Daimler Truck reports strong third quarter thanks to US market recovery
The commercial vehicle manufacturer Daimler Truck, headquartered in Leinfelden-Echterdingen, benefited in the third quarter from a significant recovery in the US market, which had been weak last year.
The industrial business revenue, excluding financial services, rose by 20 percent to €11.6 billion.
The adjusted group profit before interest and taxes improved by almost 75 percent and reached €1.12 billion.
The company’s stock recorded a slight decline in the morning in an otherwise weak market environment.
The adjusted operating margin in the industrial business increased by almost three percentage points to 9.1 percent, exceeding analysts’ expectations.
Earnings per share grew by more than 75 percent to €0.91, while the order intake increased by 10 percent to 71,168 vehicles.
“Our results in the third quarter show that our business continues to gain momentum,” said Karin Radström, Chair of the Board of Management of Daimler Truck.
Eva Scherer, CFO of Daimler Truck, added: “The strong cash flow in the third quarter demonstrates our discipline in generating liquidity from operational strength. We want to maintain this discipline and finish the year strongly.”
Daimler Truck confirmed the full-year forecast, which expects an adjusted industrial business return on sales of seven to nine percent.
Source
“Daimler Truck mit Zahlen: Diese Hürde ist jetzt wichtig”
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