THE FIAT GROUP IN - Fiat SpA

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Statutory Auditors met 16 times. The independent auditors attended five of these meetings. ❚ The Board of Statutory Auditors received no complaints under Article 2408 of the Italian Civil Code and, at this point, is not aware of any memoranda sent to Fiat S.p.A. ❚ During the course of the year we issued the various opinions that the Board of Statutory Auditors is required to provide pursuant to law. ❚ The Company has complied promptly with the recommendations of the Code of Conduct issued by the Committee for the Corporate Governance of Listed Companies and a member of the Board of Statutory Auditors was present at all Audit Committee meetings. ❚ The auditing firm of Arthur Andersen S.p.A., which already audits the Company’s statutory financial statements and the consolidated financial statements, performs a limited audit of the semiannual report and audits the Form 20-F, was also asked to perform the assignments listed below, for which it received the fees listed separately in each case. – Analysis of the accounting treatment under Italian, international and U.S. accounting principles of extraordinary transactions carried out by Fiat S.p.A. and its subsidiaries (fees totaling 129,000 euros). – Preparatory analysis for the adoption of international accounting principles (fees totaling 46,000 euros). – Support in preparing the Fiat Group Annual Report at December 31, 2000 in accordance with the requirements of Form 20-F (fees totaling 17,000 euros). – Audit of the costs incurred for the automotive engineering degree program, as set forth in a report by the Permanent Joint Committee (fees totaling 5.200 euros). Based on direct checks and on the information received from the Independent Auditors, we have verified that the statutory financial statements, which show net income of 378,673,294 euros, have been prepared and presented in accordance with the applicable provisions of the law. Therefore, we recommend that you approve them, together with the motion for allocation of net income submitted by the Board of Directors. The Board of Directors has also asked you to approve the purchase of treasury shares, for the amounts and with the procedures and deadlines set forth in the respective Report. Insofar as it concerns matters under our jurisdiction, we certify that the proposed transaction is consistent with the provisions of the pertinent legislation. Lastly, we remind you that at your next Ordinary Stockholders’ Meeting you will be required to appoint a new Board of Directors, due to the expiration of the term of office of the Board you last elected. Turin, April 18, 2002 The Statutory Auditors Cesare Ferrero Giorgio Ferrino Lamberto Jona Celesia 127 127
The Fiat Group in 2001 Balance Sheets, Statements of Operations and Notes Published by: Euphon – Turin, Italy Editorial Coordination: Micrograf – Turin, Italy Design by: Fantinel & Associati – Turin, Italy Printed by: Puntografico – Brescia, Italy Printed in Italy May 2002 01UK
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THE FIAT GROUP IN 2001 Consolidated
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Financial Highlights of the Fiat Gr
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2 2 Consolidated Balance Sheet ❚
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8 8 Consolidated Statement of Opera
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10 10 the subsidiaries operating in
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12 12 the exchange rate in effect a
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14 14 the Government or the EU are
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16 16 In particular, with respect t
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18 18 Unconsolidated subsidiaries a
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20 20 Receivables At 12/31/2001 At
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22 22 5 Receivables An analysis of
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24 24 Financial receivables amount
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26 26 Retained earnings and Other r
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28 28 Other reserves Restructuring
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30 30 Less From 5% From 7.5% From 1
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32 32 Commitments (in millions of e
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34 34 15 Value of production Revenu
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36 36 Other operating costs (in mil
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38 38 The balance of Interest incom
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40 40 20 Income taxes Income taxes
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42 42 Research and development expe
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44 44 Reconciliation of Net Income
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46 46 23 Translation of foreign fin
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48 48 Balance Sheet ❚ ASSETS Dece
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50 50 Balance Sheet ❚ MEMORANDUM
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52 52 Statement of Operations ADJUS
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54 54 Receivables and payables deno
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56 56 Depreciation taken in 2001 wa
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58 58 Decreases include: (in thousa
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60 60 The latter advance was paid p
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62 62 8 Accrued income and prepaid
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64 64 The table below shows the cha
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66 66 12 Payables Borrowings from b
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68 68 14 Memorandum accounts Unsecu
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70 70 16 Costs of production Raw ma
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72 72 This item amounted to 1,278 t
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74 74 ANALYSIS OF FIXED ASSETS AND
Page 79 and 80: 76 76 Art. 10, Law No. 72 of March
Page 81 and 82: 78 78 List of investments (continue
Page 83 and 84: 80 80 List of investments (continue
Page 85 and 86: 82 82 Treasury stock at December 31
Page 87 and 88: 84 84 Analysis of cash flow (in tho
Page 89 and 90: 86 86 Stock options granted to Dire
Page 91 and 92: 88 88 The Companies of the Fiat Gro
Page 93 and 94: 90 90 Subsidiaries consolidated on
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Page 111 and 112: 108 108 Subsidiaries valued by the
Page 113 and 114: 110 110 Subsidiaries valued at cost
Page 121 and 122: 118 118 Associated companies valued
Page 123 and 124: 120 120 Associated companies valued
Page 125 and 126: 122 122 Other companies valued at c
Page 127 and 128: 124 124 Report of the Independent A
Page 129: 126 126 Report of the Board of Stat
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THE FIAT GROUP IN - Fiat SpA

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