The withdrawal from Russia had impacted Daimler Truck’s business. Now the profits are bubbling up again. Despite the slight decline in incoming orders, the CFO feels comfortable.
The commercial vehicle manufacturer Daimler Truck almost tripled its profit in the first quarter. Consolidated earnings for the three months from January to March were EUR 795 million, as the Dax group announced on Tuesday in Leinfelden-Echterdingen. A year earlier it was only 275 million euros.
A year ago, among other things, costs for the withdrawal from Russia had been a burden. As already known, Daimler Truck had a good start to the year in day-to-day business, and the Swabians had already presented key data. Thanks to stabilized supply chains and an increase in sales, sales climbed by 25 percent to 13.2 billion euros. In the vehicle construction business, the adjusted operating margin before interest and taxes, which was much noticed on the capital market, was 8.8 percent and thus rose by almost three percentage points.
However, incoming orders fell by 11 percent to 122,935 vehicles compared to the strong prior-year figure. Chief Financial Officer Jochen Goetz saw the situation for the company as comfortable. “The continuing high demand for our trucks, buses and services is a good basis for maintaining the positive momentum for the coming quarters,” said the manager, according to the announcement. Daimler Truck confirmed the forecast for the year.
communication
Source: Stern
