{"id":88104,"date":"2024-02-09T03:42:00","date_gmt":"2024-02-09T06:42:00","guid":{"rendered":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2023-full-year-and-fourth-quarter-results\/"},"modified":"2024-02-09T03:42:00","modified_gmt":"2024-02-09T06:42:00","slug":"iveco-group-2023-full-year-and-fourth-quarter-results","status":"publish","type":"post","link":"https:\/\/bluestudio.estadao.com.br\/agencia-de-comunicacao\/releases\/releases-geral\/iveco-group-2023-full-year-and-fourth-quarter-results\/","title":{"rendered":"Iveco Group 2023 Full Year and Fourth Quarter Results"},"content":{"rendered":"

Iveco Group N.V.<\/b><\/p>\n

The following is an extract from the Iveco Group 2023 Full Year and Fourth 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

Iveco Group consolidated revenues of 16 billion (up 13% year-on-year).<\/strong><\/p>\n

Adjusted EBIT of 940\u00a0million (up 413 million compared to 2022) <\/strong><\/p>\n

and adjusted net income of 352 million (up 127 million compared to 2022). <\/strong><\/p>\n

Positive free cash flow of Industrial Activities of 412\u00a0million.<\/strong><\/p>\n

Recommended annual cash dividend of 0.22 per common share.<\/strong><\/p>\n

Capital Markets Day to be held on 14<\/strong>th<\/strong><\/sup> March 2024.<\/strong><\/p>\n

Consolidated revenues<\/strong> of 16,213 million<\/strong>, up 12.9%. Net revenues of Industrial Activities<\/strong> of 15,877 million<\/strong>, up 12.1%, mainly due to positive price realisation and higher volumes and mix.<\/p>\n

Adjusted EBIT <\/strong>of 940<\/strong> million<\/strong> (413\u00a0million increase compared to 2022), with a 5.8%<\/strong> margin <\/strong>(up 210 bps compared to 2022). Adjusted EBIT of Industrial Activities<\/strong> of <\/strong>818<\/strong>\u00a0million<\/strong> (424\u00a0million in 2022) and margin<\/strong> at 5.2%<\/strong> (up 220 bps compared to 2022), with a strong price realisation throughout the year.<\/p>\n

Adjusted net income<\/strong> of 352 million<\/strong> (127\u00a0million increase compared to 2022). Adjusted diluted earnings per share<\/strong> of 1.23 <\/strong>(up\u00a00.45 compared to 2022).<\/p>\n

Financial expenses<\/strong> of <\/strong>450<\/strong> million<\/strong> (vs 206 million in 2022), increasing mainly as a consequence of higher interest rates, as well as the impact of the Argentine peso devaluation and of hyperinflationary accounting in Argentina.<\/p>\n

Reported income tax expense of 153 million, with adjusted effective tax rate<\/strong> (adjusted ETR) of 28<\/strong>%<\/strong> reflecting different tax rates applied in the jurisdictions where the Group operates and some other discrete items. <\/p>\n

Net cash of Industrial Activities<\/strong> at 1,852<\/strong>\u00a0million <\/strong>(1,727 million at 31st<\/sup>\u00a0December 2022), negatively affected by the higher than expected Argentine peso devaluation in December 2023; excluding this extraordinary devaluation, net cash of Industrial Activities was\u00a0~<\/strong>\u00a02 billion. Free cash flow of Industrial Activities<\/strong> positive <\/strong>at 412<\/strong>\u00a0million <\/strong>(vs positive at 690\u00a0million in 2022) primarily due to strong business performance, partially offset by the above mentioned currency devaluation. Investments of Industrial Activities<\/strong> up<\/strong>\u00a025%<\/strong> versus 2022.<\/p>\n

Available liquidity<\/strong> at 4,748 million<\/strong> as of 31st<\/sup> December 2023, up 384\u00a0million from 31st<\/sup> December 2022, including 2,000 million of undrawn committed facilities. <\/p>\n

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