CNH Industrial announces 2024 strategic plan
The plan includes precision technology, agriculture, construction, electrification and alternative fuels, sustainability and three-year financial targets
CNH Industrial announced its updated 2024 strategic plan at its Capital Markets Day event in Miami, Florida. Scott W Wine, CNH Industrial Chief Executive Officer, introduced the new company and set forth its strategic priorities, including customer-inspired innovation; technology leadership; brand and dealer strength; operational excellence; and sustainability stewardship.
Other senior members of the leadership team presented on topics including precision technology, agriculture, construction, electrification and alternative fuels, sustainability and three-year financial targets.
The company confirms its intention to be net-debt free by 2023.
Additional financial plan highlights include:
- Gross Margin over 24 per cent by 2024, more than 300bps increase by the end of the plan period
- R&D of ~$2.6 billion, a step up to ~4.5 per cent of net sales focusing on new products and new precision technology
The updated 2024 financial plan also commits to a consistent dividend policy and confirms the company’s ability to exercise appropriate share buybacks.
CNH Industrial will invest in a path to excellence in customer and dealer satisfaction, fundamental to the company’s future success. The state-of-the-art and productivity-boosting agricultural product portfolio will undergo significant expansion, with 150 product launches expected over the plan period, supporting the differentiated positioning of the Case IH and New Holland Agriculture brands.
The plan includes precision technology, agriculture, construction,