Daimler Truck continues strong business development in Q1 2023

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Daimler #truck Holding AG ("Daimler Truck") started 2023 with a strong #businessdevelopment and continues its profitable growth path. In the first #quarter of the current financial year the group significantly increased its unit sales compared to prior-year’s #quarter by 15% to 125,172 units (Q1 2022: 109,286). Supported by a stabilization of global supply chains compared to prior-year #quarter, high demand and the increase in unit sales, revenue significantly rose by 25% to €13.2 billion (Q1 2022: €10.6 billion).

Adjusted EBIT increased significantly by 78% to €1,162 million in the reporting period (Q1 2022: €651 million). In the Industrial Business (IB), adjusted EBIT of €1,110 million was 84% higher than in the same period of the previous year (Q1 2022: €604 million). At €795 million, net profit was significantly above prior-year's #quarter of €275 million. At €168 million, free cash flow of the Industrial Business rose by 129% compared to the same period of the previous year (Q1 2022: €73 million). The adjusted return on sales (adjusted ROS) aggregates to 8.8% (Q1 2022: 5.9%). Earnings per share amounted to €0.90, up 189% compared to Q1 2022 (€0.31).

Jochen Goetz, CFO of #daimler #truck: "We have set the clear goal to continue our profitable growth in 2023. After the first #quarter, we can state: We started strong and we are on track. Our results in Q1 exceeded the capital market's profit expectations and all our Industrial Business segments contributed to the growth in profitability. The continued high demand for our trucks, buses and services is a good foundation to keep the positive momentum for the coming quarters."

Daimler #truck continues to expect a robust development in important commercial vehicles sales markets. The Company's outlook for the 2023 Financial Year remains unchanged from the statements made at the Annual Results Conference (March 2023).

The terms adjusted EBIT, adjusted return on sales, adjusted return on equity, free cash flow (Industrial Business) are defined on page 36 of the #daimler #truck Annual Report 2022.

Further information in the press release to download