Turin, 26th April 2022

Iveco Group 2022 First Quarter Results

Iveco Group consolidated revenues of €3.0 billion (up 2% year on year).
Adjusted net income of €42 million and adjusted EBIT of €102 million.
Free cash flow of Industrial Activities negative €166 million, €137 million better than Q1 2021.

«In the first quarter of our first year as an independent Company, I am pleased to report solid performance – mainly in light commercial vehicles and buses – despite the continuous supply chain issues and raw material price increases. In particular, I would like to praise the entire Iveco Group team for the highly conscientious management of our cash: the seasonal free cash flow absorption from industrial activities was €166 million, €137 million better than the first quarter of last year, and our available liquidity remains healthy at €3.4 billion. As we approach the second quarter, when we foresee the most severe impacts from component shortages for the entire year, we will continue to maintain tight control on working capital and cash flow. The current challenging environment is further firing up our resilience and determination to deliver throughout 2022 and beyond.»

Gerrit Marx, Chief Executive Officer

2022 First Quarter Results(1)(2)

(all amounts € million, unless otherwise stated – comparison vs Q1 2021)



Consolidated revenues
of which Net revenues of Industrial Activities


+1.7% +1.5%

Adjusted EBIT
of which Adjusted EBIT of Industrial Activities




Net loss



Adjusted net income



Diluted EPS €



Adjusted diluted EPS €



Cash flow from operating activities



Free cash flow of Industrial Activities



Cash and cash equivalents




Available liquidity




(*)comparison vs 31st December 2021

(1) Iveco Group reports quarterly and annual consolidated financial results under EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with EU-IFRS.

(2) On 1 January 2022 the demerger of CNH Industrial N.V. took legal effect. The 2021 figures presented in this press release relate to activities transferred to Iveco Group N.V. and are derived from CNH Industrial consolidated financial statements for the first quarter of 2021 and for the year ended 31 December 2021.

(3)Non-IFRS financial measures: refer to the “Non-IFRS Financial Information” section of this press release for information regarding non-IFRS financial measures. Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-IFRS financial measure and the most comparable IFRS financial measure.