2010:THESEARETHEFIVECOREPRINCIPLES,THEFIVEFUNDAMENTALPILLARSBEHINDTHEPROFOUNDCULTURALCHANGETHATHASTAKENPLACEATFIATSergioMarchionneChiefExecutiveOfficer,FiatS.p.A.㈌䇃㏎㒍⭝㚽㑇㈛䎚䅃㬗䄜㒘⭥ら㾈䄵ゑ㾦㬹⧱㝖ᷛ䎃㾊㬨㸳㗨⭥㹆⫔⼬㾥䊎䋓᷍䄓㬨㵔㒍⳧䁨㲹㪏㋭㸥⿐⢅ⷐ⭥㹆⫔〚⡟䐈䑚FIATGROUPKEYFIGURES1GROUP9OPERATINGSECTORS21COMMERCIALBRANDS117R&DCENTRES190NATIONALMARKETS188PLANTS14,000INDIVIDUALSDEDICATEDTOINNOVATION190,014EMPLOYEES€1,692,000,000FORRESEARCHANDDEVELOPMENT€48,900,000FORTRAINING€21,787,000FORSOCIALINITIATIVES€50,102,000,000INREVENUES1ゐ㵦9䄖㹒㒍䈓21㩭䄖㠘㝧117コ䁱ⳃ䐱㾥190⺛コ㬱⧂188ヅ⹅⧈14,000㘜⪕㾣㦬⤦190,014㘜䊒⹅1,692,000,000㝘䊋䁱ⳃ㵗㧌48,900,000㝘䊋㞁䁖㵗㧌21,787,000㝘䊋㪈。䋑㦯㵗㧌50,102,000,000㝘䊋㬶㧌2009RESULTS2009010,00020,00030,00040,00050,00060,0002008200750,10259,56458,529REVENUES(€million)01,0002,0003,0004,000TRADINGPROFIT20082007(€million)20091,0583,3623,23320090-20,000-10,000-12,500-15,000-17,500-7,500-5,000-2,50050020082007(15,898)(4,418)(17,954)(5,949)355(10,423)FiatGroupIndustrialActivitiesNET(DEBT)/CASH(€million)200901,0001,500500-500-1,0002,0002,500PROFIT/(LOSS)20082007(€million)(848)1,7212,054Agricultural&ConstructionEquipment20.1%Trucks&CommercialVehicles14.2%Components&ProductionSystems8.5%Automobiles56.2%REVENUESBYBUSINESSOtherBusinesses1.0%PLANNINGTHEFUTURE-ANEWFIAT⺇⿏㸕㎕㾣⳧䁨㲹ゐ㵦LEADERSHIPCOMMITMENT-MANAGEMENT㒍⭝䎀⧱㝖㏎⥄PRIDEINKNOW-HOW-THESECTORS䅞䄵㸋⼡⭥䓉䇱䐋㬗䄖㹒㒍䈓INVENTINGFORGROWTH-INNOVATIONANDTECHNOLOGY㋋⪕䋗⧅⮄⪕㾣䈌ゝ㭖ARESPONSIBLECOMMITMENT-SUSTAINABILITY䋑㦯⭥⧱㝖㋪⧷㿙㾵WORKINGTOGETHER-FIATGROUPAROUNDTHEWORLD㵍㾥㾎㑇䈌㬡ㆈ㵍䊻⭥⳧䁨㲹ゐ㵦ATTHEROOTOFOURFUTURE-AHISTORYOFEXCELLENCE㸕㎕⭥⡟䊕䄜⤠䓠䊞⭥㏛㬘FIATGROUPINCHINA⳧䁨㲹ゐ㵦䊻䐱⺛713163844485157Buildingabusinessisnotjustaquestionoftechnologyorfinancialresources,ofmachinesorinvestment.Itisfirstandforemostaquestionofpeople,culture,abilityandcommitmentandthemindsetofseeingthefutureasagreatopportunityforall.Activeforoveracentury,theGrouphastransformeditsvocationforautomobilesintoastrongcommitmenttoallformsofmobilityforpeopleandgoods:fromcarstotrucks,agriculturaltractorsandmarineengines.Inrecentyears,theGrouphasundergoneaprofoundculturalchangewhichpermeateseveryaspectoftheorganisation.Andtoday,FiatisnotonlythelargestindustrialbusinessinItalyandamajorinternationalGroup,itisanenterprisewhichhastakenitsfuturebackintoitsownhands.ThiscourageanddesiretochangehaveenabledtheGrouptoachieveremarkableresults.Thenumerousawardsandrecognitionsreceivedareacknowledgementofthoseresults.ButthegreatestrecognitioniseverytimeacustomerplaceshistrustinFiatbybuyingoneofourcars,trucksortractors.AndtodaytheGroupispreparedtoplayamajorroleintherestructuringoftheautoindustry.AnexampleofthatroleisFiat’sglobalstrategicalliancewithChrysler.FiathasbecomeashareholderoftheUSgroupandwillcontributeitsworld-classtechnology,platformsandpowertrainsforsmallandmedium-sizedcarstoChrysler.Asaresultofthealliance,theGroupwillalsohaveaplatformtoonceagainsellitscarsintheUnitedStates.AndFiat’srecentlyannounced2010-2014Plansetsacourseofsignificantgrowth.Today,theGroupisacombinationoftwodifferentbusinesses:ononeside,theautomobilesandrelatedcomponentsbusinessesand,ontheother,thetruckandagricultural&constructionequipmentbusinesses.Thesetwogroupsofactivitiesarevastlydifferentfromeachotherintermsoftheirrespectiveeconomiccycles,profitmarginsandcapitalrequirements,aswellasthecharacteristicsoftheircustomersandmarkets.Andeventhestockmarkethasalwaysvaluedthemdifferently.Forthisreason,ourPlanalsocallsforademergerofIvecoandCNH,alongwiththeIndustrial&MarinebusinessofFPTPowertrainTechnologies,fromtheautomobile-relatedactivities,whichincludeFiatGroupAutomobiles,FerrariandMaserati,MagnetiMarelli,Teksid,ComauandthePassenger&CommercialVehiclesbusinessofFPTPowertrainTechnologies.Thisdemergerisexpectedtobecompletedbytheendof2010.ANEWFIATPLANNINGTHEFUTUREPEOPLECULTUREABILITYCOMMITMENT“MYINTERESTISINTHEFUTUREBECAUSEIAMGOINGTOSPENDTHERESTOFMYLIFETHERE.”AlbertEinstein7䄜㡔䄖⭥⪕㑃㪇ゑ⭥⤜㆗㬨ゝ㭖、䓫㆑㎕䊕、〛㡘〓㵗䓫㸫㳃。䔏㸋䐹䄋⭥㸫㳃㬨㦬⤦、㸥⿐,㚽㑇⼮⧱㝖,䄵ゑ㬴㸕㎕㸋〛䈗䐏䊕⭥㏎㛏。㈎⺞䄜ⱁ㬡ギ⭥〞れ㲞㰘,⳧䁨㲹ゐ㵦䄲ㅌ㡅㡜⧖䐧䋍㩭⭥䐑䋑䓋⢅㸋⧱㝖㸋㦬ゑ〖㹐⭥㒘Ⱀ㳂⹊ⷘ䐷䊬㭅Ⳟ㬞:⪴㡜⧖⭞㋉⧖,⪴㝊䇤㵰㎎〛⭞⪍䇤ⳃⰐ〛⭩䐻ⱁ㒍䈓。㆝㛋㎕,ゐ㵦䄲㈎㆙㾱㑬㪏㋭⭥㸥⿐⢅ⷐ,㪇ゑ䔊䐐〛⹚⭥ⷘⳞ㘇。㆒㳍,⳧䁨㲹⤜㆗㬨䅃⫔㏜䔏⫔⭥⹅䄖㡔䄖ゑ䑘䄋⭥⺛カ㾵ゐ㵦,㵍㬒䄓㬨䄜コ㚽ㅌ㡔䄖㸕㎕⭥㘝䊬䍧㸶䊻䓵゛㬷䐱⭥㡔䄖。⢅ⷐ⭥䇣㡙䈌䊙㶜㬚ゐ㵦〒⭤㆒㳍⭥⿵⧪㈮,ⱙ㸿㭞⭥ㅒ㼏䈌䊿䈟㈮㬨ⰵ㸳㗨㰚㦂⭤⧪㈮⭥䔏⼤㦰㋪。⭌䔏⼤⭥䊿䈟㬨㗠⪯㋮⿈⨅㕛㾦㾥⹛㕓⳧䁨㲹⭥㡜⧖、㋉⧖ゑ㵰㎎〛。㆒㳍,ゐ㵦䄲䓝⡙⼤䊻㡜⧖⥛䄖⭥䐹ㅉ䐱⨅⭒䑘䄋ㅨ㩌,㡅䐱䄜䐹䄋㈺⫌㈮㬨⳧䁨㲹䈌㋬㎔㯚㎶ㆂ⧪㦌㤓䍞㔵㑋㗬。⳧䁨㲹䄲㈎⧪㸋䎃コ㗡⺛㡔䄖ゐ㵦⭥Ⰼ,ㅌ㼓㋬㎔㯚㎶㳂⹊㾂㾮ゑ䐱㾮㡜⧖⭥㬡ㆈ㒍㻩ゝ㭖、㪛⥛㠞㲉䄵ゑⰐ㑇㻖㵔。ㆉ䑛䎃䄜㑋㗬,ゐ㵦ㅌ㵍㬒䊺⪯〒⭤䊻㗡⺛㆙㾱㡜⧖㼛㬼⭥㠞㲉。⳧䁨㲹䔏㆝㿜⤝⭥2010-2014㛋⺇⿏㸋㡅⧅䊗⭥⧪⧅㪉Ⰹ㑬ⳃ䍚⭥⺍⭡。㆒㳍,⳧䁨㲹ゐ㵦⼎ⶨ㑞㌊⤜㵍⭥䄖㹒,䄜㌊㬨㡜⧖ゑ㡅㞅㲸㒄⤠ミ䄖㹒,㒎䄜㌊㬨㋉⧖、㝊䇤䈌⹅⧭〛㾖䄖㹒。㑞⫔䄖㹒䊻㡅ⷘ䓵⭥㈎イ䐽㠻、㏜㧔㔫、䓫㆑䄋㤔,䄵ゑ㡅ⷘ䓵㼁ⰵ䇇⭥㋮⿈䈌㬱⧂Ⱍㅹ㦜⤜㵍。㪖䐢䊻㠒㬱⧂㩰,ⰵ㡅ゼ䐖⭥䐖Ⳟⳉ䄓⤜㈂㼁㵍。㸋⪬,䊻㸳㗨⭥⺇⿏䐱䄋㤔ㅌ䄡㸍㋣、㋎㯚㝇⼪㎝䄵ゑ⳧䁨㲹Ⱀ㑇㋧ゝ⹌㯟㻞㻣⭥⹅䄖䈌⪍⤑䄖㹒⪴ゐ㵦㡜⧖㼁䄖㹒䐱⥑⨗㎕,㡜⧖㼁䄖㹒⟝㎉⳧䁨㲹㡜⧖ゐ㵦、ⳉ㎎㏜⼮㕋㩐㎎⭺、㕋㛚⭺•㕎㧑㏜、㲊㋬㹘、㋣㕎,䄵ゑ⳧䁨㲹Ⱀ㑇㋧ゝ⹌㯟㻞㻣⭥⧬䇤䈌㩭㹒⧖䄖㹒。⥑䊅㠻䇻2010㛋㚊㶋⧪。㦬⤦㸥⿐㚽㑇⧱㝖㾣⳧䁨㲹ゐ㵦⺇⿏㸕㎕᱑㸳䐜ⰵ㸕㎕ⶱ㾬㦅᷍䅓㸋㸳ㅌ䊻㚨Ⱙ⺞㸳⭥䈁㪛᱄᱒➃ⱜ⤏㲹➏䅓㯚㲚8PLANNINGWTHEFUTUREFIATGROUPCURRENTSTRUCTUREOFTHEGROUP⭒㣑ゐ㵦ソ⹚THEPROPOSEDDEMERGERゐ㵦⥑ソ⹚OUTLOOKFOR2011䍚㶜2011㛋ThecapitalstructureofFiatIndustrial(FI),thecompanyformedbythedemerger,willmirrorFiatS.p.A.’scurrentstructurewithordinary,preferenceandsavingssharesthatwillbelistedontheMilanstockexchangesimultaneouslywithc