TORINO – The veil is lifted on the numbers and projects of Iveco Group, a company that will be born from the spin-off of Cnh Industrial on 1 January next year. The new company aims to achieve net revenues from industrial activities between 16.5 and 17.5 billion euros in 2026, a sharp increase compared to the 11.8 billion recorded in 2019, and an adjusted net profit (i.e., net of postage extraordinary) between € 0.6 and € 0.8 billion (€ 0.3 billion in 2019). Investments in industrial activities will increase over the same period by 80 basis points, from 4.2% to 5%.
The free cash flow of industrial activities is expected to be 0.5 billion euros, compared to 30 million euros in 2019. Estimates presented in the report released during the Investor Day in Turin, where the new group, which it will be listed on the Milan Stock Exchange from 3 January, will have its operational headquarters. The legal one will be in Amsterdam.
The board of directors of Iveco will be chaired by Suzanne Heywood and will be composed of 8 members, of which two executive directors and six non-executive directors. Executive directors will be Suzanne Heywood e Gerrit Marx, as Chief Executive Officer. As regards the 6 non-executive directors, four are independent: Tufan Erginbilgic, Essimari Kairisto, Olof Persson and Lorenzo Simonelli. Linda Knoll and Alessandro Nasi complete the advice.
“Today represents a milestone on the road to our future, which is a future made of a” new energy “. This new energy leads us to advanced technologies in which we will continue to be pioneers to fuel the development of our entire range of vehicles and powertrains. And, just as significantly, this new energy underpins our ambitious plans as a globally leading company in our industry and independently listed, “Marx pointed out. “With a highly motivated team and a growing ecosystem of ambitious and like-minded partners, we are ready to seize the many exciting opportunities in a rapidly evolving industry for the benefit of all we do business with,” he added.
Not only estimates and financial targets compared to the new group which is stronger in Europe and South America, in addition to Asia. In the United States and North America in general it is gaining space thanks to the partnership with Nikola. Sustainability and reduction of emissions are the other goal that Iveco wants to achieve: less 50% of CO2 emissions by 2030 in its plants, less 35% of CO2 in the vehicles sold. The benchmarks are also the goals set by all the major logistics and delivery companies in the world, customers of Iveco Group, from Amazon to UPS, via FedEx to DHL, just to name a few. On the product front, the development of the new one is planned Electric Daily in 2023 and the development of a complete range of electric buses is planned for the same year. The goals to be achieved with Nikola Corporation, between 2022 and 2023, for the development of electric and hybrid vehicles on heavy vehicles have been confirmed.
Iveco Group has also signed The Climate Pledge, a commitment jointly founded by Amazon and Global Optimism, to achieve net zero CO2 emissions by 2040, ten years ahead of the target set by the Paris Agreement.
The extraordinary shareholders’ meeting of Industrial Name on the occasion of which final approval of the demerger will be requested. Shareholders will receive one new Iveco Group share for every 5 Cnh Industrial shares held. Exor, holding company of the Agnelli family which it also controls Republic, will have 27 percent of the shares in the new company.
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