Fiat Reports its Q4 Earnings and Sales, Augurs a Profitable 2010
Fiat SpA, the Italian carmaker, that bought a 20 percent stake in Chrysler Group LLC last year, reported its fourth-quarter earnings and sales that surpasses analysts' speculations, and unexpectedly revealed on Monday it will pay a dividend.
Shares of Fiat gained 0.1% in recent trading on Borsa Italiana. The shares have fallen 10% over the last three months, but are up 172% over the last 12 months.
Fiat rose as much as 28 cents, or 2.8 percent, to 10.18 Euros and unchanged as of 2:50 p. m. in Milan trading. The stock has more than doubled in the past 12 months.
In addition, the net revenue witnessed a rise of 3.6% to 13.6 billion Euros, while the automobiles revenue climbed 23% during the fourth quarter, and revenue at Fiat's agricultural and construction equipment division CNH reported a fall of 22% in euro terms.
However, sales at the truck and commercial vehicle unit Iveco squeezed by 8%. Components and productions systems revenue rose 4%.
Net industrial debt registered a reduction to 4.4 billion Euros in 2009 from 5.9 billion Euros a year earlier.
The company poses its optimistic outlook as it envisages an overall improvement in all its sectors. However, it is sceptic about its automobiles business as it depends up on the continued availability of reliable eco-incentives programs to strengthen demand in Western Europe.
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