March 21, 2013 / 5:31 PM / in 5 years

Pininfarina car designer returns to profit in 2012

MILAN, March 21 (Reuters) - Italian automotive design company Pininfarina returned to profit in 2012, its first since 2004, as lower financial charges from a debt restructuring helped its bottom line and its design and engineering business improved.

Pininfarina has designed cars for Ferrari, Maserati, Rolls-Royce, and Cadillac, among others. It has shut down its manufacturing operations to focus solely on design after a 2009 capital increase.

A 182.6 million-debt restructuring signed in April extended the company’s repayment plan from 2015 to 2018.

Pininfarina said in a statement on Thursday it made an operating loss in of 8.2 million euros in 2012, and a net profit of 32.9 million euros ($425.25 million) because it will benefit from a one-time gain of around 45 million euros.

In 2011 it posted a net loss of 11.5 million euros.

$1 = 0.7737 euros Reporting by Francesca Landini

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below