Cnh Industrial closes 2021 with “a strong performance”
Cnh Industrial in 2021 he achieved, without Ivecoa net profit of € 1.76 billion with adjusted diluted earnings per share of $ 1.35 e consolidated revenues of $ 33.4 billion (up 28% year on year). L’Adjusted EBIT of industrial assets amounted to $ 2.114 billion, the highest in the company’s history.
The free cash flow is positive and equal to 1.751 billion dollars. In the fourth quarter, net revenues from industrial activities amounted to $ 17.802 billion, up 36.1% for effect of strong demand, better prices and less reduction in stocks at the sales network and distributorsthe. L’Adjusted EBIT of industrial activities of $ 1.763 million ($ 583 million in 2020), with agriculture adjusted Ebit of $ 1.810 billion and adjusted EBIT margin of 12.3%. Adjusted Ebit increased by $ 274 million for Construction.
Adjusted EBIT Margin of Industrial Activities 9.9% of net sales revenues. Adjusted net profit of $ 1,747 million, with adjusted diluted earnings per share of $ 1.28 (adjusted net profit of $ 586 million in 2020, with adjusted diluted earnings per share of $ 0.42). The Cnh Industrial Board of Directors intends to propose an annual dividend of 0.28 euros per ordinary share to the company’s shareholders, for a total of approximately 380 million euros (430 million dollars).
There proposal from dividend – explains a note – remains subject to the formal approval of the Board and the approval of the shareholders at the next annual shareholders’ meeting (scheduled for April 13, 2022). If the shareholders approve the annual dividend during the meeting, the record date for the dividend is expected to be April 19, 2022, with coupon detachment on April 20, 2022.
“I am proud and deeply grateful for how our Cnh Industrial team has managed to overcome a difficult year. Between external challenges: Covid, logistics-production chain and internal opportunities: spin-off, acquisition and integration of Raven and our reorganization customer-centric, has lived up to every occasion, while continuing to focus on serving our customers and dealers. The team’s efforts have led the company to record revenue and earnings per share, and it is particularly gratifying to generate such results in the last year as a combined entity “, he declared Scott W. Wine, Chief Executive Officer.
“This performance represents a solid basis for the future success of Iveco Group and Cnh Industrial, particularly as it records our second consecutive year with a net cash position, with over $ 1.7 billion in free cash flow from the Assets. Industrials for 2021. In the fourth quarter we exceeded expectations by managing our logistics-production chain, in particular the shortage of microchips, better than expected, and while believing that these pressures are likely to continue, our team has also demonstrated the ability. to know how to overcome them. With constant strength in our end markets and order book, and a global strategy for the future, Cnh Industrial is excited to start 2022 as a ‘pure play’ in the agricultural and construction machinery market “.
During conference call with analysts, the CEO explained that Cnh will continue to focus strongly on strategic partnerships and he said he was satisfied with the product pipeline and the order portfolio. Ample space was dedicated to the semi-conductor crisis.
“The fourth quarter was impacted by numerous interruptions in the production cycle due to the lack of components, mainly semiconductors. The realization of prices in both segments was once again higher than the increase in the overall costs of the products, albeit to an extent reduced compared to previous quarters. The product mix played adversely on our agricultural lines as we were able to ship fewer medium and heavy tractors needed due to the shortage of semiconductors “, said the CFO of Cnh I., oddone Incisa, during the conference call with analysts. “The first half of 2022 will be impacted by shortages in the supply chain”. These difficulties “should ease in the second half of the year”, the leaders explained.
#Cnh #profits #billion #Focus #partnership