Iveco to separate Defence business, proposals already under consideration

The board of directors of Iveco Group has decided to proceed with the separation of the Defence business of the Group through a spin-off. We are expect - he explains - that this will happen by 2025, after the approval of the board and shareholders of Iveco Group (and of the advice of the other companies of the group involved) and the regulatory approvals. Iveco Group has received "some Preliminary expressions of interest for the Defence business from potential strategic buyers". The board gave mandate to management to continue preparatory activities to the spin-off, while exploring such preliminary interests. Iveco Group closed the first quarter of 2025 with revenues consolidated at 3 billion euros compared to 3.36 billion of the first quarter of 2024 and an adjusted net profit of 84 million of euros (153 million euros) with diluted earnings per share adjusted equal to 0.31 euros (0.57 euros). The company confirms the financial outlook for the year. "The business environment of the quarter was characterized by a reduction in demand in the European truck segments, as expected. We have acted quickly to preserve and reaffirm our prospects of business and financial for the entire year", comments the CEO Olof Persson.