Iveco Group 2024 Third Quarter Results
07 Novembre 2024 - 7:30AM
The following is an extract from the “Iveco
Group 2024 Third 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:
A quarter of new product introductions.
Full year guidance confirmed
Consolidated revenues amounted
to €3,446 million compared to €3,710 million in Q3
2023. Net revenues of Industrial
Activities were
€3,355 million compared to
€3,623 million in Q3 2023, with positive price realisation
partially offsetting lower volumes in Truck and Powertrain.
Adjusted EBIT was
€206 million (€224 million
in Q3 2023) with a 6.0%
margin (in line with Q3 2023). Adjusted
EBIT of Industrial Activities was
€167 million compared to
€191 million in Q3 2023, with positive price realisation
partially offsetting lower volumes. Adjusted EBIT margin of
Industrial Activities was 5.0% (5.3% in
Q3 2023), with margin improvements in Bus and Defence.
Adjusted net income was
€106 million, an increase of €10 million
compared to Q3 2023. Adjusted diluted earnings per
share was €0.39, up €0.07 compared to Q3
2023.
Financial expenses amounted to
€61 million compared to €96 million in Q3 2023, a
better performance year-on-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 was €38 million,
with an adjusted Effective Tax Rate (adjusted ETR)
of 27% in Q3 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 was negative at
€286 million, a €56 million
improvement compared to Q3 2023 resulting from lower working
capital absorption and also driven by the partial recovery of the
Q2 one-off impact related to Model Year 2024.
Available liquidity was
€4,376 million as of 30th September 2024, up
€199 million from 30th June 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 Ott 2024 a Nov 2024
Grafico Azioni Iveco Group NV (BIT:IVG)
Storico
Da Nov 2023 a Nov 2024
