Euro News Source
No Result
View All Result
Thursday, June 1, 2023
  • Login
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
Subscribe
Euro News Source
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
No Result
View All Result
Euro News Source
No Result
View All Result
Home News Italy

CNH sees revenues rising to 2024 as new plan focuses on precision agriculture

by Euro News
February 22, 2022
in Italy
A A
0
152
SHARES
1.9k
VIEWS
FacebookTwitterLinkedin

MILAN (Reuters) -Italian-American vehicle maker CNH Industrial on Tuesday gave guidance for a total revenue growth of up to 24% through 2024 as it presented a new business plan after spinning off its truck, bus and engine units.

FILE PHOTO: Flags with CNH Industrial logo are pictured outside CNH Industrial building in Turin, Italy, February 5, 2020. REUTERS/ Massimo Pinca

In a bid to focus on its higher-margin agriculture and construction machine businesses, where data content, autonomous technologies and alternative fuels are increasingly at core, CNH Industrial at the beginning of this year completed the spin-off of its truck, bus and engine operations, now separately listed as Iveco Group,

In slides prepared for the strategy presentation the group, which is controlled by Exor NV, the holding company of Italy’s Agnelli family, forecast net sales of between $20 billion and $22 billion in 2024, up from $17.8 billion last year.

CNH, which houses brands such as Case and New Holland, also guided for a margin on its adjusted operating profit (EBIT) of between 12% and 13% in 2024 from 9.9% in 2021, with that of its agriculture unit increasing to between 14.5% and 15.5% from 12.3% over the same period.

New York-listed shares in CNH Industrial hit a day low after details of its business plan were released and were down 5.4% by 1815 GMT.

After buying Raven Industries last year for $2.1 billion to bolster its position in precision agriculture and autonomy, CNH will now focus on “disciplined” M&A activity, it added.

“We’re not buying to get bigger, our dollars are going to go towards driving organic growth,” Chief Executive Scott Wine told analysts during the plan presentation.

“Disciplined M&A will be a key part of our strategy going forward.”

The company added it was seeing strong buyer’s interest for Raven’s engineered films and aerostar units, the two non-core business it plans to sell.

Chief Digital Officer Parag Garg said CNH was well placed to be leaders in autonomy and help customers throughout the entire farming cycle.

“Automation is a key strength for CNH Industrials tech strategy, already bringing benefits to farmers across the world across the whole cycle and helping build a backbone for it to deliver an autonomous future,” he told analysts.

Reporting by Giulio Piovaccari in Milan and Bianca Flowers in New York; editing by Agnieszka Flak and Jonathan Oatis

Source: Reuters

Tags: BusinessCNHFinancials (Legacy)INDUSTRIALPLAN

Related Posts

Italy

Italy’s right-wing government resuscitates mega Sicily bridge project

November 22, 2022
Italy

Italy’s Meloni hails “courageous” budget, opposition plans protests

November 22, 2022
Italy

Factbox: Italy’s government approves 2023 budget, key points

November 22, 2022
Italy

Italy to press ahead with plans to sell ITA despite MSC snub

November 22, 2022
Italy

Venice kept dry as dam system wards off exceptional high tide

November 22, 2022
Italy

Italy to extend Ukraine arms supply law for 2023 – minister

November 21, 2022
Please login to join discussion
  • Trending
  • Comments
  • Latest

Dutch speed up coronavirus booster campaign, cut waiting time to three months

December 14, 2021

Manchester United – Manchester City live – 6 November 2021

November 6, 2021

Woman livestreams fatal stabbing of half-sister

October 25, 2021

Irish couple, 23 and 26, ‘carry out vicious knife attack in Sydney’

October 14, 2021
Freedom Day

Freedom Day

0
Fire Accident

Fire Accident In Iraq

0
Scotland

Advice from the Scotland Prime Minister

0
Brexiteers

Brexiteers Should Thank The EU

0

Manchester United could be place up for sale as the Glazer relatives request new financial investment – report

November 22, 2022

Lucy Letby demo: Nurse went salsa dancing the night time soon after allegedly attempting to murder toddler, court explained to

November 22, 2022

Observe as Mark Allen performs remarkable 5-cushion escape in German Masters qualifying win

November 22, 2022

Manchester United entrepreneurs to discover sale as Glazers search for new expenditure

November 22, 2022

Recent Posts

Manchester United could be place up for sale as the Glazer relatives request new financial investment – report

November 22, 2022

Lucy Letby demo: Nurse went salsa dancing the night time soon after allegedly attempting to murder toddler, court explained to

November 22, 2022

Observe as Mark Allen performs remarkable 5-cushion escape in German Masters qualifying win

November 22, 2022

Manchester United entrepreneurs to discover sale as Glazers search for new expenditure

November 22, 2022

France – Australia Live – Globe Cup: Soccer Scores & Highlights

November 22, 2022

Loved ones of previous police officer call for help for people facing domestic abuse by serving officers

April 26, 2023

Recent Posts

  • Manchester United could be place up for sale as the Glazer relatives request new financial investment – report
  • Lucy Letby demo: Nurse went salsa dancing the night time soon after allegedly attempting to murder toddler, court explained to
  • Observe as Mark Allen performs remarkable 5-cushion escape in German Masters qualifying win
  • Manchester United entrepreneurs to discover sale as Glazers search for new expenditure
  • France – Australia Live – Globe Cup: Soccer Scores & Highlights

Categories

  • Austria
  • Bahamas
  • Belarus
  • Belgium
  • Breaking News
  • Brexiteers
  • Business
  • China
  • COVID Cases
  • Covid-19
  • Cyber security
  • Debt
  • Economics
  • Energy
  • England
  • Fashion
  • Fire Accident
  • Food
  • France
  • Freedom Day
  • Germany
  • Health
  • Human Launch
  • Humanitarian
  • Ireland
  • Italy
  • Netherlands
  • News
  • Norway
  • Opinion
  • Politics
  • Refugees
  • Russia
  • Russia
  • Rwanda
  • Saudi Arabia
  • Science
  • Scotland
  • Scotland
  • Spain
  • Spanish-Flu
  • Sports
  • Switzerland
  • Travel
  • Ukraine
  • United Kingdom
  • Videos
  • Wales
  • Zambia

Site Navigation

  • About
  • Advertise
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
Euro News Source

Euro News Source is one of the best sources of European News. We provide the latest news from the European Union and its member states, local and international political, economic and sports news. Follow us to receive all news from around the European Union.

© 2021 Euro News Source.

No Result
View All Result
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videos

© 2021 Euro News Source.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?