“Iveco Group stands ready for its next phase, having kicked off the first quarter of the new 2024-28 cycle with strong results. Our consolidated adjusted EBIT grew to 233 million euros and our adjusted net income came in at 153 million euros, respectively 59 and 77 million euros more compared to the first quarter of last year. All our industrial business units – Truck, Bus, Defence and Powertrain – achieved margin improvements, resulting in a 6.1% adjusted EBIT margin of industrial activities, an increase of 170 basis points versus the first quarter of last year. The collective Iveco Group team and its distinct business units, driven by competent, passionate and unique people, are eager to further accelerate their pathways presented during our recent Capital Markets Day.”
Gerrit Marx, Chief Executive Officer
2024 First Quarter Results of Continuing Operations(1)
(all amounts € million, unless otherwise stated – comparison vs Q1 2023)
|
EU-IFRS FINANCIAL MEASURES |
NON-EU-IFRS FINANCIAL MEASURES(2) |
||||||
| Consolidated EBIT of which EBIT of Industrial Activities | 96 64 |
-24 -21 |
Adjusted EBIT of which Adjusted EBIT of Industrial Activities |
233 201 |
+59 +55 |
||
| Profit/(loss) | 22 | -1 | Adjusted net income | 153 | +77 | ||
| Diluted EPS € | 0.09 | +0.03 | Adjusted diluted EPS € | 0.57 | +0.32 | ||
| Cash flow from operating activities | (316) | +144 | Free cash flow of Industrial Activities | (436) | +110 | ||
| Cash and cash equivalents | 2,611 |
-87 |
(**) | Available liquidity |
4,685 |
-63 | (**) |
(**)comparison vs 31st December 2023
(1)Iveco Group reports quarterly and annual consolidated financial results under EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with EU-IFRS and its segments shown in this press release are prepared in accordance with EU-IFRS.
SOURCE: Iveco Group
