Not only bank risiko, there is another company that steals the scene today in Piazza Affari. AND Iveco Group, which published the results of the fourth quarter and the entire 2024, showing a strong increase in profits. The manufacturer of commercial vehicles, buses, special vehicles and for the defense has also released forecasts for 2025 higher than analysts’ estimates, and the title takes off in the start of session with a leap of the 14%.
Not only that: it seems that the company is evaluating the separation of its defense division through a spin-off in 2025.
The data of Iveco Group of 2024
Iveco Group closed 2024 with “A solid performance”, the CEO Olof Persson said in a note. The revenues have stood at 15.28 billion euros, Compared to 15.9 billion in 2023, while the net profit Adjusted has risen to 569 million, with an increase of 181 million compared to the previous year.
The Board of Directors will propose to the shareholders’ meeting, scheduled for April 16, an annual dividend of 0.33 euros per ordinary action and the authorization to regain actions of up to 10 million securities, for a maximum value of 130 millions of euros, subject to market and company conditions, also in function of the incentive plans in the shares of the company.
The financial perspectives for 2025 remain unchanged, with stable revenues. For heavy vehicles in Europe, registrations are expected between 280 and 290 thousand units, with a market in stabilization. The volumes of medium vehicles should record a slight drop compared to 2024, while the light vehicles segment should remain on the levels of the previous year.
The hypothesis of detaching the defense sector
The company is evaluating a spin-off of its own Defense division In 2025, involving the brands IDV (Iveco Defense Vehicles) e Astra, together with the related activities. In 2024, the sector recorded net revenues of 1.1 billion euros, marking a growth of 15.1% compared to the previous year, driven by greater volumes and a better mix of products.
The possible separation was born from the different market dynamics between commercial vehicles and defense. The operation thus aims to simplify the structure of the group, strengthen the managerial focus and offer greater strategic flexibility to both divisions. According to the note issued by the company, the Iveco Board of Directors will update on the analysis in the coming weeks.
Leonardo in the background?
A first step towards a new structure of a sector that, at the moment, is more strategic and remunerative than ever. In the background, there is still there Leonardo, The public group led by Roberto Cingolani, who has always expressed an interest in the activities of Iveco Defense and his brands.
The collaborations between the two groups are already underway, the last of which dates back to last year: Iveco Defgence Vehicles provides Leonardo with crawler fighting vehicles for the Italian army. A work fee has been defined between 12 and 15% of the total activities of the joint venture between Leonardo and the German Rheinmetall.
“A separation could simplify the group’s structure, increasing the attention of management and creating strategic flexibility for both activities,” explained Olof Persson again, “but no decision has been made, there is an ongoing evaluation”.
