Fiat says 2007 debt target may be conservative, may update end-Q1 |
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Published
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Thu, 25 Jan 2007 17:42
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MILAN (AFX) - Fiat SpA's target of a net industrial debt of about 2 bln eur at the end of 2007 may be conservative, chief executive Sergio Marchionne said during a conference call.He added that the company could update the figure at the end of the first quarter.The industrial debt, which does not take into account the debt of Fiat's financial service units, stood at 1.8 bln eur end-2006.He added that 'for now' he confirmed the 2007 net profit of 1.6-1.8 bln eur.Marchionne said that Fiat currently had 8 bln eur in liquidity, but that he intends to reduce that amount to 5 bln by the end of the first half of 2007, without elaborating.philip.webster@thomson.compw/lamCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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