Skip navigation
Newswire

Fiat Industrial cuts 2013 targets

MILAN, April 30 (Reuters) - Italian truck and tractor maker Fiat Industrial has cut its 2013 targets, saying it sees full year revenue growing by up to 4 percent, and trading margin at between 7.5 percent and 8.3 percent of sales.

It said it sees net industrial debt at between 1.4 billion and 1.6 billion euros this year, up from the range of 1.1 billion to 1.4 billion euros it was forecasting at the end of January.

Previously, it was calling for a 5 percent increase in revenue in 2013 and a trading margin of between 8.3 percent and 8.5 percent of sales (which works out to about 2.2 billion-2.3 billion euros).

Shares fell after the announcement and were down 3.3 percent at 1330 GMT.