Today’s first day of trading on the Frankfurt Stock Exchange marks the start of a new era for Daimler Truck. Following the spin-off from Daimler AG, today’s first day of listing symbolizes Daimler Truck’s embarkment into unrestricted entrepreneurial independence. This is probably the most important milestone in the company’s history. In future, investors will have the opportunity to invest directly in the shares of one of the world’s largest commercial vehicle manufacturers. Daimler Truck considers itself well positioned for the new era of independence. In preparation for the Spin-Off, the company has specified its financial ambitions to increase the performance and profitability of the segments. Daimler Truck is consistently and continuously focusing on improving profitability in order to lead the industry on the road to CO2-neutral transport. Based on its proven cash generation and strong balance sheet, Daimler Truck has received solid investment grade credit ratings. Daimler Truck expects its shares to be listed in the Regulated Market of the Frankfurt Stock Exchange in the DAX index, which has been expanded to 40 members, at the next possible date – probably in the first quarter of 2022
“Today is a historic day for Daimler Truck: For 125 years, our truck and bus business was part of the Daimler Group – now we are becoming an independent, listed company. Making this possible organizationally was a tour de force. My thanks therefore go to our entire team for their unparalleled commitment over the past weeks and months. So in this respect, today is a finish line for us. We have worked hard to get there. However, this 10th of December 2021 is above all the exact opposite, namely a starting line. Because now things are really getting started for Daimler Truck. Now we are looking ahead with courage and confidence. Now we are looking forward to use the creative opportunities as an independent company with our great global team – for even more entrepreneurial success in the future. Everyone should benefit from this – our workforce, our customers and, of course, our shareholders,” said Martin Daum, Chairman of the Board of Management of Daimler Truck Holding AG in the stock exchange hall in Frankfurt.
Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG, said: “Today marks the beginning of a new era for us. We are fully focused on building the world’s most desirable cars and leading the way in electromobility and vehicle software. At the same time, the listing of Daimler Truck turns one success story into two. The historic reorganisation to two “pure-play” companies is intended to unleash the full potential of both companies and create decisive added value for all sides. We wish Daimler Truck a successful future and look forward to the beginning of a new era with confidence.”
Jochen Goetz, CFO of Daimler Truck Holding AG, said: “Daimler Truck is also financially in a very good starting position for our entrepreneurial independence. Our balance sheet is rock solid and we have already proven in the past how reliably we can generate an attractive cash flow. We are now putting all our energy into fully exploiting our earnings potential and driving forward the transformation to emission-free transport in a focused manner. We want to create sustainable value for our investors as well.”
SOURCE: Daimler Truck
