Iveco’s run continues also in the second quarter of the year. The truck and bus group controlled by Exor, the holding company of the Agnelli family, closed the second three months with 4.2 billion euros and consolidated revenues (up 24% compared to the same period last year) and a profit adjusted net amount of 156 million euros (96 million more). Adjusted EBIT amounted to €301 million (up by €183 million), net liquidity from industrial activities amounted to €1.2 billion (€1.7 billion at 31 December 2022).
Considering the entire first half of 2023, Iveco’s consolidated revenues are 7.6 billion euros (+18.1%), adjusted net profit is 219 million euros (117 million more) and Ebit adjusted by 463 million (243 million more)
The consequence of these results is that the prospects for the entire 2023 performance further improve. “We are even more confident that we will achieve robust results at the end of the year – comments the CEO, Gerrit Marx – As a result, we raise once again our forecasts for 2023”.
Iveco now expects an adjusted consolidated EBIT up by the end of the year, between 750 and 800 million (the previous estimate was between 600 and 640 million), with net revenues from industrial activities up from 5% to 8% (up from 3% to 5% and an adjusted EBIT up between 650 and 700 million (from between 510 and 550 million), the general, administrative and selling expenses of the industrial activities confirmed at around 6% of net revenues. % and liquidity of 2 billion.
“Since the creation of the Iveco Group 18 months ago – explains Gerrit Marx – we have worked hard as a united team to constantly improve our products and the efficiency of our processes. This effort is already yielding positive results. Our trucks and vans continue to be appreciated by the market; our Powertrain division is well on its way to expanding in terms of margins; we continue to win tenders with our bus offering; and, as per plan, we have just launched Gate, our Green & Advanced Transport Ecosystem” .
The logistic-production chain and inflation – explains the company – have remained the main challenges for the group’s activities, the effects of which have been more than compensated by the better prices. Iveco Group is on track to shorten order intake to healthier levels as it prepares for the order opening for the 2024 model year, with 27 weeks of production already sold for light commercial vehicles and 26-23 weeks for medium and heavy. For industrial vehicles, deliveries increased by 24% on a global basis, with Europe alone growing by 37% compared to the second quarter of 2022. In the first half of 2023, the consolidated revenues of the Iveco Group amounted to 7.6 billion euros ( up by 18.1% on the same period of 2022), the adjusted net profit is equal to 219 million euros (117 million more) and the adjusted ebit is 463 million euros (243 million more),