CNH Sees Revenues Rising to 2024 As New Plan Focuses on Precision Agriculture

By Reuters

Italian-American vehicle maker CNH Industrial on Tuesday estimated 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, reports Reuters.

CNH Industrial completed the spin-off of its truck, bus and engine operations, now separately listed as Iveco Group , at the start of 2022. It is focusing on higher-margin agriculture and construction machine businesses, whose data content, autonomous technologies and alternative fuels are increasingly at the center of CNH’s business.

The group 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, according to slides in the presentation.

CNH, which houses brands such as Case and New Holland, also estimated a margin on its adjusted operating profit (EBIT) of between 12% and 13% in 2024, up from 9.9% in 2021. The margin for its agriculture unit is expected at between 14.5% and 15.5%, up from 12.3% over the same period.