Adjusted net profit €569 million (more than €181 million compared to 2023) after having excluded the €394 million in reported net profit, basically the loss of €145 million in motion from the stackstack fighting company, €96 million in engine cruising prices and a tax merit of €94 million due to the popularity of deferred tax assets in German jurisdiction. Diluted profit was adjusted in line with Centimiento of €2. 09, up €0. 74 compared to 2023.
Net monetary expenses amounted to €211 million (€443 million in 2023), an improvement of €232 million compared to 2023 basically due to a more hedging charge having an effect on Argentina, as a result of the hedging strategy implemented, and an improvement in the impact of Argentine hyperinflation accounting.
Reported income tax expense was €69 million, with an adjusted Effective Tax Rate (adjusted ETR) of 26% in 2024. The adjusted ETR reflects the different tax rates applied in the jurisdictions where the Group operates and some other discrete items.
The money flows of commercial activities were positive at 402 million euros (450 million euros in 2023) due to the optimized control of production titles to adapt to reduce the call of the industry and an effective policy strategy to reduce the Exposure to Argentine exchange foreign exchanges.
(*) 2024 financial data shown refers to Continuing Operations only, unless otherwise stated. Continuing Operations exclude the Fire Fighting business which, following the signing of a definitive agreement for the transfer of its ownership, has been classified as Discontinued Operations; the transfer was completed on 3rd January 2025. 2023 comparative figures have been recast consistently.
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