Dow Jones reports that Italian car designer Pininfarina SpA has posted a 28.4% drop in its 2002 sales revenue. The report says that the company’s 2002 sales fell to 531.1 million euros, a 28.4% drop on the previous year’s total.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Pininfarina said its 2002 earnings before interest and tax would be around 4% of revenue, or roughly 21 million euros. In 2001, the Turin-based automotive company had EBIT of 3.4% of sales, equal to 25 million euros.
Pininfarina said it expects its 2003 revenue to jump more than 30% thanks to its expanding engineering division and a new contract with Volvo Car Corp.
