The following is an excerpt from the press release “Full year and fourth quarter 2022 results of the Iveco Group”. The full press release can be obtained by visiting the media segment of the Iveco Group corporate website: https://www. ivecogroup. com /media/corporate_press_releasesou by consulting the attached PDF:
Consolidated turnover of the Iveco Group of 14,000 million euros (-13% year-on-year). Adjusted EBIT of €527 million and adjusted net income source of €225 million. Net income from Industrial Activities of 1,727 million euros, with loss of money from Industrial Activities of 690 million euros. Initiated the procedure of approval of a program of repurchase of percentages of up to 10 million percentages not unusual.
Consolidated sales of 14,357 million euros, up 13. 5%. Industrial sales of 14,165 million euros, 13. 1% more, basically due to higher volumes and positive value realization.
Adjusted EBIT of €527 million (€151 million to 2021), with a margin of 3. 7% (70 foundation issues to 2021). Adjusted EBIT from business activities of €424 million (€302 million in 2021), with positive realisation value, higher volumes and a higher mix more than offsetting higher energy costs and raw curtains.
Adjusted net income source of €225 million (increase of €85 million compared to 2021), which basically excludes a similar negative effect to our activities in Russia and Ukraine, due to the impairment of certain assets, price spin-offs, a negative effect on the first adoption of hyperinflationary accounting in Turkey, and the gain at the last level of Chinese joint venture restructuring. The adjusted net income source also excludes effects, recorded in the fourth quarter of 2022, resulting from gain on the disposal of safe constant assets in Australia, as well as the impairment loss on safe prices of R
Financial expenses of 206 million euros (115 million euros in 2021), basically due to the rise in interest rates and the effects of hyperinflation in Argentina and Turkey.
Declared source of income tax expense of €101 million, with an adjusted effective tax rate (adjusted ETR) of 30% reflecting the other tax rates implemented in the jurisdictions where the Group operates and other discrete items.
Net monetary position of Industrial Activities of €1,727 million (€1,063 million as of December 31, 2021). Positive loose money from Industrial Activities of 690 million euros (improvement of 815 million euros compared to 2021) basically due to operational functionality and current capital advance.
Available liquidity at €4,364 million as of December 31, 2022, €2,928 million more as of December 31, 2021, adding €2 billion of undrawn lines displayed.
Attached