rising to 87 million euros (3.6% of revenues),
up from 43 million euros (2.5% of revenues) in 1999. This
improvement reflects higher business volume, changes in
the scope of consolidation and favorable exchange rates.
In addition, substantial gains in efficiency helped the Sector
absorb rising price and cost pressures.
Depreciation and amortization totaled 57 million euros, about
the same as in 1999. Research and development expenditures
also held steady at 20 million euros.
Comau’s objective is to supply simple, cost-effective
and flexible automation systems, working closely with
its customers from the design phase through every step of
the manufacturing process: from engineering to production,
assembly and maintenance services.
Comau’s global presence enables it to guarantee full-service support
for its customers anywhere in the world.
Revenues by business unit Revenues by customer
Fiat Group
Other carmakers
32%
68%
Welding
Moulding
Mechanical Engineering
Maintenance
Others
7%
18%
18%
8%
49%
Comau worldwide
Rest Rest of
Italy of Europe the world Total
Production facilities 6 14 19 39
R&D centers 9 4 1 14
Chassis welding line.