Iveco Group consolidated revenues of 3.9 billion (4.1 billion in Q2 2023) <\/strong> Consolidated revenues<\/strong> of 3,919 million<\/strong>, down 5.0% vs Q2 2023. Net revenues of Industrial Activities<\/strong> of 3,819 million<\/strong>, down 5.8%, due to lower volumes mainly in Europe, negative mix and an adverse foreign exchange impact compared to the same period last year, partially offset by a positive price realisation.<\/p>\n Adjusted EBIT <\/strong>of 295<\/strong> million<\/strong> (16\u00a0million decrease compared to Q2 2023) with a 7.5%<\/strong> margin <\/strong>(in line with Q2 2023). Adjusted EBIT of Industrial Activities<\/strong> of 264<\/strong>\u00a0million<\/strong> (12\u00a0million decrease vs Q2 2023) and margin<\/strong> at 6.9%<\/strong> (up 10 bps compared to Q2\u00a02023), due to a continuously positive price realisation offset mainly by lower volumes and an adverse foreign exchange impact. <\/p>\n Adjusted net income<\/strong> of 182 million<\/strong> (15\u00a0million increase compared to Q2 2023). Adjusted diluted earnings per share<\/strong> of 0.63 <\/strong>(up 0.02 compared to Q2 2023).<\/p>\n Financial expenses<\/strong> of 49 million<\/strong> (vs 82 million in Q2 2023), decreasing year over 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 of 63 million, with an adjusted Effective Tax Rate<\/strong> (adjusted ETR) of 26<\/strong>%<\/strong> in Q2 2024 (27%<\/strong> in H1\u00a0 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> negative <\/strong>at 98<\/strong>\u00a0million <\/strong>(vs positive 135\u00a0million in Q2 2023) primarily due to a temporary one-off adverse impact linked to extra effort to secure quality and readiness of the launch of Model Year 2024.<\/p>\n Available liquidity<\/strong> at 4,177 million<\/strong> as of 30th<\/sup> June 2024, down 508\u00a0million from 31st<\/sup> March 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
and adjusted EBIT of 295\u00a0million (311 million in Q2 2023) with an<\/strong>
adjusted EBIT margin of 7.5% (in line with Q2 2023). <\/strong>
Adjusted net income of 182\u00a0million (up 15 million compared to Q2 2023)<\/strong>
and adjusted diluted earnings per share of 0.63 (up 0.02).<\/strong>
Negative free cash flow of Industrial Activities of 98\u00a0million.<\/strong><\/p>\n
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