{"id":78143,"date":"2023-11-01T03:42:00","date_gmt":"2023-11-01T06:42:00","guid":{"rendered":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2023-third-quarter-results\/"},"modified":"2023-11-01T03:42:00","modified_gmt":"2023-11-01T06:42:00","slug":"iveco-group-2023-third-quarter-results","status":"publish","type":"post","link":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2023-third-quarter-results\/","title":{"rendered":"Iveco Group 2023 Third Quarter Results"},"content":{"rendered":"<p><b>Iveco Group N.V.<\/b><\/p>\n<p align=\"justify\">The following is an extract from the Iveco Group 2023 Third Quarter Results press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0DRje1dLPpxf3ICglwNfQN012az2Ig3HvAwrPgpWZWZ0u_ZMloNj8xHJsO4mlCUu3i2Vwq1A6Mjiy5oFPHRQatezbwsSN5vY49uUYoxGx4eFJyZRHQQJCj3jMw3GX8RjMA5o_r0fgjwFeUURMeEP0apgaBhlUi540RhSifgh3EVoct83fD8WdN-eQeYnE__3\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.ivecogroup.com\/media\/corporate_press_releases<\/a> or consulting the accompanying PDF:<\/p>\n<p align=\"center\"><strong>Iveco Group consolidated revenues of 3.8 billion (up 7% year-on-year).<\/strong><\/p>\n<p align=\"center\"><strong>Adjusted EBIT of 213\u00a0million (up 112 million) and adjusted net income of 84 million.<\/strong><\/p>\n<p align=\"center\"><strong>Net cash of Industrial Activities at 725\u00a0million. <\/strong><\/p>\n<p align=\"center\"><strong>Full year 2023 financial guidance increased.<\/strong><\/p>\n<p align=\"center\"><strong>The Company announces its Capital Markets Day to be held 14<\/strong><sup><strong>th<\/strong><\/sup><strong> March 2024.<\/strong><\/p>\n<p align=\"justify\"><strong>Consolidated revenues<\/strong> of <strong>3,757 million<\/strong>, up 6.7%.<strong> Net revenues of Industrial Activities<\/strong> of <strong>3,671 million<\/strong>, up 5.8%, mainly due to positive price realisation and better mix.<\/p>\n<p align=\"justify\"><strong>Adjusted EBIT <\/strong>of <strong>213<\/strong> <strong>million<\/strong> (112\u00a0million increase compared to Q3 2022), with a <strong>5.7%<\/strong> <strong>margin <\/strong>(up 280 bps compared to Q3 2022). <strong>Adjusted EBIT of Industrial Activities<\/strong> of <strong>180<\/strong>\u00a0<strong>million<\/strong> (64\u00a0million in Q3 2022) and <strong>margin<\/strong> at <strong>4.9%<\/strong> (up 310 bps compared to Q3 2022), reflecting a strong price realisation in the quarter.<\/p>\n<p align=\"justify\"><strong>Adjusted net income<\/strong> of <strong>84 million<\/strong> (54\u00a0million increase compared to Q3 2022). <strong>Adjusted diluted earnings per share<\/strong> of <strong>0.28 <\/strong>(up 0.18 compared to Q3 2022).<\/p>\n<p align=\"justify\"><strong>Financial expenses<\/strong> of <strong><\/strong><strong>97<\/strong><strong> million<\/strong> (65 million in Q3 2022), increasing mainly as a consequence of higher interest rates and the impact of hyperinflation accounting primarily in Argentina.<\/p>\n<p align=\"justify\">Reported income tax expense of 15 million, with <strong>adjusted effective tax rate<\/strong> (adjusted ETR) of <strong>28%<\/strong> reflecting different tax rates applied in the jurisdictions where the Group operates and some other discrete items. <\/p>\n<p align=\"justify\"><strong>Net cash of Industrial Activities<\/strong> at <strong>725<\/strong>\u00a0<strong>million <\/strong>(1,727 million at 31<sup>st<\/sup>\u00a0December 2022). <strong>Free cash flow of Industrial Activities<\/strong> <strong>negative <\/strong>for<strong> 375<\/strong>\u00a0<strong>million <\/strong>(negative for 232\u00a0million in Q3 2022) primarily due to higher working capital absorption partially offset by positive price realisation.<\/p>\n<p align=\"justify\"><strong>Available liquidity<\/strong> at <strong>3,506 million<\/strong> as of 30<sup>th<\/sup> September 2023, down 258\u00a0million from 30<sup>th<\/sup> June 2023, including 2,000 million of undrawn committed facilities. <\/p>\n<p \/>\n<p id=\"gnw_attachments_section-header\">\n <strong>Attachment<\/strong>\n<\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n  <a target=\"_blank\" href=\"https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/204ead07-98f4-4aec-9001-180557269320\" rel=\"noopener\">20231101_PR_IVG_Q3_2023<\/a>\n<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDg5NzAyMiM0MDE2NzA4NjEjMjIzMzE2OA==\" \/> <br \/><img decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/YzljMmFmNWItMTAwYi00YmUxLTljYTAtMWJlZjc2MmQ3YWE3LTEyNDQ3MjE=\/tiny\/Iveco-Group-N-V-.png\" \/><br \/>\n<a href=\"https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/8f75a0f4-8d45-49e9-856c-3abc38b80e4c\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/8f75a0f4-8d45-49e9-856c-3abc38b80e4c\/small\/aw-horizontal-coolgray10c-newblu-rgb-png.png\" border=\"0\" width=\"150\" height=\"25\" alt=\"Primary Logo\" \/><\/a><\/p>\n<p>A <b>OESP<\/b> nao e(sao) responsavel(is) por erros, incorrecoes, atrasos ou quaisquer decisoes tomadas por seus clientes com base nos Conteudos ora disponibilizados, bem como tais Conteudos nao representam a opiniao da <b>OESP<\/b> e sao de inteira responsabilidade da <b>GlobeNewswire<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"Iveco Group N.V. The following is an extract from the Iveco Group 2023 Third Quarter Results press release. The complete press release can be accessed by visiting the media section of the Iveco Group","protected":false},"author":1,"featured_media":78144,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-78143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-releases-geral"],"acf":[],"_links":{"self":[{"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/posts\/78143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/comments?post=78143"}],"version-history":[{"count":0,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/posts\/78143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/media\/78144"}],"wp:attachment":[{"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/media?parent=78143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/categories?post=78143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/wp-json\/wp\/v2\/tags?post=78143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}