Fiat Industrial posts 297-million-euro net profit

Revenues up 7.9% in third quarter

Fiat Industrial posts 297-million-euro net profit

Turin, October 31 - Fiat Industrial presented strong results for the third quarter of 2012 on Wednesday despite the global economic downturn, posting net profits of 297 million euros. This represented a 45.6% improvement on the net profit of 204 million euros the group registered in the same period of 2011. Fiat Industrial is the company that holds together the non-auto activities that used to be part of the Fiat Group and were spun off in 2010. Its activities include the production of trucks, commercial vehicles and buses under the Iveco marque, agricultural and construction equipment with the CNH company and the FPT Industrial subsidiary that is specialized in the design and production of propulsion and transmission systems. It said that third-quarter revenues totaled 6.3 billion euros, up 7.9% on the same three months in 2011 , as "continued robust growth for agricultural equipment more than compensated for weaker trading conditions in other businesses". It said its trading profit was 575 million euros, up 91 million on the July-September period in 2011. "The Group now expects to close 2012 with revenues above 25 billion euros, trading profit in excess of two billion euros, net profit of approximately 0.9 billion euros, and net industrial debt between 1.2 and 1.5 billion euros," a statement said.

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