Iveco Group (IVCGF), a manufacturer of commercial vehicles, Friday reported profit before tax of 13 million euros for the fourth quarter, lower than 32 million euros in the same quarter a year ago, primarily impacted by lower volumes.
The company posted profit from continuing operations of 98 million euros or 0.38 euros per share, compared with loss of 22 million euros or 0.10 euros per share last year, thanks to a tax benefit of 85 million euros.
Net profit was 90 million euros or 0.34 euros per share compared with net loss of 25 million euros or 0.10 euros per share a year ago.
Revenue for the quarter declined to 4.557 billion euros from 4.782 billion euros in the previous year.
Additionally, Iveco's CEO, Olof Persson said that the company's Board mulls splitting its Defence business, consisting of the IDV and ASTRA brands and related activities, during 2025 through a spin-off.
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