Iveco Group closed 2023 with consolidated revenues of 16 billion euros (up 13% year on year).
The adjusted EBIT is equal to 940 million euros, up by 413 million euros compared to 2022 and the adjusted net profit is 352 million euros, 127 million more than 2022).
The free cash flow from industrial activities is positive for 412 million euros.
The board of directors will propose to shareholders the payment of an annual dividend of 0.22 euros per ordinary share.
The board of directors will propose to the shareholders' meeting, called for 17 April, the authorization to repurchase up to 10 million ordinary shares for a total amount of up to 130 million euros.
The program will replace the existing one (which is scheduled to expire in October 2024) and will be financed by the group's liquidity;
it will have a duration of 18 months starting from the approval of the shareholders "In our 'Year 2' as an independent listed group, that of transformation - underlines the CEO of Iveco Group, Gerrit Marx - our turnover has exceeded 16 billion euros, supported by solid pricing and positive volumes and mix. We expect the diverse set of our businesses to offset the challenging industry environment expected in 2024, delivering EBIT and cash flow results at a level comparable to that of 2023."
Iveco Group will provide indications on the strategy of each of the Business Units, currently grouped in Commercial and Specialty Vehicles, and on the financial objectives for the coming years at the Capital Markets Day on 14 March. Iveco Group expects to close 2024 with a consolidated adjusted EBIT between 900 and 950 million euros, net revenues from industrial activities down by approximately 5% compared to 2023, adjusted ebit of industrial activities between 770 and 820 million euros, free cash flow from industrial activities between 350 and 400 million euros, investments from industrial activities equal to 1 billion euros.
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