Daimler Truck share climbs before the market: Daimler Truck increases its forecast for the year – share buyback program decided

The commercial vehicle manufacturer Daimler Truck increased sales in the second quarter.

A total of almost 132,000 vehicles were struck, according to statistics available on the company’s website on Monday evening. In the second quarter of the previous year, sales were still just under 121,000 units.

Forecast for 2023 raised

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).

In addition, the Group is raising its full-year outlook.

As justification, Daimler Truck referred to a stabilization of the supply chains, stronger core markets, robust price enforcement and a strong development of the service business.

Share buyback program approved

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incidental acquisition costs) will be acquired via the stock exchange over a period of up to 24 months and then withdrawn by way of a capital reduction.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.

In Tradegate trading, the Daimler truck share gained 1.18 percent at times compared to the XETRA closing price to 33.37 euros.

LEINFELDEN-ECHTERDINGEN (dpa-AFX) /

LEINFELDEN-ECHTERDINGEN (Dow Jones)

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