Iveco Group 2023 Second Quarter Results
Iveco Group consolidated revenues of €4.2 billion (up 24% year-on-year).
Adjusted EBIT of €301 million (up €183 million) and adjusted net income of €156 million.
Net cash of Industrial Activities at €1.2 billion.
Full year 2023 Financial Guidance updated upwards again.
“Since the creation of Iveco Group 18 months ago, we have worked hard as a united team on constantly improving our products and the efficiency of our processes. This effort is already yielding returns, enabling us to deliver another quarter with steady progress on every metric, despite persisting challenges on components availability and raw material costs. Our trucks and vans continue to be appreciated by the market; our powertrain division is well on track in its margin expansion; we continue to win tenders with our bus offering; and, as per our plan, we have just launched GATE, our Green & Advanced Transport Ecosystem. All of this builds confidence that we will achieve robust full year results and, as such, we are once again lifting our guidance for 2023.”
Gerrit Marx, Chief Executive Officer
2023 Second Quarter Results(1)
(all amounts € million, unless otherwise stated – comparison vs Q2 2022)
|
EU-IFRS FINANCIAL MEASURES |
NON IFRS FINANCIAL MEASURES(2) |
||||||
|
Consolidated EBIT |
294 |
+201 |
Adjusted EBIT |
301 |
+183 |
||
|
Profit/(loss) for the period |
150 |
+114 |
Adjusted net income |
156 |
+96 |
||
|
Diluted EPS € |
0.55 |
+0.44 |
Adjusted diluted EPS € |
0.57 |
+0.37 |
||
|
Cash flow from operating activities |
402 |
+289 |
Free cash flow of Industrial Activities |
131 |
+242 |
||
|
Cash and cash equivalents |
1,701(**) |
-178 |
(*) |
Available liquidity |
3,764 |
-216 |
(*) |
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) Non EU-IFRS financial measures: refer to the “Non EU-IFRS Financial Information” section of this press release for information regarding non EU-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 EU-IFRS financial measure and the most comparable IFRS financial measure.
