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Italy's Iveco says operating profit fell in Q2, cash flow negative
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Italy's Iveco says operating profit fell in Q2, cash flow negative
Jul 23, 2024 11:22 PM

TURIN, Italy, July 24 (Reuters) - Italian truck and bus

maker Iveco Group ( IVCGF ) on Wednesday said its operating

profit fell 4% in the second quarter of the year due to lower

volumes and adverse forex impact and that it burnt cash in the

period.

The manufacturer said its adjusted earnings before interest

and tax (EBIT) from industrial activities amounted to 264

million euros ($286 million) in the April-June period, slightly

topping a company-provided analysts' consensus of 250 million

euros.

Free cash flow from industrial activities was negative by 98

million euros in the second quarter.

($1 = 0.9217 euros)

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