sabato 14 giugno 2014

Fiat confirms revenue targets of 93 bn euros

CEO says EC anti-trust probe 'not a problem for us'

(ANSA) - Venice, June 13 - Sergio Marchionne, chief executive of Fiat Chrysler Automobiles, on Friday confirmed the group's financial targets for 2014 including revenues of about 93 billion euros. Net income will reach between 0.6 billion euros and 0.8 billion euros, he said.

Marchionne also said that a European Commission anti-trust probe involving Fiat and two other multinational companies "is not a problem for us". peaking on the sidelines of a conference in Venice, he said the investigation opened in Brussels will find nothing against Fiat. Elier this week, the EC announced the probe into whether tax arrangements granted by three EU countries amounted to illegal State aid.

The EU's antitrust regulator is examining whether tax deals granted by Luxembourg, Ireland and the Netherlands respectively, to Fiat Finance and Trade, Apple and Starbucks were in contravention of European competition rules. "In the current context of tight public budgets, it is particularly important that large multinationals pay their fair share of taxes," said EU antitrust chief Joaqun Almunia. Ad hoc tax agreements are not illegal per se under European law, but "they could contain illegal State aid if they involve specific and selective advantages to some companies or groups of companies," the EU regulator said.

Marchionne added that expectations for 2014 Maserati orders will "maybe" reach the 40,000 target and the luxury line "may" end the year with more losses than gains. Taking a longer view, production appears to be "on pace" for a 2018 target of 75,000 Maseratis. 

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