Industrial Cnh closed the half year with revenues of 16.38 billion dollars (+ 48%), while net profit amounted to 1.124 billion with diluted earnings per share up from 0.60 in the same period last year to 0 , 81 dollars in the first half of 2021. The cash flow from operating activities amounted to 1.371 billion (+836 million), while the free cash flow from industrial activities amounted to 637 million (+2 billion). In the second quarter, revenues amounted to 8.9 billion (+ 60%), theNet income it was instead equal to 699 million dollars (+338 million).
“I am extremely proud of the outstanding performance of the team of Industrial Name in the second quarter, especially our efforts to support our customers and dealers around the world. Despite the constant challenges to the logistic-production chain and the inflationary pressures, the persistent strength of our end markets coupled with our aggressive pricing, margin expansion initiatives and solid teamwork have led to record second quarter earnings, “commented the company’s CEO. Scott Wine.
“Our industry,” added the CEO, is clearly in a cyclical recovery phase and the robust performance underlying our businesses and operations allows us to reap much of the benefits. This solid environment contributed to the growth of the order book of Agriculture, Construction e Commercial and Specialty Vehicles, which also reflects the excellent second quarter performance of each or these businesses. With the acquisition of Raven Industries, the largest in the history of our company, we are significantly expanding our capabilities in precision farming, creating the basis for transforming them into a lasting competitive advantage “, declared Wine again.” We have also started the first phase of redesign of our organization, aimed both at the elimination of bureaucratic obstacles to the centrality of the customer and at the positioning of each business in preparation for separation “, underlined Wine, concluding: “Both the spin-off company and the remaining company remain fully focused on supporting our customers in these activities. With the growth of market demand, the improvement in customer perception, our production facilities who are doing their utmost to meet customer needs and an all-encompassing plan, executed in an easy way by our dedicated team, Industrial Name it is ready for a truly remarkable second semester and an even brighter future ”.
Cnh for the whole of 2021 “expects” that demand will remain solid in all geographic areas and in all segments. In the second half of the year, the greater impact of raw material costs and transport and logistics costs, a company note reads, will be partially offset by better prices. Therefore, Cnh updates the 2021 targets for its Industrial Activities, with net sales revenues expected to grow between 24 and 28% year on year; general, administrative and sales expenses are also expected to be less than / equal to 7.5% of net revenues, with positive free cash flow of over $ 1 billion. Finally, research and development and investment expenses slightly increased compared to the previous 2 billion dollars.