Operating Sectors The Fiat Group in 1999 - Fiat SpA

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Fiat built its first tram in 1906, but officially entered the rolling stock market in 1917, when it acquired the Diatto works in Turin. In the 1920’s, the Company manufactured the world’s first electric locomotive, followed in the 1930’s by the Littorina, an enormously successful selfpropelled rail car equipped with an internal combustion engine, originally powered with gasoline and later with diesel fuel. In response to the need for faster, more comfortable and efficient transportation, Fiat Ferroviaria developed its tilting body train and a series of highspeed bogeys, which it started to manufacture in the 1970’s utilizing original and futuristic solutions. The Sector’s low-platform trams have made an important contribution to the development of light subways and surface urban transportation systems. Revenues by geographical region of destination Italy Rest of Europe Rest of the world Employees by geographical region Rolling Stock and Railway Systems FIAT FERROVIARIA Maurizio Magnabosco, Fiat Ferroviaria’s Chief Executive Officer. Highlights of the year Fiat Ferroviaria operates in rail and tramways, producing traction systems, rolling stocks of various types, railway bogeys, trams and subway systems. The Sector has been remarkably successful in the international markets with its Pendolino, a tilting-body train that can achieve higher speeds on existing railway lines and assure maximum ride comfort, with limited investments and a short implementation schedule. In 1999, the markets where the Sector operates were relatively stagnant, with the exception of urban transport systems in Italy. At December 31, 1999, Fiat Ferroviaria’s order portfolio totaled 1,288 million euros (1,599 million euros at the end of 1998). Revenues totaled 375 million euros in 1999, slightly less than in the previous fiscal year. Operating income was 13 million euros (3.5% of revenues), down from 18 million euros in 1998 (4.6% of revenues). Orders booked under extremely competitive conditions account for most of this decline. 1% 33% 66% 11% 89% Highlights in millions of euros 1999 1998 1997 Net revenues 375 389 384 Operating income 13 18 26 As a % of revenues Income (loss) before 3.5 4.6 6.7 minority interest 3 (1) 14 Cash flow 18 15 30 Capital expenditures 11 12 14 Research and development 9 9 9 Net invested capital 29 94 90 Number of employees 2,109 2,294 2,401 The Pendolino train Trains Trains in Trains on under operation order option Total Italy 40 – – 40 Switzerland 9 24 – 33 Spain 10 – 14 24 Germany 60 3 – 63 United Kingdom – 53 25 78 Finland 2 8 15 25 Portugal 5 5 – 10 Czech Republic – 7 – 7 Croatia – 3 – 3 Total 126 103 54 283 40 Operating Sectors – Rolling Stock and Railway Systems 41 Lisbon Oporto Italy Switzerland Total Production facilities 3 1 4 R&D centers 3 1 4 Competitive position 250 km/h on conventional tracks The Sector is a leader in the design and production of variablegeometry trains with active tilting-body systems, and holds a preeminent position in the design and production of railway, tram and subway bogeys. Lines in operation Contracts Madrid Valencia Glasgow Liverpool Birmingham London Barcelona Edinburgh Manchester Lyon Marseille Basel Bern Genève Düsseldorf Frankfurt a.M. Torino Genova Berlin Dresden Praha Stuttgart Furtimwald Zürich Firenze München Roma Hof Nünberg Napoli Salzburg Pescara Reggio Calabria Turku Tampere Wien Maribor Milano Venezia Ljubijana Bologna Bari Helsinki Revenues by business unit 10% 8% Pendolino trains 13% High-speed trains Other trains 14% Tram and subway systems 55% Components
Fiat has been active in the publishing business since 1926, when it established Editrice La Stampa, the eponymous publisher of Turin’s daily. The newspaper, which was created in 1867 as the Gazetta Piemontese, changed its name to La Stampa in 1895, when it was headed by Alfredo Frassati. Publikompass, a company founded in 1972 to sell advertising space for Italian communication media on a licensee basis, has significantly expanded its customer portfolio. In 1979, Fiat established Itedi, to which it transferred all its publishing and communications interests. Revenues by business unit Advertising Newspaper publishing Industrial publishing Publishing and Communications ITEDI Alberto Nicolello, Itedi’s Chief Executive Officer. Highlights of the year La Stampa, one of Italy’s premier non-specialized national circulation newspapers, is also present on the Internet with its own website, www.lastampa.it. The new edition of this site, which went on line on December 18, 1999 with content provided by a dedicated editorial staff, is recording as many as 100,000 page-hits a day. La Stampa Interattiva, a subsidiary that was set up toward the end of 1999, is developing an Internet portal in cooperation with CiaoWeb. Publikompass is a leader among Italian companies that solicits advertising sales on a licensee basis and is the advertising partner of 33 publishers. At the end of the year, the Sector sold a 75% interest in its non-strategic industrial publishing activities, which are headed by Satiz, to MSX International, a U.S. group. In 1999, net revenues totaled 413 million euros, down from the previous fiscal year due to the deconsolidation of the Satiz activities. Operating income was equivalent to 17 million euros (4.1% of revenues), compared with 19 million euros in 1998 (4.3% of revenues). In February 2000, Itedi launched Koinet, the first business-to-business portal developed by a major Italian group. Koinet is specifically designed to meet the communication needs of small and medium-sized businesses. 48% 33% 19% Highlights in millions of euros 1999 1998 1997 Net revenues 413 437 406 Operating income 17 19 11 As a % of revenues 4.1 4.3 2.7 Net income (loss) 11 – 2 Cash flow 19 11 13 Capital expenditures 8 9 7 Net invested capital 25 21 33 Number of employees 934 1,473 1,505 Editrice La Stampa La Stampa uses a complete range of electronic publishing tools: a professional database available worldwide in real time, CD-ROM publishing of multimedia projects, Internet presence through the www.lastampa.it website with a dedicated editorial staff, electronic distribution (Dayfax summary edition and an edition available at the website of the National Telemedicine Project in a version accessible to visually challenged persons). Competitive position La Stampa is Italy’s third-largest national circulation newspaper. Publikompass is the largest non-captive company licensed to sell advertising on behalf of Italian newspapers and enjoys a significant presence in the periodical, Internet and television advertising 42 Operating Sectors – Publishing and Communications 43 Publikompass Principal companies and businesses Newspapers ● La Stampa, with daily circulation of 400,000 copies, which are distributed with various supplements, and reach 1,650,000 readers. ● The weekly Specchio, with circulation of about 210,000 copies. Multimedia advertising licensee About 70,000 pages of advertising space sold and 100,000 customers. Sells advertising space for 11 newspapers, 11 periodicals, 6 local TV stations and 20 Internet sites. Editorial offices: Turin Correspondent offices: Rome, Milan, Washington, Moscow, Paris, London, Bonn and Brussels. Field offices in all the provincial capitals of the regions of Piedmont, Liguria and Valle d’Aosta. Collaborative relationships with Le Monde (of which Editrice La Stampa is a stockholder), The New York Times, The Los Angeles Times and The Guardian. Head office: Milan An area office in Rome. 24 branch offices in all the main Italian business centers and where the major clients are located. The staff consists of 298 employees and the sales organization of 320 agents. markets.
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Page 21 and 22: Magneti Marelli was founded in 1919
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Operating Sectors The Fiat Group in 1999 - Fiat SpA

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