Article content material
The next is an extract from the “Iveco Group 2024 First Quarter Outcomes” press launch(*). The whole press launch will be accessed by visiting the media part of the Iveco Group company web site: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF:
Iveco Group consolidated revenues of €3.4 billion (according to Q1 2023).
Adjusted EBIT of €233 million (up €59 million in comparison with Q1 2023)
and adjusted web revenue of €153 million (up €77 million in comparison with Q1 2023).
Damaging free money movement of Industrial Actions of €436 million (€110 million higher in comparison with Q1 2023).
Article content material
(*) 2024 monetary knowledge proven refers to Persevering with Operations solely, until in any other case acknowledged. Persevering with Operations exclude the Fireplace Preventing enterprise which, following the already introduced signing of a definitive settlement for the switch of its possession, has been labeled as Discontinued Operations. 2023 comparative figures have been recast constantly.
Consolidated revenues of €3,367 million, according to Q1 2023. Internet revenues of Industrial Actions of €3,283 million, flat vs Q1 2023, with constructive worth realisation offsetting decrease volumes primarily in South America, a unfavourable combine, and an opposed international change impression.
Adjusted EBIT of €233
million (€59 million enhance in comparison with Q1 2023) with a 6.9%
margin (up 170 bps in comparison with Q1 2023). Adjusted EBIT of Industrial Actions of €201 million (€55 million enhance vs Q1 2023) and margin at 6.1% (up 170 bps in comparison with Q1 2023), primarily due to decrease product prices and a constantly constructive worth realisation within the quarter.
Adjusted web revenue of €153 million (€77 million enhance in comparison with Q1 2023), after deducting the pre- and after-tax lack of €115 million from signing the definitive settlement to switch the Fireplace Preventing enterprise. Adjusted diluted earnings per share of €0.57 (up €0.32 in comparison with Q1 2023).
Article content material
Monetary bills of €21 million (vs €72 million in Q1 2023), lowering yr over yr primarily due to a extra contained international change price and price of hedge impression in Argentina, on account of the carried out hedging technique, in addition to to an enchancment within the Argentinian hyperinflation accounting impression.
Reported revenue tax expense of €53 million, with adjusted efficient tax price (adjusted ETR) of 28% reflecting completely different tax charges utilized within the jurisdictions the place the Group operates and another discrete objects.
Free money movement of Industrial Actions
unfavourable at €436 million (vs unfavourable €546 million in Q1 2023) according to our seasonal working capital absorption.
Accessible liquidity at €4,685 million as of 31st March 2024, down €63 million from 31st December 2023, together with €2,000 million of undrawn dedicated amenities.
Attachment
Share this text in your social community
