Iveco in profit
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Iveco's consolidated financial statement for 2004 is its first with a positive balance sheet since 2001.
The manufacturer says its economic recovery began in the second half of 2003 and puts its 104 million Euro net profit down to the 'strongest global growth rates in the last thirty years'.
Iveco says that although growth was not as strong in Western Europe as in Asia and the US, positve trends in the UK, France and Spain helped the European commercial vehicle market to expand by 11.8%.
Iveco's total sales and revenues anounted to 9.3 billion Euros, a 10.2% increase on 2003.
Operating income increased from 81 million Euros in 2003 to 357 million Euros last year. The companies indebtedness reduced from 397 million Euros to 33 million and the company achieved its much improved results while still investing 231 million Euros in research and development programmes.
In a joint statement, Iveco chief executive, Paolo Monferino and chairman, Sergio Marchionne said: 'Our commitment to the satisfaction of our customers and stockholder, by focusing incessantly on the market, the excellent quality of our products and services, and our global presence in partnership with our dealers, will be confirmed in full in 2005, in a market that continues to show signs of growth.'
Iveco told ROADWAY that it admits 2005 will be a tougher year, but it will continue to persue its goals of lasting profitable growth.
The manufacturer says its economic recovery began in the second half of 2003 and puts its 104 million Euro net profit down to the 'strongest global growth rates in the last thirty years'.
Iveco says that although growth was not as strong in Western Europe as in Asia and the US, positve trends in the UK, France and Spain helped the European commercial vehicle market to expand by 11.8%.
Iveco's total sales and revenues anounted to 9.3 billion Euros, a 10.2% increase on 2003.
Operating income increased from 81 million Euros in 2003 to 357 million Euros last year. The companies indebtedness reduced from 397 million Euros to 33 million and the company achieved its much improved results while still investing 231 million Euros in research and development programmes.
In a joint statement, Iveco chief executive, Paolo Monferino and chairman, Sergio Marchionne said: 'Our commitment to the satisfaction of our customers and stockholder, by focusing incessantly on the market, the excellent quality of our products and services, and our global presence in partnership with our dealers, will be confirmed in full in 2005, in a market that continues to show signs of growth.'
Iveco told ROADWAY that it admits 2005 will be a tougher year, but it will continue to persue its goals of lasting profitable growth.
