Duyuru • Jul 03
Iveco Launches Model Year 26 Truck and Van Range IVECO launched its Model Year 26 truck and van range, marking an important step in its journey to become a premium partner. IVECO Experience 2026 is an immersive platform that makes the next chapter of the IVECO brand tangible. Plenary sessions, experiential installations and interactive activities bring to life ‘Spirito in Movimento’, the ambition that defines IVECO’s renewed identity and commitment to quality, innovation and customer proximity. The three pillars of ‘Spirito in Movimento’ are Motion by Design, Motion through Experience and Motion as Family. Guests are exploring these pillars and the ecosystem around the products, discovering how vehicles, connected services, digital solutions and support networks work together to provide advanced business solutions for customers and partners. A central highlight of IVECO Experience 2026 is the world premiere of the full Model Year 26 range of trucks and vans, which embodies the brand’s evolution and its commitment to delivering greater value throughout the customer journey. Developed around extensive customer feedback, the new generation introduces significant improvements in fuel efficiency, driver comfort, connectivity and customisation, combining advanced engineering with IVECO’s distinctive Italian design. By combining the latest powertrain technologies, enhanced aerodynamics and intelligent driving features that help optimise vehicle performance on the road, the IVECO S-Way lowers the total cost of ownership for long-haul operators. Its redesigned cab offers enhanced ergonomics, comfort and onboard living for drivers. Customers also have up to 32,000 possible vehicle configurations, allowing them to tailor their vehicles to their specific business needs. The new range marks a step change in digital integration, with the vehicles offered with an enhanced ecosystem of connectivity, uptime and fleet management services. IVECO Experience 2026 also presents alternatives to ownership: the pay-per-use formulas for the green range through GATE, while diesel and gas range can be rented through RENTIVE, an all-inclusive programme provided by IVECO CAPITAL. Duyuru • May 07
Iveco Group N.V., Annual General Meeting, Jun 17, 2026 Iveco Group N.V., Annual General Meeting, Jun 17, 2026. Duyuru • Apr 26
Iveco Group N.V. Announces Changes in President, Powertrain Business Unit Iveco Group N.V. announced that Sylvain Blaise, President of the Powertrain Business Unit, will leave the Company on June 29, 2026, to take up a new position as CEO of Manitou Group. Mr. Blaise has been with the Company for 24 years, holding numerous leadership roles, including heading up FPT since the creation of the independent Iveco Group in 2022. He has successfully led the Business Unit through significant industry challenges, delivering consistent results and contributing to the overall strength of the Group. He will continue in his current role until the end of June, ensuring continuity during the transition. The Group also announced that Simone Curti will assume the role of President, Powertrain Business Unit, on June 30, 2026, succeeding Sylvain Blaise. After earning a degree in Mechanical Engineering from the Politecnico di Torino, Mr. Curti began his career with the Company in 2004, holding roles of increasing responsibility and seniority within the Truck and Powertrain Business Units, and currently leading Truck Business Unit commercial operations in EMEA. His extensive experience across the Group and broad industry knowledge range from engineering to quality, industrial platforms, customer management and commercial operations. Duyuru • Mar 25
Iveco Group N.V. Announces Estimated Interim Dividend Distribution Iveco Group N.V. announced that its Extraordinary General Meeting held on March 25, 2026 in Amsterdam approved that the net proceeds resulting from the sale of its Defence business to Leonardo S.p.A. (as occurred on 18 March 2026) will be distributed to the shareholders by way of interim dividend distribution. As announced on 18 March 2026, based on the sale price, the expected closing adjustments and the separation costs borne for the carve out of the Defence Business, the net distributable dividend is estimated to end at €5.7 to €5.8 per issued and outstanding common share. The exact amount to be distributed will be determined by the Board of Directors, with the final decision expected to be made on 15 April 2026, with ex-dividend date on 20 April. Duyuru • Mar 19
Leonardo S.p.a. (BIT:LDO) completed the acquisition of ASTRA Veicoli Industriali S.p.A and Iveco Defence Vehicles S.p.A. from Iveco Group N.V. (BIT:IVG) for €1.6 billion. Leonardo S.p.a. (BIT:LDO) agreed to acquire ASTRA Veicoli Industriali S.p.A and Iveco Defence Vehicles S.p.A. from Iveco Group N.V. (BIT:IVG) for an enterprise value at €1.7 billion on July 30, 2025. On completion, Iveco Group intends to distribute the net proceeds of the transaction, subject to closing adjustments, to shareholders via an extraordinary dividend. The transaction will be financed through available cash resources.
For the period ending December 31, 2024, ASTRA Veicoli Industriali S.p.A/Iveco Defence Vehicles S.p.A. reported total revenue of €1.13 billion and EBIT of €108 million.
The closing of the transaction is expected in the first quarter of 2026, subject to anti-trust approval, regulatory approvals and carve-out completion. On completion, Iveco Group intends to distribute the net proceeds of the transaction, subject to closing adjustments, to shareholders via an extraordinary dividend. As of March 17, 2026, all conditions for closing sale of its defense business have been met. The transaction, which is expected to be finalized in the coming days, is a condition, inter alia, for the completion of the voluntary tender offer by Tata Motors Limited for all issued common shares of Iveco Group (after the separation of its Defence Business), as announced on July 30, 2025.
Goldman Sachs Bank Europe SE, Italian Branch acted as financial advisor for Iveco Group N.V. Freshfields LLP acted as legal advisor for Iveco Group N.V. Morgan Stanley & Co. International plc acted as financial advisor for Leonardo S.p.a. Bonelli Erede Pappalardo Studio Legale acted as legal advisor for Leonardo S.p.a.
Leonardo S.p.a. (BIT:LDO) completed the acquisition of ASTRA Veicoli Industriali S.p.A and Iveco Defence Vehicles S.p.A. from Iveco Group N.V. (BIT:IVG) for €1.6 billion on March 18, 2026. According to plan, the net proceeds of the sale will be distributed to the Company’s shareholders through an extraordinary interim dividend. Based on the sale price, the expected closing adjustments and the separation costs borne for the carve out of the Defence Business, such extraordinary dividend (initially assumed at €5.5-6.0 per share) is presently estimated to end at €5.7-5.8 per issued and outstanding common share. In due course, the exact amount to be distributed will be determined by the Board of Directors. It is currently anticipated that payment will take place in April, with ex-dividend date on 20th April as per the Italian Stock Exchange calendar. Duyuru • Jan 12
PlusAI Launches Southern Europe's First Autonomous Trucking Program with IVECO PlusAI announced an expansion of its long-standing partnership with IVECO, the commercial vehicle brand of Iveco Group N.V. Together, the companies will launch the first deployment of heavy-duty trucks equipped with Level 4 Autonomous Driving Systems (ADS) in Southern Europe, in collaboration with Spanish logistics operatorese and the Government of Aragon. Under this program, PlusAI and IVECO will develop two IVECO S-Way heavy-duty trucks integrated with PlusAI's SuperDrive™? virtual driver, enabling Level 4 autonomous capabilities. The autonomous trucks will undergo multi-year testing starting in 2026. For the entire trial period, these trucks will operate with a safety operator on board on freight routes between Madrid and Zaragoza, a corridor spanning approximately 300 km (184 miles). This initiative builds on years of joint research and testing between PlusAI and Iveco Group, including advanced Level 2+ and Level 4 programs. It also marks a significant milestone as PlusAI moves into its next phase of growth as a publicly traded company through its previously announced business combination with Churchill Capital Corp. IX. Upon closing, the combined company will operate as "PlusAI" and is expected to be listed on Nasdaq under the tick symbol "PLS." The business combination remains subject to approval by Churchill IX shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. The business combination is expected to close in first quarter of 2026. Duyuru • Aug 02
Iveco Group to Subsequently Be Delisted from Euronext, Milan Tata Motors will buy Iveco Group N.V. from its principal shareholder, the Agnelli family, for $4.4 billion to provide its commercial vehicle (CV) arm with much-needed technological heft and gain greater access to a global market with a wider range of vehicles. The deal was approved by the boards of the two companies on July 30, 2025. People in the know said the board of Tata Sons, the group holding company, was briefed on the matter. Iveco is demerging its business and the defence unit will be sold separately to Italian state-backed Leonardo. Tata Motors will be buying 27.06% from Exor, the investment company of the Agnelli family, and will launch a tender offer - similar to India's open offer mechanism - to buy out the other smaller shareholder groups. Exor also controls 43.1% of the voting rights of the truck maker. The public offer is for all issued common shares of Iveco Group after the separation of that business, at a price of EUR 14.1 per share, including dividends but excluding those distributed in relation to the sale of the defence business. Iveco will subsequently be delisted from Euronext, Milan. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: €0.39 (vs €0.60 in 2Q 2024) Second quarter 2025 results: EPS: €0.39 (down from €0.60 in 2Q 2024). Revenue: €3.78b (down 3.5% from 2Q 2024). Net income: €105.0m (down 36% from 2Q 2024). Profit margin: 2.8% (down from 4.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 31
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 56% to €6.37. The fair value is estimated to be €8.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Duyuru • Jul 30
Tata Motors Reportedly Set to Acquire Italian Truck Maker Iveco for $4.5 Billion Tata Motors Limited (BSE:500570) is all set to buy Italian truck maker Iveco Group N.V. (BIT:IVG) from its principal shareholder, the Agnelli family, for $4.5 billion making it the Tata Group's second-largest acquisition after Corus and the largest ever for the automobile major, people aware of the discussions told ET. In 2008, Tata Motors bought Jaguar Land Rover (JLR) for $2.3 billion. A formal announcement on the takeover is expected as early as July 30, 2025, said the people cited above. The boards of Tata Motors and Turin-based Iveco are meeting on July 30, 2025 to approve the transaction, said the people cited above on the condition of anonymity, as the talks are still in private domain. Iveco said on July 29, 2025, it was in "ongoing, advanced" talks with different parties for two separate transactions regarding its defence business and the rest of the company. “The board of directors of the company is in the process of carefully reviewing and evaluating all aspects of these potential transactions,” the company said in a statement, without giving further details. People aware of the proposed M&A deal structure told ET that Tata Motors would buy 27.1% from Exor N.V. (ENXTAM:EXO), the investment company of the Agnelli family, and launch a tender offer (similar to India’s open offer mechanism) to buy out the other smaller shareholder groups. Exor also controls 43.1% of the voting rights of the truck maker. Iveco is demerging its defence business, which will not be a part of the Tata Motors transaction. The Tata Group is confident of buying 100% of the listed Iveco without the defence business. The Italian company had said in May that it would press ahead with plans to either spin off its defence business by the end of 2025 or sell it, having already received offers from potential buyers. Shares of Iveco surged as much as 7.4% intraday on July 29, 2025 on expectations of a transaction. The stock has more than doubled this year, valuing the company at $6.15 billion. Exor and the board of Iveco are believed to be in favour of the sale to Tata as the Agnellis have been an old ally of the group and its former chairman Ratan Tata, a motorhead himself. Tata also had an old joint venture with Agnelli family flagship Fiat Motors in India. The Agnellis are also prominent stakeholders in Ferrari and also control Stellantis, the Dutch automotive group that has subsumed the Fiat brand. Morgan Stanley is advising Tata Motors, while Goldman Sachs is working with Agnellis and Iveco. Clifford Chance is the legal advisor. “Discussions have been ongoing for the last one and a half months and have intensified in recent weeks,” said one of the sources cited above. “Both sides entered into an exclusivity agreement for bilateral negotiations. The exclusivity is due to lapse on August 1.” Tata Motors plans to route this transaction through a Dutch entity, which will be fully owned by Tata Motors. Reuters was the first to report about Tata-Iveco talks for a possible deal on July 18. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €18.04, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Machinery industry in the United Kingdom. Total returns to shareholders of 259% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €17.23 per share. Duyuru • Jul 18
Iveco Reportedly to Draw Takeover Interest from Tata Motors Italian truckmaker Iveco Group N.V. (BIT:IVG) has attracted takeover interest from India’s Tata Motors Limited (BSE:500570), people familiar with the matter said. Tata, the owner of Jaguar Land Rover, has approached the billionaire Agnelli family over its controlling stake in Iveco, according to the people. A sale of Iveco would not include the company’s defense business, which is going through a sale process of its own, one of the people said. Buy Or Sell Opportunity • May 28
Now 30% undervalued after recent price drop Over the last 90 days, the stock has fallen 58% to €6.37. The fair value is estimated to be €9.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 8.0% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 55% After last week's 55% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Machinery industry in the United Kingdom. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.89 per share. Buy Or Sell Opportunity • May 13
Now 36% undervalued after recent price drop Over the last 90 days, the stock has fallen 57% to €6.37. The fair value is estimated to be €9.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Apr 28
Now 43% undervalued after recent price drop Over the last 90 days, the stock has fallen 43% to €6.37. The fair value is estimated to be €11.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 9.9% per annum over the same time period. Duyuru • Apr 28
Iveco Group's Defense Unit Reportedly Attracts US Buyout Firms Bain Capital , KPS Capital Bain Capital, LP and KPS Capital (KPS Capital Partners, LP) are interested in Iveco Group N.V. (BIT:IVG)’s defense unit, according to people familiar with the matter, as the Italian truckmaker looks to seize on the rising demand for military assets. The two US buyout firms have been considering bids for the business that makes armored and tactical vehicles, said the people, who asked not to be identified as the information is private. Deliberations are ongoing and they could decide against pursuing any deal, the people said. Shares in Iveco extended their gains and rose as much as 4.8% on April 25, 2025 following the Bloomberg News report. The private equity firms have previously invested in aerospace and defense. The company announced in February that it was considering separating its defense unit through a spinoff. Iveco is seeking as much as €1.5 billion for the business, which includes the IDV brand, Bloomberg News reported in March. Any potential suitors could face an uphill battle to acquire the business. Rome-based defense company Leonardo S.p.a. (BIT:LDO) is considered the likeliest buyer, because the Italian government could prefer to keep the operations in local hands and the two companies already have supply agreements, according to people familiar with the matter. Leonardo — whose biggest shareholder is the Italian government - has been holding on-and-off talks with Iveco to buy the unit since last year, but so far the parties have been unable to agree on a price, people familiar with the matter said last month. Leonardo could make a bid with its joint venture partner Rheinmetall AG (XTRA:RHM), the people said at the time. KNDS NV (KMW+Nexter Defense Systems N.V.) and Czechoslovak Group (CZECHOSLOVAK GROUP a.s.) are also among companies with possible interest in the Iveco business, the people said. Indra Sistemas, S.A. (BME:IDR), the state-backed Spanish defense and technology company that has said it’s looking to expand its military-related business, considered a potential bid but decided against it for now, the people said. Iveco could opt to list the business if it doesn’t get high enough bids, the people said. Representatives for Bain, KPS, Czechoslovak Group and Indra declined to comment. A representative for Iveco also declined to comment, adding that the board will provide an update in due course following all necessary internal and regulatory approvals. A spokesperson for KNDS didn’t immediately respond to queries. Duyuru • Apr 16
Iveco Group N.V. Approves Cash Dividend, Payable on 24 April 2025 Iveco Group N.V. at the Annual General Meeting held on April 16, 2025 approved the proposal to distribute a cash dividend of EUR 0.33 per outstanding Common Share after due discussion of the Company’s Policy on additions to reserves and on dividends. IVG Common Shares will be quoted ex-dividend on 22 April 2025. The record date for the dividend will be 23 April 2025 and the dividend will be paid on 24 April 2025. Upcoming Dividend • Apr 15
Upcoming dividend of €0.33 per share Eligible shareholders must have bought the stock before 22 April 2025. Payment date: 24 April 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (2.6%). Buy Or Sell Opportunity • Apr 11
Now 48% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €6.37. The fair value is estimated to be €12.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €13.05, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total returns to shareholders of 148% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.27 per share. Buy Or Sell Opportunity • Mar 27
Now 40% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €6.37. The fair value is estimated to be €10.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Mar 12
Now 34% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €6.37. The fair value is estimated to be €9.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Reported Earnings • Mar 06
Full year 2024 earnings released: EPS: €2.00 (vs €0.94 in FY 2023) Full year 2024 results: EPS: €2.00 (up from €0.94 in FY 2023). Revenue: €15.3b (down 4.3% from FY 2023). Net income: €535.0m (up 112% from FY 2023). Profit margin: 3.5% (up from 1.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Buy Or Sell Opportunity • Feb 25
Now 35% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €6.37. The fair value is estimated to be €9.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 44% After last week's 44% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total loss to shareholders of 41% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €9.71 per share. Buy Or Sell Opportunity • Feb 10
Now 48% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €6.37. The fair value is estimated to be €12.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Declared Dividend • Feb 10
Dividend increased to €0.33 Dividend of €0.33 is 50% higher than last year. Ex-date: 22nd April 2025 Payment date: 24th April 2025 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (7% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Duyuru • Feb 09
Iveco Group N.V. Recommends Annual Cash Dividend for the Fiscal Year 2024, Payable on April 23, 2025 The Board of Directors of Iveco Group N.V. intends to recommend to the Company's shareholders an annual cash dividend of €0.33 per common share, totaling approximately €90 million. The proposed dividend remains subject to formal Board approval and the approval of the Annual General Meeting which will take place on 16th April 2025. If shareholders approve the annual dividend at the Annual General Meeting, it is anticipated that the record date for the dividend will be 23rd April 2025, with an ex-dividend date of 22nd April 2025 and payment on 24th April 2025. Duyuru • Feb 08
Iveco Group N.V., Annual General Meeting, Apr 16, 2025 Iveco Group N.V., Annual General Meeting, Apr 16, 2025. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to €6.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total loss to shareholders of 34% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €8.29 per share. Buy Or Sell Opportunity • Jan 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 34% to €6.37. The fair value is estimated to be €8.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 2.0% in 2 years. Earnings are forecast to grow by 141% in the next 2 years. Duyuru • Jan 22
Iveco Group N.V. Announces Senior Leadership Team Changes Iveco Group N.V. announced changes to its Senior Leadership Team (SLT). Effective immediately, Domenico Nucera will assume the newly created role of Chief Quality & Operations Officer and Claudio Passerini will take over as President, Bus Business Unit. Both will report directly to Olof Persson, CEO of Iveco Group. Iveco Group’s new Quality & Operations function will regroup and centralise all Quality departments and incorporate Manufacturing and Supply Chain. Integrated Quality & Operations will connect every operational aspect of the business – from sourcing to production and delivery – enabling the Group to work even more cohesively and efficiently. The new function will be under the leadership of Domenico Nucera, who has led the Bus Business Unit of Iveco Group since its inception. Nucera brings to the role his expertise built up throughout his career, which he began in 2003 in the Powertrain business. Over the years, Nucera has assumed positions of increasing responsibility in process engineering, quality, manufacturing engineering and international operations.Claudio Passerini has a long history in the automotive industry at multi-national companies in Italy, Brazil, Russia and Germany, developing expertise in B2B sales, private equity funds, commercial turnaround, and transformation projects. In February 2022 Passerini joined Iveco Group, first as Head of Transformation then as Head of Powertrain Sales & Marketing. Passerini will now drive the Group’s Bus Business Unit in continuing to deliver sustainable people transport.Angela Qu, previously Chief Supply Chain Officer, has elected to leave the organisation to pursue other interests, while Ángel Rodríguez Lagunilla, previously Chief Manufacturing Officer, will become Head of Manufacturing Operations, reporting to Domenico Nucera and maintaining a pivotal role in the development of the Group's production value chain. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to €6.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total loss to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €9.11 per share. Buy Or Sell Opportunity • Jan 07
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €6.37. The fair value is estimated to be €8.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 2.7% in 2 years. Earnings are forecast to grow by 141% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to €6.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total loss to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €9.10 per share. Buy Or Sell Opportunity • Dec 23
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €6.37. The fair value is estimated to be €9.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 2.7% in 2 years. Earnings are forecast to grow by 141% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to €6.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total loss to shareholders of 18% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €8.75 per share. Buy Or Sell Opportunity • Dec 06
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to €6.37. The fair value is estimated to be €8.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 3.1% in 2 years. Earnings are forecast to grow by 144% in the next 2 years. New Risk • Dec 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (121% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to €6.37, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Machinery industry in the United Kingdom. Total loss to shareholders of 9.9% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €9.08 per share. Buy Or Sell Opportunity • Nov 21
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to €6.37. The fair value is estimated to be €9.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 51%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: €0.39 (vs €0.32 in 3Q 2023) Third quarter 2024 results: EPS: €0.39 (up from €0.32 in 3Q 2023). Revenue: €3.45b (down 8.3% from 3Q 2023). Net income: €104.0m (up 21% from 3Q 2023). Profit margin: 3.0% (up from 2.3% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Duyuru • Nov 06
Hedin Mobility Group AB completed the acquisition of Nordic retail commercial operations of Iveco Group from Iveco Group N.V. (BIT:IVG). Hedin Mobility Group AB entered into a letter of intent to acquire Nordic retail commercial operations of Iveco Group from Iveco Group N.V. (BIT:IVG) on March 30, 2023. The transaction is subject to regulatory approval. The transaction is expected to close in end of 2023. As of November 28, 2023 Hedin Mobility Group AB entered into a Share Purchase Agreement to acquire Nordic retail commercial operations of Iveco Group from Iveco Group N.V. The transaction includes IVECO's distribution and retail operations in Sweden, Denmark, Norway and Finland. The deal also includes the acquisition of the retail business at the IVECO-owned dealerships in Sweden (Gothenburg, Helsingborg and Malmö), Norway (Bærum), Finland (Espoo), and Denmark (Odense). Iveco N.V. will retain the businesses relating to heavy buses and mini-buses. The transaction is expected to be completed during the first half of 2024. As of June 21, 2024, European Commission has decided not to oppose the transaction.
Jaakko Huhtala, Lotta Pohjanpalo and Jouni Kautto of Waselius & Wist acted as legal advisor to Hedin Mobility Group AB (publ). Carl Friberg and Jesper Almqvist of Morris Law acted as legal advisor to Iveco Group.
Hedin Mobility Group AB completed the acquisition of Nordic retail commercial operations of Iveco Group from Iveco Group N.V. (BIT:IVG) on November 4, 2024. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 36% After last week's 36% share price decline to €6.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Machinery industry in the United Kingdom. Total loss to shareholders of 7.2% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €10.45 per share. Buy Or Sell Opportunity • Nov 05
Now 39% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to €6.37. The fair value is estimated to be €10.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (115% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (1.4% net profit margin). New Risk • Jul 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.4% Last year net profit margin: 2.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (115% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (1.4% net profit margin). Significant insider selling over the past 3 months (€465k sold). Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: €0.61 (vs €0.56 in 2Q 2023) Second quarter 2024 results: EPS: €0.61 (up from €0.56 in 2Q 2023). Revenue: €3.92b (down 6.2% from 2Q 2023). Net income: €163.0m (up 7.9% from 2Q 2023). Profit margin: 4.2% (up from 3.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Duyuru • Jul 05
Iveco Group N.V. (BIT:IVG) commences an Equity Buyback Plan for 10,000,000 shares, representing 2.89% for €130 million, under the authorization approved on April 17, 2024. Iveco Group N.V. (BIT:IVG) commences share repurchases on June 24, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 17, 2024. As per the mandate, the company is authorized to repurchase up to 10,000,000 shares, representing 2.89% of the its overall issued share capital, for €130 million. The shares will be repurchased at a minimum price per share (excluding expenses) which is not less than its nominal value and the maximum price per share will be no more than 10% above the opening price as shown in the Official Price List of Euronext Milan on the day of acquisition. The purpose of the program is to help company cover company's obligations related to share-based remuneration, under existing and/or future equity incentive plans. The program will be valid for a period of 18 months from the date of AGM, i.e. up to and including October 16, 2025. As of April 17, 2024, the company had issued share capital of 271,215,400 common shares and 74,243,570 special voting shares including 1,176,816 common shares and 70,609 special voting shares held in treasury by the company.
On June 21, 2024 the company announces a share repurchase program. Under the initial tranche of the program, the company will repurchase up to €60 million worth of its shares. The repurchased shares will be used to meet the company’s obligations under its equity incentive plans. The program will end on December 18, 2024. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to €6.37, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Machinery industry in the United Kingdom. Total loss to shareholders of 6.5% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.76 per share. Duyuru • May 22
Iveco Group N.V. Announces Change of Chief Human Resources Office Iveco Group N.V. announced that Veronica Quercia will assume the role of Chief Human Resources Officer (CHRO) as of 1st July 2024, succeeding Francesco Tutino who will leave the Company the 31st of May, as previously announced. Ms Quercia will be a member of the Senior Leadership Team (SLT) and will report directly to the CEO of Iveco Group. Ms Quercia rejoins the Group bringing with her extensive expertise in the human capital field acquired over the 20 years she spent in IVECO and CNH Industrial and, more recently, as Chief People Officer at a global technology leader in the electronic market. During her career she has covered a wide range of roles in Human Resources, serving as a Business Partner for various industrial and commercial businesses and Head of HR Centres of Expertise for talent development and organisation development, until assuming the position of HR leader at a multinational company. New Risk • May 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (118% net debt to equity). Large one-off items impacting financial results. Significant insider selling over the past 3 months (€11m sold). Reported Earnings • May 10
First quarter 2024 earnings released: EPS: €0.095 (vs €0.022 in 1Q 2023) First quarter 2024 results: EPS: €0.095 (up from €0.022 in 1Q 2023). Revenue: €3.37b (flat on 1Q 2023). Net income: €27.0m (up 350% from 1Q 2023). Profit margin: 0.8% (up from 0.2% in 1Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Recent Insider Transactions • May 07
CEO & Executive Director recently sold €465k worth of stock On the 2nd of May, Gerrit Marx sold around 40k shares on-market at roughly €11.54 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €6.8m. Gerrit has been a net seller over the last 12 months, reducing personal holdings by €11m. Buy Or Sell Opportunity • Apr 30
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to €6.37. The fair value is estimated to be €8.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Buy Or Sell Opportunity • Mar 29
Now 21% undervalued Over the last 90 days, the stock has risen 69% to €13.80. The fair value is estimated to be €17.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Recent Insider Transactions • Mar 26
CEO & Executive Director recently sold €2.6m worth of stock On the 18th of March, Gerrit Marx sold around 200k shares on-market at roughly €13.00 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €6.8m. Gerrit has been a net seller over the last 12 months, reducing personal holdings by €9.6m. Duyuru • Mar 14
Mutares SE & Co. KGaA (XTRA:MUX) signed f a definitive agreement to acquire Magirus GmbH from Iveco Group N.V. (BIT:IVG). Mutares SE & Co. KGaA (XTRA:MUX) signed f a definitive agreement to acquire Magirus GmbH from Iveco Group N.V. (BIT:IVG) on March 13, 2024. The transaction is Subject to regulatory approval, the transaction is expected to be completed no later than January 2025. Recent Insider Transactions • Mar 07
CEO & Executive Director recently sold €6.8m worth of stock On the 1st of March, Gerrit Marx sold around 584k shares on-market at roughly €11.56 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Gerrit has been a net seller over the last 12 months, reducing personal holdings by €7.0m. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to €6.37, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Machinery industry in the United Kingdom. Total loss to shareholders of 27% over the past year. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: €0.81 (vs €0.54 in FY 2022) Full year 2023 results: EPS: €0.81 (up from €0.54 in FY 2022). Revenue: €16.2b (up 13% from FY 2022). Net income: €218.0m (up 48% from FY 2022). Profit margin: 1.3% (up from 1.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in the United Kingdom. Duyuru • Feb 10
Iveco Group N.V., Annual General Meeting, Apr 17, 2024 Iveco Group N.V., Annual General Meeting, Apr 17, 2024. Agenda: To consider the annual dividend; and to consider the authorization to repurchase up to 10 million common shares for a total amount of up to 130 million, subject to market and business conditions, inter alia to serve the Company's equity incentive plans. Duyuru • Feb 09
Iveco Group N.V. Recommends Annual Cash Dividend for the Year 2023 Iveco Group N.V. announced that it has recommended annual cash dividend of €0.22 per common share for the year 2023. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Machinery industry in the United Kingdom. Total loss to shareholders of 16% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.87 per share. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total loss to shareholders of 8.8% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.94 per share. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €6.37, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total returns to shareholders of 14% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.14 per share. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €6.37, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total returns to shareholders of 2.4% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.20 per share. Duyuru • Nov 17
IVECO, Plus, dm-drogerie markt and DSV Launches Automated Trucking Pilot in Germany IVECO and Plus announced with dm-drogerie markt and DSV, the launch of an automated trucking pilot in Germany which will start in the first half of 2024. An IVECO heavy duty truck integrated with Plus's AI-based, driver-supervised highly automated driving software will operate on a DSV route to transport dm- drogerie markt products in Germany's Baden-Wurttemberg-Hessen region. Piloting with a logistics carrier on a bustling commercial freight route is a key enabler for the large-scale deployment of automated trucks in the coming years. The program serves to demonstrate that automated driving technology can already be used to enhance freight transportation and make trucking safer, less stressful, more efficient, and more sustainable. Customer deployments have already shown that Plus's driver-in solution, PlusDrive, can help reduce total cost of ownership (TCO) for fleets and improve driver job satisfaction. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: €0.32 (vs €0.17 in 3Q 2022) Third quarter 2023 results: EPS: €0.32 (up from €0.17 in 3Q 2022). Revenue: €3.76b (up 6.7% from 3Q 2022). Net income: €86.0m (up 91% from 3Q 2022). Profit margin: 2.3% (up from 1.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in the United Kingdom. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €6.37, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Machinery industry in the United Kingdom. Total returns to shareholders of 16% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.31 per share. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total returns to shareholders of 23% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.94 per share. Duyuru • Oct 07
Iveco Group N.V. and Hyundai Motor Company Unveil A New Hydrogen City Bus at Busworld Trade Show in Brussels Iveco Group N.V. and Hyundai Motor Company unveiled the first IVECO BUS E-WAY H2 at Busworld 2023 in Brussels. This new hydrogen-powered fuel cell electric bus is another concrete result of the mutually beneficial partnership the two companies announced in March 2022 and reflects their commitment to accelerate the transition towards net zero carbon mobility and transport. The new model will expand the IVECO BUS zero-emission solutions for cities, a range that already includes last generation Battery Electric Vehicles (BEVs). The E-WAY H2 is a 12-meter-long low-floor city bus equipped with a 310-kW e-motor and an advanced fuel cell system provided by HTWO, a fuel cell system-based hydrogen business brand of Hyundai Motor Group. With four tiers offering a combined storage of 7.8 kg of hydrogen and one 69 kWh battery pack by FPT Industrial, Iveco Group's brand specialised in powertrain technologies, the vehicle offers a driving range of 450 km under normal operating conditions. The E-WAY H2 allows for both hydrogen refueling and plug-in battery charging. Developed by IVECO BUS, this hybrid mid-power concept not only optimises the way the vehicle is charged, but also helps the on-board battery pack and fuel cell system to achieve their highest efficiency and durability. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Machinery industry in the United Kingdom. Total returns to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.83 per share. Duyuru • Sep 14
Iveco Group N.V. Announces Anna Tanganelli as Its New Chief Financial Officer Iveco Group N.V. announced that Anna Tanganelli will assume the role of Chief Financial Officer (CFO) as of 1stDecember 2023, succeeding Francesco Tanzi who served as CFO during Iveco Group’s successful spin-off and first year and a half as an independent Company. Ms Tanganelli will be a member of the Senior Leadership Team (SLT) and will report directly to Iveco Group CEO, Gerrit Marx. Anna Tanganelli comes to Iveco Group with extensive experience in corporate finance, including many years in the automotive sector, and a solid international background. She started her career at UBS, in the Investment Banking Division, and then moved to Fiat Chrysler Automobiles (FCA) where she covered different roles, primarily in Business Development and M&A. She garnered vast knowledge working for the EMEA Team, Fiat Powertrain, the NAFTA Team and finally Magneti Marelli, the then component division of FCA. In 2019, she was named CFO and Head of M&A of the Magneti Marelli Segment and CFO for the EMEA region within the broader Marelli Group. In 2021, she assumed the role of CFO and Head of M&A at the Iren Group, a multi-utility company listed on the Italian stock exchange. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total returns to shareholders of 26% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.81 per share. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to €6.37, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Machinery industry in the United Kingdom. Total returns to shareholders of 7.8% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.71 per share. Duyuru • Aug 04
Iveco in Talks to Sell Stake in Magirus Iveco Group (BIT:IVG) is in discussions with several parties to sell a part of its German firefighting vehicles subsidiary Magirus GmbH, CEO Gerrit Marx said during Iveco’s second quarter earnings call. Iveco is working to find an equity partner to share the ownership of the business. The goal is to provide Magirus with resources to compete more efficiently and effectively. The possible deal will also allow Iveco to focus on its core businesses. The Italian company aims the potential transaction to close by the end of 2023 or the middle of 2024, the CEO said. Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: €0.56 (vs €0.11 in 2Q 2022) Second quarter 2023 results: EPS: €0.56 (up from €0.11 in 2Q 2022). Revenue: €4.18b (up 24% from 2Q 2022). Net income: €151.0m (up 403% from 2Q 2022). Profit margin: 3.6% (up from 0.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. 
