Munich (Reuters) – After strong sales and profit growth in the first nine months, the Munich truck and bus group Traton is raising its forecast.
The adjusted operating return on sales should be between 7.5 and 8.5 percent this year, as the holding company with the brands MAN, Scania, Navistar and VW Trucks announced on Wednesday. Traton had previously expected 7.0 to 8.0 percent. After three quarters, the return of 8.6 (2022: 4.7) percent is still above the forecast because the adjusted operating profit has more than doubled to 2.92 (previous year: 1.35) billion euros. The Volkswagen subsidiary’s cash flow is expected to be half a billion higher than previously planned at 2.3 to 2.8 billion euros in 2023.
“Our business development in the third quarter was very pleasing, which is why we are now becoming more optimistic for the year as a whole,” said CEO Christian Levin. The reason for the higher profits is better utilization of production after the supply of parts has improved and greater economies of scale due to increased sales. “The significantly increased prices for energy, raw materials and other supplier parts were compensated for with price measures,” the statement said. Sales of trucks and buses rose by 15 percent to almost 250,000 from January to September, and sales rose even more sharply by 20 percent to 34.2 billion euros.
For the entire year, however, Traton maintains its expectation that sales and revenue will each increase by five to 15 percent. Incoming orders have normalized: at almost 190,000, orders were a good quarter below the previous year. In Europe, the weak economy has unsettled customers; in Brazil, new emissions regulations have curbed demand, Traton explained the minus.
(Report by Alexander Hübner, edited by Ralf Banser. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for companies and markets).)
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