Fiat Industrial Q1 2013 trading in line with Q1 2012

6892 Fiat Industrial’s (FI) revenues of €5.802 billion in Q1 2013 were just 0.6% down on its €5.837 billion revenues of Q1 2012, the Group has disclosed.

FI said a growth in its agricultural machinery and engines businesses was able to offset “more challenging” trading conditions in the construction equipment and truck and commercial vehicles sectors.

The Group posted a trading profit of €408 million in Q1 2013, down from €430 million over the same three months of 2012. Meanwhile, net industrial debt increased to €2.5 billion. This figure is said to be a reflection of seasonal working capital absorption and sustained capital expenditure. Available liquidity, said FI, totalled €5.1 billion.

Within FI, Agricultural and Construction Equipment (1595 CNH) posted revenues of €3.797 billion – a 0.7% increase over Q1 2012.

Trucks and Commercial Vehicles (2409 Iveco) reported revenues of €1.825 billion, a 3.9% drop from Q1 2012 revenues.

FI’s Powertrain business (FPT Industrial) achieved results of €740 million, a 9.1% increase attributable, said FI, to higher volumes.