Fiat has communicated the consensus estimates of around twenty financial analysts for the second quarter on the group's website, in preparation for the July 26 board meeting. The expected net profit is 110 million euros, in a range that goes from a minimum of 80 million to a maximum of 160. The operating result should amount to 485 million euros, while the pre-tax profit is estimated at 290 million euros.
Estimates for full-year 2011 forecast a net profit of 570 million euros, an operating profit of 2,22 billion and net industrial debt of 4,83 billion. The company specified that the estimates for the second quarter include one month of results from Chrysler, the forecasts for 2011 include 7. In 2012, according to analysts, net profit should approach 1,6 billion euros. As regards Fiat Group Automobiles, an operating profit of 175 million euros is estimated, 155 for Chrysler and 95 for Ferrari and Maserati.
Meanwhile, Lingotto, grappling with the controversy over investments in Italian plants, is looking for a site for car assembly in Russia. In recent weeks, the Russian Minister of Economic Development, Elvira Nabjullina, announced agreements with Fiat, hinting at greater concessions thanks to the long-standing relationship between Turin and Moscow.
The agreement with the Gaz group that was supposed to bring production to Nizhny Novogord seems to have faded, because VW and GM have already signed an agreement for the plants in the city on the Volga. The Russian bank Sberbank has thus proposed to the Turin-based company the site in Cherkessk, in the Caucasus, where Derways, a Russian manufacturer in a joint venture with two Chinese companies, has its headquarters. Ingot is expected to produce eight models in Russia, mainly Fiat and Chrysler.
