MILAN, March 28 (Reuters) - Holding Ifil , led by the Fiat -controlling Agnelli family, said on Friday it would not pay a dividend for 2002 when it made net losses at both group and parent company levels.
Ifil said parent company Ifil SpA made a net loss of 516.4 million euros ($552.7 million) in 2002, hit by writedowns of its stakes in Fiat, Club Mediterranee and depreciation of its own shares.
But the holding said in a statement it expected the parent would turn to profit in 2003.
Fiat also said on Thursday it would not pay dividends for 2002, when it made a record loss.
Ifil confirmed it made a group net loss of 367 million euros last year, hit by 430 million euros in Fiat-related losses.
Ifil and another Agnelli holding, Ifi , are undergoing a streamlining which will include transfer of holdings in Fiat, bank Sanpaolo IMI and soccer club Juventus from Ifi to Ifil.
Ifil shares were down 3.1 percent at 2.14 euros by 1230 GMT, when Fiat and the DJ Stoxx index of European auto stocks were both down about two percent .