{"id":111347,"date":"2025-05-15T02:42:00","date_gmt":"2025-05-15T05:42:00","guid":{"rendered":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2025-first-quarter-results\/"},"modified":"2025-05-15T02:42:00","modified_gmt":"2025-05-15T05:42:00","slug":"iveco-group-2025-first-quarter-results","status":"publish","type":"post","link":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2025-first-quarter-results\/","title":{"rendered":"Iveco Group 2025 First Quarter Results"},"content":{"rendered":"

The following is an extract from the Iveco Group 2025 First 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<\/a> or consulting the accompanying PDF:<\/p>\n

The Company responded decisively to market downturn and laid strong foundations<\/strong>
for future growth. Full year guidance confirmed in its entirety<\/strong><\/p>\n

The Board has decided to proceed with the separation of the Defence business via a spin-off<\/strong>
while exploring preliminary expressions of interest from potential strategic buyers<\/strong><\/p>\n

Consolidated revenues<\/strong> amounted to 3,026 million<\/strong> compared to 3,367 million in Q1 2024. Net<\/strong>\u00a0revenues of Industrial Activities<\/strong> were 2,958<\/strong>\u00a0million<\/strong> compared to 3,283 million in Q1 2024, with positive price realisation partially offsetting lower volumes in Truck and Powertrain and an adverse foreign exchange rate impact.<\/p>\n

Adjusted EBIT <\/strong>was 152<\/strong> million<\/strong> compared to 233\u00a0million in Q1 2024 with a 5.0<\/strong>%<\/strong> margin <\/strong>(6.9% in Q1 2024). Adjusted EBIT of Industrial Activities<\/strong> was <\/strong>117<\/strong>\u00a0million<\/strong> (201\u00a0million in Q1 2024), with positive price realisation and cost containment actions in selling, general and administrative costs (SG&A) partially offsetting lower volumes and mix. Adjusted EBIT margin of Industrial Activities<\/strong> was 4.0%<\/strong> (6.1% in Q1 2024), with margin improvements in Bus and Defence.<\/p>\n

Adjusted net income<\/strong> was 84 million<\/strong> (153\u00a0million Q1 2024) with adjusted diluted earnings per share<\/strong> of 0.31 <\/strong>(0.57 in Q1 2024). <\/p>\n

Net financial expenses<\/strong> amounted to <\/strong>39<\/strong> million<\/strong> compared to 21 million in Q1 2024, which included a positive impact of the Argentinian hyperinflation accounting; starting from 1st<\/sup> January 2025, following the change of the functional currency of one of our local subsidiaries from the Argentine peso to the U.S. dollar, hyperinflation accounting is no longer applicable in Argentina.<\/p>\n

Reported income tax expense was 12 million, with an adjusted Effective Tax Rate<\/strong> (adjusted ETR) of 26<\/strong>%<\/strong> in Q1 2025 which 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 794<\/strong>\u00a0million<\/strong> (vs negative 436 million in Q1 2024) mainly driven by higher working capital absorption due to lower sales and production level for Truck and Powertrain.\u00a0\u00a0 <\/p>\n

Available liquidity<\/strong> was 4,709 million<\/strong> as of 31st<\/sup> March 2025 (5,474\u00a0million at 31st<\/sup> December 2024), including 1,900\u00a0million of undrawn committed facilities.<\/p>\n

\n Attachment<\/strong>\n<\/p>\n