Fiat 2012 net debt 6.54 bln euros, Q4 trading profit 987 mln euros

Wed Jan 30, 2013 8:31am EST
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MILAN Jan 30 (Reuters) - Italian automaker Fiat said on Wednesday its closely-watched net debt rose about 18 percent to 6.54 billion euros ($8.81 billion) at the end of 2012, against a forecast of 6.6 billion euros and hitting its own target.

It said fourth-quarter trading profit was 987 million euros, a bit lower than the 1 billion euros expected by analysts.

In Europe, its mass market brands posted a loss before interest and tax of 165 million euros in the fourth quarter, down from 289 million euros in the fourth quarter of 2011.

For the fourth quarter, its trading loss in Europe was 121 million euros, down from 225 million euros the year before.

Earlier on Wednesday, its U.S. unit Chrysler said its fourth-quarter net income rose 68 percent to $378 million.

After the results Fiat shares turned higher. They were up 2.3 percent at 4.79 euros at 1331 GMT.