Iveco Group reported a €45 million third-quarter loss days after Tata Motors’ offer vehicle secured an 89.42% stake, though the results cover operations before the Oct. 30 settlement.
Iveco released its results Tuesday, Nov. 3, for the three months ended Sept. 30. Continuing operations had earned €16 million in the same quarter of 2025. The latest loss was Iveco’s second quarterly loss in 2026: it lost €116 million in the first quarter and posted a €38 million profit in the second.
Revenue rose 1.4% year over year to €3.158 billion. Adjusted EBIT fell to €30 million from €111 million a year earlier, leaving a 0.9% margin; adjusted EBIT for Industrial Activities was zero.
Iveco cited spending on quality initiatives, an unfavorable product mix and inflation as pressures on earnings. Chief Executive Olof Persson said the quality work had “weighed on profitability” and reached its peak during the quarter. The company projected improved profitability in the fourth quarter, while listing weak light-commercial-vehicle demand and macroeconomic uncertainty as headwinds. It also said the benefits of its quality initiatives should become more visible over time.
For the first nine months of 2026, continuing operations lost €123 million, compared with a €109 million profit in the same period last year. Total net profit was €1.162 billion, including €1.285 billion in profit from discontinued operations, net of tax. Iveco transferred its defense business to Leonardo in March.
Tata’s offer vehicle held 238,157,212 Iveco shares after the initial settlement, equal to 89.42% of common share capital excluding treasury shares. The offer period reopened through Nov. 6, with shares tendered during that window scheduled to settle Nov. 13.
Iveco’s 2025 results showed continuing-operations revenue down 7% to €13.4 billion and continuing-operations net profit of €233 million, compared with €489 million in 2024. The company cited a shrinking European market for light commercial vehicles and heavy-duty trucks, along with a delayed bus-production ramp-up in France.