Fiat Industrial closed the first quarter with revenues of 5,8 billion euros, in line with the first quarter of 2012, while profit excluding unusual items decreased to 195 million euros from 202 million in the first quarter of 2012 The company communicated it.
The group has revised downwards its prospects for 2013, "on the basis of performance to date and market recovery expectations for all sectors, as well as the persistence of strong conditions in the agricultural machinery market".
At this point, revenues are expected to grow between 3 and 4% (was +5%); the trading margin between 7,5% and 8,3% (it was between 8,3% and 8,5%) and the net industrial debt between 1,4 and 1,6 billion euros (it was between 1,1. 1,4 and XNUMX billion euros).
Group trading profit was €2013 million in the first quarter of 408, down €23 million from the €431 million in the first quarter of 2012. The margin on revenues was 7%.
The Group closed the first quarter of 2013 with an operating profit of 369 million euros (431 million in the same period of 2012). In the first quarter of 2013, net financial expenses amounted to 113 million euros, down from the 117 million euros of 2012. Net industrial debt at March 31, 2013 was 2.537 million euros (1.642 million euros at December 31, 2012).
Available liquidity (which includes €1,6 billion of available unused credit lines) is €5,1 billion. The decrease of 1,1 billion euros compared to 31 December 2012 was mainly determined by the absorption for the seasonal growth of working capital, as well as by the requirement relating to the growth of the financial services portfolio.
