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Fiat sketches out worst-case scenario for 2009

CHICAGO
Wed Oct 22, 2008 10:29pm EDT

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CHICAGO (Reuters) - Italian industrial group Fiat (FIA.MI) laid out what it characterized as the worst-case scenario the company faces next year if the current market turmoil persists.

Although the company said it believed the market's troubles were temporary and would not impact the "overall substance" of its targets, it said it would begin to update investors quarterly on its expected 2009 performance.

The company said that under its current worst-case scenario:

* Global demand for its products could fall 10 to 20 percent

* Group trading profit -- a measure of operating profitability that strips out extraordinary items such as restructuring costs -- would fall into a range of 1.5 billion to 2.3 billion euros.

* The group's net income could fall into a range between 400 million and 1.2 billion euros.

(Reporting by James Kelleher; Editing by Clarence Fernandez)


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