Daimler Truck continues strong business development in Q1 2023

Unit sales significantly above prior-year level: 125,172 units (Q1 2022: 109,286)

Daimler Truck Holding AG (“Daimler Truck”) started 2023 with a strong business development 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.”

Key Figures – Group and Segments

Q1 2023Q1 2022+/-
Unit Sales125,172109,28615 %
EBIT (adjusted)*1,16265178%
ROS (adjusted, IB)**8.85.9
Free Cash Flow (IB)*16873129%
Incoming Orders122,935138,721-11%
Earnings per sahre in €0.900.31189%
Trucks North America
Q1 2023Q1 2022+/-
Unit Sales48,89143,47712%
EBIT (adjusted)*67538675%
ROS (adjusted)**11.68.4
Q1 2023Q1 2022+/-
Unit Sales34,49233,7632%
EBIT (adjusted)*44034229%
ROS (adjusted)**8.87.9
Trucks Asia
Q1 2023Q1 2022+/-
Unit Sales40,21029,99334%
EBIT (adjusted)*8031160%
ROS (adjusted)**4.62.2
Daimler Buses
Q1 2023Q1 2022+/-
Unit Sales5,5703,58255%
EBIT (adjusted)*9-45
ROS (adjusted)**1.0-7.1
Financial Services
Q1 2023 Q1 2022+/-
New Business2,4011,56853%
EBIT (adjusted)*524710%
Return on equity  (adjusted)**9.211.3

*in millions of €
**in percent

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.

SOURCE: Daimler Truck 

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