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Filed under: Europe, Earnings/Financials, Design/Style

Italian design house Pininfarina predicted last May that it would face an operating loss for 2012 but still come out with a net profit. Both predictions have come true - the company is reporting an operating loss of 8.2 million euros and a net profit of 32.9 million euros ($42.5 million US).

According to Reuters, the good news came because of a debt restructuring arranged last year that gives the company three more years to repay its $182.6 million in debt, and a one-time gain of roughly 45 million euros ($57.6 million US). It is the company's first profit since 2004, and is a more robust sign of forward progress than the retrospective museum exhibits held in the company's honor last year. Perhaps the company's better financial condition will help it pull the trigger on a limited production run of the Sergio barchetta concept (shown above) as rumored.Pininfarina in the black for first time since 2004 originally appeared on Autoblog on Tue, 26 Mar 2013 10:59:00 EST. Please see our terms for use of feeds.

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