Daimler trucks
The truck manufacturer is currently able to push through higher prices.
(Photo: dpa)
Despite a shortage of parts and higher raw material prices, the truck manufacturer Daimler Truck increased its profits significantly in the second quarter. The adjusted operating result climbed from April to June by 15 percent to 1.01 billion euros, the Dax group announced on Thursday. Sales rose by 18 percent to 12.1 billion euros, much faster than sales, which increased by four percent to almost 121,000 vehicles.
In addition to higher prices due to persistently high demand, a growing service business and positive exchange rate effects contributed to this. According to data from Refinitiv, analysts had expected sales of 11.7 billion euros and unadjusted operating profit of 759 million euros on average.
The result of the second quarter is a strong foundation, explained CEO Martin Daum. “We now want to maintain this positive momentum for the second half of the year.” The Dax group confirmed its annual forecast of sales of 48 to 50 billion euros (previous year: 40 billion euros) and a return on sales of seven to nine percent after six percent in the previous year.
The outlook depends on the effects of the Ukraine war, higher inflation and rising interest rates on the global economy. There is also an extraordinary amount of uncertainty due to the corona pandemic. The shortage of semiconductors, which slowed down production, should meanwhile subside: “However, Daimler Truck assumes that supply bottlenecks will decrease compared to the first half of the year and that there will be no production downtime due to the availability of gas.”
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