Fiat Industrial to update targets with Q1 results

TURIN, April 8 Mon Apr 8, 2013 5:47am EDT

TURIN, April 8 (Reuters) - Fiat Industrial Chairman Sergio Marchionne said on Monday that the truck and tractor maker will update its 2013 targets when it releases first quarter results on April 30.

"We will update our targets when we release first quarter results," Marchionne said at the company's annual shareholders' meeting.

He confirmed Fiat Industrial's full year 2013 targets of net debt at between 1.1 billion euros and 1.4 billion euros, and a trading margin of between 8.3 percent and 8.5 percent of sales.

He also confirmed that Fiat Industrial plans to complete its merger with its U.S. unit CNH during the third quarter.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video