2006 Annual Report - Fiat SpA
2006 Annual Report - Fiat SpA
2006 Annual Report - Fiat SpA
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Consolidated Income Statement (*)<br />
(in millions of euros) Note <strong>2006</strong> 2005<br />
Net revenues (1) 51,832 46,544<br />
Cost of sales (2) 43,888 39,624<br />
Selling, general and administrative costs (3) 4,697 4,513<br />
Research and development costs (4) 1,401 1,364<br />
Other income (expenses) (5) 105 (43)<br />
Trading profit 1,951 1,000<br />
Gains (losses) on the disposal of investments (6) 607 905<br />
Restructuring costs (7) 450 502<br />
Other unusual income (expenses) (8) (47) 812<br />
Operating result 2,061 2,215<br />
Financial income (expenses) (9) (576) (843)<br />
Unusual financial income (9) – 858<br />
Result from investments: (10) 156 34<br />
- Net result of investees accounted for using the equity method 125 115<br />
- Other income (expenses) from investments 31 (81)<br />
Result before taxes 1,641 2,264<br />
Income taxes (11) 490 844<br />
Result from continuing operations 1,151 1,420<br />
Result from discontinued operations – –<br />
Net result 1,151 1,420<br />
Attributable to:<br />
Equity holders of the parent 1,065 1,331<br />
Minority interests 86 89<br />
(in euros)<br />
Basic earnings per ordinary and preference share (12) 0.789 1.250<br />
Basic earnings per savings share (12) 1.564 1.250<br />
Diluted earnings per ordinary and preference share (12) 0.788 1.250<br />
Diluted earnings per savings share (12) 1.563 1.250<br />
(*) Pursuant to Consob Resolution No. 15519 of July 27, <strong>2006</strong>, the effects of related party transactions on the Consolidated Income Statement are presented in the specific Income Statement<br />
schedule provided in the following pages and are further described in Note 35.<br />
86 <strong>Fiat</strong> Group Consolidated Financial Statements at December 31, <strong>2006</strong><br />
Consolidated Balance Sheet<br />
(in millions of euros) Note At December 31, <strong>2006</strong> At December 31, 2005<br />
ASSETS<br />
Intangible assets (13) 6,421 5,943<br />
Property, plant and equipment (14) 10,540 11,006<br />
Investment property (15) 19 26<br />
Investments and other financial assets: (16) 2,280 2,333<br />
- Investments accounted for using the equity method 1,719 1,762<br />
- Other investments and financial assets 561 571<br />
Leased assets (17) 247 1,254<br />
Defined benefit plan assets (26) 11 –<br />
Deferred tax assets (11) 1,860 2,104<br />
Total Non-current assets 21,378 22,666<br />
Inventories (18) 8,447 7,881<br />
Trade receivables (19) 4,944 4,969<br />
Receivables from financing activities (19) 11,743 15,973<br />
Other receivables: (19) 2,839 3,084<br />
- Current tax receivables 808 778<br />
- Others 2,031 2,306<br />
Accrued income and prepaid expenses (20) 247 272<br />
Current financial assets: 637 1,041<br />
- Current investments 31 31<br />
- Current securities (21) 224 556<br />
- Other financial assets (22) 382 454<br />
Cash and cash equivalents (23) 7,736 6,417<br />
Total Current assets 36,593 39,637<br />
Assets held for sale (24) 332 151<br />
TOTAL ASSETS 58,303 62,454<br />
- Total assets adjusted for asset-backed financing transactions 49,959 51,725<br />
(*) Pursuant to Consob Resolution No. 15519 of July 27, <strong>2006</strong>, the effects of related party transactions on the Consolidated Balance Sheet are presented in the specific Balance Sheet schedule<br />
provided in the following pages and are further described in Note 35.<br />
(*)<br />
<strong>Fiat</strong> Group Consolidated Financial Statements at December 31, <strong>2006</strong> 87