Brief: CNH Industrial sees improvement in 2022 industry headwinds to continue this year - CEO
02/02/2023 15:19
Feb 2 (Reuters) - CNH Industrial NV CNHI.MI management
tell analysts in post-results call:
* WE PLAN TO CONTINUE OUR SHARE BUYBACK PROGRAM - CFO
* WE TARGET SOLE TRADING ON NYSE BY END OF 2023, BUT THAT
COULD
SHIFT INTO 2024 DEPENDING ON TIMING OF REGULATION CHANGE - CEO
* AT THIS MOMENT, WE DO NOT PLAN TO CHANGE OUR
INCORPORATION IN
THE NETHERLANDS OR OUR TAX DOMICILE IN THE UK AS PART OF SINGLE
LISTING - CEO
* WE DO NOT EXPECT ANY MATERIAL TAX OR TRADING CONSEQUENCES
STEMMING FROM DELISTING FROM MILAN FOR OUR SHAREHOLDERS - CEO
* I WANT TO STRESS THAT DELISTING FROM MILAN DOES NOT CHANGE
CO'S
LONG-STANDING COMMITMENT TO ITALY - CEO
* HEADWINDS FACED BY INDUSTRY IN 2022 BEGAN TO MODESTLY
IMPROVE
LATE IN THE YEAR AND WE EXPECT THAT TO CONTINUE IN 2023 - CEO
* WE HAVE SEEN A LESSER IMPACT OF INFLATION IN SOME AREAS,
BUT
OVERALL THE COST WE ARE PAYING IS NOT COMING DOWN, SO WE'LL
STILL HAVE TO PRICE GOING INTO 2023 - CEO
* QUALITY AND INNOVATION WE ARE PUTTING IN OUR PRODUCTS
SUGGEST
THAT WE DO NOT NEED TO START COMPETING ON PRICE - CEO
Further company coverage: CNHI.MI
(Reporting by Milan newsroom)