Market expectations were exceeded in the first quarter thanks to strong demand and higher sales than in the same period of the previous year, the company announced on Monday evening in Leinfelden-Echterdingen. Adjusted earnings before interest and taxes (EBIT) across the group were EUR 1.16 billion. The average analyst estimate was 976 million euros.
In the industrial business – i.e. without financial services – the adjusted operating result (EBIT) was 1.11 billion euros (consensus: 923 million). Adjusted return on sales was 8.8 percent (consensus: 7.6). At EUR 168 million, free cash flow was also above market expectations.
Daimler Truck intends to present the complete quarterly figures on May 9th.
Investors pleased
Daimler Truck convinced investors with its quarterly figures on Tuesday just as other European truck manufacturers had previously. Via XETRA they temporarily gain 2.07 percent to EUR 30.58.
Daimler Truck has exceeded expectations mainly thanks to Mercedes-Benz and the Asian business and this should reassure investors for now, a dealer said. However, the fact that the outlook for 2023 was retained and the lack of information on incoming orders did not answer the crucial question of whether the cycle had now reached its zenith, the retailer pointed out.
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LEINFELDEN-ECHTERDINGEN (dpa-AFX)
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Image sources: Daimler Truck AG