TURIN – Beyond 5.5 billion in investments from 2024 to 2028 on the innovation and artificial intelligence front, a new collaboration with the Ford Trucksthe brand of Ford Otason GroupFord’s Turkish joint venture, for heavy commercial vehiclesWhile the partnership with Hyundai is extended and strengthened in solutions for electric heavy commercial vehicles. Ivecoa company that produces commercial vehicles, heavy vehicles and defense vehicles, presents to Capital Markets Day a Torino the new strategic plan to 2028 and data from its five Business Units: Truck, Bus, Defense, Powertrain and Financial Services. And the stock market toasts: in a negative session the stock soars in the wake of the new strategic plan, rising by 11.44%, exceeding 13 euros per share for the first time.
In Turin a day with analysts to present numbers, plans and objectives after the decision to sell Magirus to the German private equity holding Mutares. This step should be completed by January 2025. The activity of the company led byto CEO Gerrit Marx: energy transition, artificial intelligence and software defined vehicles, autonomous driving. The decision to hold a Capital Markets Day two years after the first Investor Day in November 2021 is motivated by recent results: at the end of 2023 Iveco had already achieved the objectives set for the 2026, or was ahead of the trajectory for achieving them.
Iveco sells Magirus to German fund Mutares
by Diego Longhin
The strategic plan
In the 2021 strategic plan Iveco had forecast total net revenues from Industrial Activities of between 16.5 and 17.5 billion by 2026 and reached 15.9 billion at the end of 2023, “demonstrating to be fully in line with the objectives – yes law – the adjusted Ebit of Industrial activities for 2026 was expected between 5 and 6% (it was 3.6% in 2019), a result that the company has already achieved in 2023. For the Free cash flow from Industrial Activities, Iveco had forecast 500 million euros in 2026 and has already totaled more than 400 million euros in 2023, ahead of the trajectory it had taken as its objective”. Now the group, participated by Exor which also controls Republic through Gedi, he decided to raise the bar. “The key objectives of industrial activities to 2028 – explains a company note – they forecast net revenues of around 19 billion euros, adjusted Ebit margin between 7 and 8%, free cash flow of around 0.9 billion. At a consolidated level: adjusted net income equal to approximately 0.9 billion and adjusted diluted EPS exceeding 3 euros per share”.
The world of transport in Milan: 425 exhibitors from 22 countries for Transpotec Logitec and Next Mobility Exhibition
by Jessica Muller Castagliuolo
On the industrial front Iveco and Ford Trucks, the Ford Otosan brand, announce a memorandum of understanding non-binding to explore a collaboration in the joint development of a cabin structure for heavy commercial vehicles compliant with the new regulations that will come into force in 2028/2029. This is a preliminary step in the joint development of new products and technologies, extended to internal cabin components and systems.
Iveco, 1 billion to create the new range of “green” vehicles
by our correspondent Diego Longhin
Go beyond the obvious
Marx, CEO of Iveco, said: “The first of our values states that “we go beyond the obvious”. It embodies the soul of our group and clearly reflects our ambition to consciously push the boundaries and courageously embark on new paths. We have shown that we can keep the promises we make. Today we are committed with a new plan to an acceleration of our product portfolio, stronger and more diversified partnerships and a greater determination to pursue sustainability. We will deliver on these commitments because the paths and opportunities ahead of us and our five business units are exciting and limitless. Furthermore, as we leverage the possibilities that exist internally, we will continue to explore high-value opportunities externally. We will always go beyond the obvious.”
Still from an industrial perspective, Iveco extends e deepens the partnership with Hyundai in the sector of solutions for electric heavy commercial vehicles, both battery and fuel cell, for the European markets. By leveraging each partner’s technologies and assets, the two companies “expect to accelerate the transition to a sustainable future.”
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– 2024-03-15 13:29:09
