A quarter of new product introductions. Full year guidance confirmed<\/strong><\/p>\n Consolidated revenues<\/strong> amounted to 3,446 million<\/strong> compared to 3,710 million in Q3 2023. Net<\/strong>\u00a0revenues of Industrial Activities<\/strong> were 3,355<\/strong>\u00a0million<\/strong> compared to 3,623 million in Q3 2023, with positive price realisation partially offsetting lower volumes in Truck and Powertrain.<\/p>\n Adjusted EBIT <\/strong>was 206<\/strong> million<\/strong> (224\u00a0million in Q3 2023) with a 6.0<\/strong>%<\/strong> margin <\/strong>(in line with Q3 2023). Adjusted EBIT of Industrial Activities<\/strong> was 167<\/strong>\u00a0million<\/strong> compared to 191\u00a0million in Q3 2023, with positive price realisation partially offsetting lower volumes. Adjusted EBIT margin of Industrial Activities<\/strong> was 5.0%<\/strong> (5.3% in Q3 2023), with margin improvements in Bus and Defence.<\/p>\n Adjusted net income<\/strong> was 106 million<\/strong>, an increase of 10\u00a0million compared to Q3 2023. Adjusted diluted earnings per share<\/strong> was 0.39<\/strong>, up 0.07 compared to Q3 2023.<\/p>\n Financial expenses<\/strong> amounted to 61 million<\/strong> 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.<\/p>\n Reported income tax expense was 38 million, with an adjusted Effective Tax Rate<\/strong> (adjusted ETR) of 27<\/strong>%<\/strong> in Q3 2024. The adjusted ETR reflects the different tax rates applied in the jurisdictions where the Group operates and some other discrete items. <\/p>\n Free cash flow of Industrial Activities<\/strong> was negative <\/strong>at 286<\/strong>\u00a0million<\/strong>, 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.<\/p>\n Available liquidity<\/strong> was 4,376 million<\/strong> as of 30th<\/sup> September 2024, up 199\u00a0million from 30th<\/sup> June 2024, including 1,900 million of undrawn committed facilities.<\/p>\n (*) 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.<\/p>\n \n Attachment<\/strong>\n<\/p>\n
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