Press Release
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march 18, 2024 - Iveco
Iveco Group unveils new Strategic Plan to 2028 and “Unlimited Pathways” for its five Business Units at today’s Capital Markets Day
Iveco Group presents a new Strategic Plan, outlining objectives up to 2028 during the Company’s Capital Markets Day held today in Turin, Italy.
The decision to hold a Capital Markets Day two years after its first Investor Day in November 2021, was driven by the Group’s recent achievements: by the end of 2023, Iveco Group had already met its key targets for 2026, or was ahead of the previous trajectory.
In its prior strategic plan from 2021, Iveco Group targeted total Net Revenues of Industrial Activities at between €16.5 and €17.5 billion by 2026 and it achieved €15.9 billion by year-end 2023, proving to be fully on track. The 2026 Adjusted EBIT margin of Industrial Activities was to reach between 5 and 6% (from 3.6% in 2019) which the Company already achieved in 2023. For the Free Cash Flow from Industrial Activities, Iveco Group targeted €500 million in 2026 and already reached more than €400 million in 2023, ahead of the previous target trajectory.
These are outcomes largely attributable to the company’s focused delivery and ‘one team’ approach, which unites its global workforce of over 36,000 employees towards a common purpose.
Gerrit Marx, CEO, Iveco Group, 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 limits and courageously set out on new pathways. We have demonstrated that we can fulfil the promises we make. Today we commit ourselves to a new plan, an acceleration of our product portfolio, stronger and more diverse partnerships, and a dial up our sustainability journey. We will deliver these commitments because the pathways and opportunities in front of us and our five business units are exciting and unlimited. Moreover, while we are drawing upon possibilities internally, we will continue exploring powerful opportunities outside. We will always go beyond the obvious.”
Turin, March 14, 2024
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