- Iveco Group to present 2025 Fourth Quarter and Full Year Results on 12th February 2026
- Transactions progressing as planned with the expected dividend for the Defence separation remaining at €5.5-6.0 per share
- EGMs for Defence and the Tata Motors tender offer expected to be held in March and early May 2026, respectively
- Despite ongoing challenging conditions, targets are expected to be met at or slightly below guidance, with the exception of Industrial Free Cash Flow, which is below guidance despite a solid Q4 performance
Turin, 23rd January 2026
Financial Disclosure Calendar
Iveco Group announces the following calendar dates for 2026, which is available on the corporate website: www.ivecogroup.com.
| Date | Earnings releases |
| 12th February | Results for 4th quarter and preliminary annual results for 2025 |
| 7th May | Results for 1st quarter 2026 |
| 30th July | Results for 2nd quarter 2026 |
| 5th November | Results for 3rd quarter 2026 |
Markets will be promptly informed of any changes to the above calendar. Financial guidance for 2026 performance will not be provided in these disclosures.
A live audio webcast of the 12th February conference call will begin at 11:00 am CET / 10:00 am GMT. Details for accessing the webcast are available at the following link: Q4 2025 Iveco Group Webcast. The related press release and presentation will be posted on the corporate website at www.ivecogroup.com on the same morning. For those unable to take part in the live session, a replay will be available in the Investors section of the Company website (www.ivecogroup.com) following the conference call.
The Annual General Meeting to discuss and approve Iveco Group N.V.’s Full Year Financial Statements is expected to take place in early June 2026, with no ordinary annual cash dividend distribution foreseen for FY2025.
Defence Separation
The corporate carve-out of the Defence Business (IDV and ASTRA brands) was completed in 2025 and the required regulatory approval processes are in progress as expected. An Extraordinary General Meeting to authorise the distribution of the net proceeds of the sale of the Defence Business to Leonardo S.p.A. (EXM: LDO) is expected to take place in the second half of March 2026 (the “Defence EGM”). Based on the available preview of the 2025 Defence Business results, the estimated extraordinary dividend remains € 5.5-6.0 per share. Payment is currently anticipated in April 2026 after contractual closing adjustments are finalised, in line with the standard ex-dividend date of 20th April on the Italian Stock Exchange calendar.
As announced in July 2025, if the sale to Leonardo S.p.A. is not completed prior to or on 31st March 2026, the Company is taking all actions necessary to complete a spin-off of the Defence Business through a statutory demerger, which would transfer the business into a company, newly incorporated under Dutch law. The common and special voting shares of this company would be proportionally allotted to Iveco Group shareholders existing at the time of the demerger, with common shares listed and traded on Euronext Milan. The Defence EGM will be asked to vote on the demerger proposal as a precautionary measure.
Tender Offer
The voluntary tender offer for the issued common shares after the separation of defence (the “Tender Offer”), is expected to complete in the first half of 2026 as planned. This is based on the information received from Tata Motors Limited (NSE: TATAMOTORS) and is conditional upon the separation of the Defence Business as noted above. In relation to the Tender Offer, Company currently anticipates convening an Extraordinary General Meeting in early May to adopt the resolutions summarised in the Offeror’s Notice (by which on 30th July 2025 TML CV HS, pursuant to and for the purposes of Article 102, paragraph 1, of the Italian CFA and Article 37 of Consob Issuers' Regulation, informed Consob and disclosed to the market and the issuer its decision to promote the Tender Offer).
As per applicable rules, pending publication of the Offer Document, the legal basis, terms, price and key elements of the Tender Offer are available in the Offeror’s Notice. The Offeror’s Notice has been published on behalf of TML CV HS on the website of Tata Motors at www.tatamotors.com and on the Company’s website at www.ivecogroup.com.
2025 Industrial Free Cash Flow below latest forecast
The financial results for the Fourth Quarter and Full Year 2025 (preliminary and unaudited figures) will be presented on Thursday, 12th February 2026.
Based on the operational preview of the 2025 financial results, the Company currently foresees all financial targets will come in at or just slightly below guidance with the exception of Free Cash Flow of Industrial Activities. Despite an expected solid Q4 2025 Free Cash Flow performance, FY 2025 Industrial Free Cash Flow is currently estimated at about €60 million, compared to the guidance issued on 6th November 2025 of between €250 million - €350 million. The main reason for this is lower-than-forecasted Free Cash Flow performance in the Bus segment during the fourth quarter due to ramp-up cost and production delays. Actions already in place are expected to enable a recovery in 2026.