# Italy’s Iveco ups 2023 guidance after operating profit jump
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2023-05-11
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Iveco Raises 2023 Guidance After Strong Profit Growth
Meta Description: Iveco boosts its 2023 earnings forecast after a 63.4% increase in Q1 operating profits. Learn more about the company's financial growth.
URL: https://startupobserver.com/italys-iveco-ups-2023-guidance-after-operating-profit-jump/

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(Reuters) – Italian truckmaker Iveco on Thursday raised its guidance for this year, after posting a 63.4% rise in adjusted operating profits in the first quarter.

The manufacturer said its adjusted earnings before interest and tax (EBIT) from industrial activities would come in between 510-550 million euros ($561.41-$605.44 million) this year, up from a previous forecast of between 460-500 million euros.

Its EBIT from industrial activities stood at 134 million euros in the January to March period.

($1 = 0.9084 euros)

(Reporting by Federica Urso, editing by Gavin Jones)


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