Italian design firm and contract vehicle assembler Pininfarina reportedly has turned in a net loss of EUR8.1m ($US9.72m) in 2005, or 238% more than its 2004 loss of EUR2.4m as it ceased production of some models.
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According to Reuters, Pininfarina said its production value in 2005 – which includes net revenues and the impact of stocks – was EUR383m, down from EUR557.8m at 31 December, 2004.
The company, which has worked on Alfa Romeo and Ferrari models and created this year’s Turin Winter Olympics torch, said in 2006 its production value should jump to more than EUR700m, according to the report.
“Between September 2005 and July 2006 the company is working on the launch of five new models … with an inevitable impact on revenues and financial flows,” it said in a statement cited by Reuters.
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