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Revealed Nov 07, 2024 • 2 minute learn
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The next is an extract from the “Iveco Group 2024 Third Quarter Outcomes” press launch(*). The whole press launch may be accessed by visiting the media part of the Iveco Group company web site: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF:
1 / 4 of latest product introductions. Full yr steerage confirmed
Consolidated revenues amounted to €3,446 million in comparison with €3,710 million in Q3 2023. Web revenues of Industrial Actions have been €3,355 million in comparison with €3,623 million in Q3 2023, with constructive value realisation partially offsetting decrease volumes in Truck and Powertrain.
Commercial 2
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Adjusted EBIT was €206
million (€224 million in Q3 2023) with a 6.0%
margin (in keeping with Q3 2023). Adjusted EBIT of Industrial Actions was €167 million in comparison with €191 million in Q3 2023, with constructive value realisation partially offsetting decrease volumes. Adjusted EBIT margin of Industrial Actions was 5.0% (5.3% in Q3 2023), with margin enhancements in Bus and Defence.
Adjusted internet revenue was €106 million, a rise of €10 million in comparison with Q3 2023. Adjusted diluted earnings per share was €0.39, up €0.07 in comparison with Q3 2023.
Monetary bills amounted to €61 million in comparison with €96 million in Q3 2023, a greater efficiency year-on-year primarily as a consequence of a extra contained price of hedge affect in Argentina ensuing from the applied hedging technique, and an enchancment within the Argentinian hyperinflation accounting affect.
Reported revenue tax expense was €38 million, with an adjusted Efficient Tax Fee (adjusted ETR) of 27% in Q3 2024. The adjusted ETR displays the totally different tax charges utilized within the jurisdictions the place the Group operates and another discrete objects.
Commercial 3
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Free money circulate of Industrial Actions was unfavorable at €286 million, a €56 million enchancment in comparison with Q3 2023 ensuing from decrease working capital absorption and in addition pushed by the partial restoration of the Q2 one-off affect associated to Mannequin Yr 2024.
Obtainable liquidity was €4,376 million as of 30th September 2024, up €199 million from 30th June 2024, together with €1,900 million of undrawn dedicated amenities.
(*) 2024 monetary knowledge proven refers to Persevering with Operations solely, until in any other case said. Persevering with Operations exclude the Hearth Combating enterprise which, following the already introduced signing of a definitive settlement for the switch of its possession, has been categorized as Discontinued Operations. 2023 comparative figures have been recast constantly.
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