Iveco Group 2024 Second Quarter Results
24 Luglio 2024 - 7:30AM
The following is an extract from the “Iveco
Group 2024 Second Quarter Results” press release(*). The complete
press release can be accessed by visiting the media section of the
Iveco Group corporate website:
https://www.ivecogroup.com/media/corporate_press_releases or
consulting the accompanying PDF:
Iveco Group consolidated revenues of €3.9
billion (€4.1 billion in Q2 2023) and adjusted
EBIT of €295 million (€311 million in Q2 2023) with
anadjusted EBIT margin of 7.5% (in line with Q2
2023). Adjusted net income of €182 million
(up €15 million compared to Q2 2023)and adjusted
diluted earnings per share of €0.63 (up
€0.02).Negative free cash flow of Industrial
Activities of €98 million.
Consolidated revenues of
€3,919 million, down 5.0% vs Q2 2023. Net
revenues of Industrial Activities of €3,819
million, down 5.8%, due to lower volumes mainly in Europe,
negative mix and an adverse foreign exchange impact compared to the
same period last year, partially offset by a positive price
realisation.
Adjusted EBIT of
€295 million (€16 million
decrease compared to Q2 2023) with a 7.5%
margin (in line with Q2 2023). Adjusted
EBIT of Industrial Activities of
€264 million
(€12 million decrease vs Q2 2023) and margin
at 6.9% (up 10 bps compared to Q2 2023), due
to a continuously positive price realisation offset mainly by lower
volumes and an adverse foreign exchange impact.
Adjusted net income of
€182 million (€15 million increase compared
to Q2 2023). Adjusted diluted earnings per share
of €0.63 (up €0.02 compared to Q2 2023).
Financial expenses of
€49 million (vs €82 million in Q2 2023),
decreasing year over year mainly due to a more contained cost of
hedge impact in Argentina, resulting from the implemented hedging
strategy, and an improvement in the Argentinian hyperinflation
accounting impact.
Reported income tax expense of €63 million, with
an adjusted Effective Tax Rate (adjusted ETR) of
26% in Q2 2024
(27% in H1 2024). The adjusted ETR reflects
the different tax rates applied in the jurisdictions where the
Group operates and some other discrete items.
Free cash flow of Industrial
Activities negative at
€98 million (vs positive
€135 million in Q2 2023) primarily due to a temporary one-off
adverse impact linked to extra effort to secure quality and
readiness of the launch of Model Year 2024.
Available liquidity at
€4,177 million as of 30th June 2024, down
€508 million from 31st March 2024, including €1,900 million of
undrawn committed facilities.
(*) 2024 financial data shown refers to
Continuing Operations only, unless otherwise stated. Continuing
Operations exclude the Fire Fighting business which, following the
already announced signing of a definitive agreement for the
transfer of its ownership, has been classified as Discontinued
Operations. 2023 comparative figures have been recast
consistently.
Grafico Azioni Iveco Group NV (BIT:IVG)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Iveco Group NV (BIT:IVG)
Storico
Da Dic 2023 a Dic 2024
