LEINFELDEN-ECHTERDINGEN (Dow Jones)–Daimler Truck is raising its forecast for the 2023 financial year. The commercial vehicle manufacturer justifies the step with a strong first quarter of 2023 and strong sales in the second quarter. The forecast for the adjusted return on sales for the industrial business in 2023 is now in a range of 8.5 to 10 percent (previously 7.5 to 9 percent). Based on the individual industry segments, the forecast for the adjusted return on sales and sales is adjusted as follows:
Trucks North America: 11% – 13% (previously: 10% – 12%); Sales guidance unchanged at 190k to 210k;
Mercedes-Benz: 8% – 10% (previously: 7% – 9%); Sales forecast increased to 155,000 to 175,000 (previously: 150,000 to 170,000);
Trucks Asia: 4% – 6% (previously: 3% – 5%); Sales forecast increased to 160,000 to 180,000 (previously: 150,000 to 170,000);
Daimler Buses: 3% – 5% (previously: 2% – 4%); Sales forecast unchanged at 20,000 to 25,000;
The sales forecast for Daimler Trucks has been raised to a total of 530,000 to 550,000 units (previously: 510,000 to 530,000);
In addition, the Group is increasing the full-year outlook for the following key figures:
Daimler Truck Group turnover: EUR 56 – 58 billion (previously: EUR 55 – 57 billion);
Turnover of the industrial business of the Daimler Truck Group: EUR 54 – 56 billion (previously: EUR 53 – 55 billion);
Group investment and research & development costs: slightly increasing (previously: at previous year’s level);
Free cash flow of the industrial business: significant increase (previously: slight increase).
Against the background of the robust liquidity situation, the Board of Management and the Supervisory Board have decided to implement a share buyback program. It is expected that from the beginning of August 2023, treasury shares worth up to EUR 2 billion (excluding incidental acquisition costs) will be acquired via the stock exchange over a period of up to 24 months and then withdrawn by way of a capital reduction. The share buyback program is based on the authorization of the Annual General Meeting on November 5, 2021.
Contact the author: [email protected]
DJG/flf
(END) Dow Jones Newswires
July 10, 2023 15:33 ET (19:33 GMT)
Selected leverage products on Daimler Truck
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired lever and we will show you suitable open-end products on Daimler Trucks
Leverage must be between 2 and 20