Marchionne hopes of not having to touch the targets for 2009. A hope that did not like the markets, where the security is still collapsed. For some days well under quota nine euro (one year ago was worth 21 €). Given the decline in sales in Italy, Europe and Brazil in the second half of 2008, the demand for unemployment benefits and difficulties in the field of trucks and tractors, to us it seems a miracle that it should not revise the target of this' year. The goal is to make between 3.4 and 3.6 billion euro profit from trading operations between 2.4 and 2.6 billion net profit. More ambitious target for 2009 (4.3000000000-4.5000000000 profit from ordinary operations). The experts doubt that those of 2009 will be achieved. While they'll make in 2008, means that Marchionne had gone very, very careful.
He 'knows the art of financial reporting.
NB - There is a small problem which Sir Joe Marchionne never speaks. And it is the buy back. Fiat, in April 2007, bought back bonds as low. At June 26, date of last purchase, had accumulated 32.270000000 shares. The average price drop is € 10.5147 for a total investment of 664.6 million. Too bad that the title on Thursday night has closed to 8.6. The accumulated capital loss on the buy back (currently stands at 387 million) will all weigh on the financial position of Fiat Group. They will come better times ...
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