After the conclusion of its first full financial Year as an independent, listed company, the second Annual General Meeting of Daimler Truck Holding AG (“Daimler Truck”) takes place today.
At this meeting, the shareholders will vote on the agenda items listed in the convocation of the meeting. These include the ratification of the actions of the Board of Management and the Supervisory Board for the 2022 financial Year, the resolution on the appointment of the auditor for the annual financial statements, the consolidated financial statements and the approval of the annual remuneration report. In addition, a resolution is to be passed on the modified remuneration system for the members of the Board of Management proposed by the Supervisory Board. The intent is to align the remuneration of the Board of Management even more closely with the sustainable interests of the shareholders. In the future, the variable remuneration components will be much more dependent on whether the Company achieves not only its financial targets, but also its non-financial ESG targets. Long-term share-based remuneration reflects the sustainable success of Daimler Truck and plays a central role in aligning the interests of the Board of Management and shareholders. Furthermore, a resolution is to be passed on an authorization in the Articles of Incorporation that gives the Board of Management the option of deciding whether the Company’s General Meeting in 2024 and 2025 should be held virtually or in presence. Detailed information on the agenda can be found at: https://www.daimlertruck.com/en/investors/financial-calendar/annual-general-meeting-2023
“Last year was a special year for Daimler Truck: It was the first full financial year as an independent company and also the most profitable year in the company’s entire history. The company quickly set the course for the transformation to zero-emission vehicles and thus possible new business models. In addition, focus, efficiency and speed have increased. This underscores that the step toward independence was absolutely the right one,” said Joe Kaeser, Chairman of the Supervisory Board, on the occasion of the virtual Annual General Meeting.
Daimler Truck reaffirms at the Annual General Meeting its strategic ambitions: Continuous profitable growth and a leading role in the transformation toward sustainable transportation. A core element of this is the dual technology strategy. In addition to battery-electric drives, the Company is also focusing on hydrogen. The future product portfolio is developed based on these two drive concepts. By the end of 2022, the Group already had eight zero-emission truck and bus models in series production – not only in Europe, but also in the USA, South America and Japan. In the U.S. market, two more models will be added to the all-electric truck portfolio this year.
“We have a clear picture of the future of transport – and we are playing a decisive role in shaping this future,” says Martin Daum, Chairman of the Board of Management of Daimler Truck. “We are making very good progress with our transformation and we are successfully working on our profitability, as our business figures show. I am therefore very confident about the future of Daimler Truck. This applies to 2023 – and it applies even more so to 2030. We want to take advantage of the enormous opportunities that this historic transformation of our industry will bring. We are determined to take Daimler Truck to a new, next level.”
“The global Daimler Truck team is working with great determination to make the vision of sustainable transport a success in all facets. The Supervisory Board looks forward to accompanying this transformation and actively supporting the company,” adds Joe Kaeser.
Successful first year of independence
With 520,291 units sold in 2022, 14% more trucks and buses have been sold worldwide than in the same period of the previous year (455,445 units). The financial year also showed a favorable trend in earnings and return on sales. The Company recorded sales growth of 28% to €50.9 billion. Adjusted EBIT increased by 55% year-on-year to about €4.0 billion. The free cash flow of the Industrial Business increased by 12% to €1.7 billion in the reporting year (2021: €1.6 billion). Daimler Truck thus achieved its profitability and margin improvement targets for 2022. For the 2022 financial Year a dividend of €1.30 per share is proposed.
Successful start into 2023
Daimler Truck started the year 2023 with a strong business development and was able to continue its profitable growth course. The Industrial Business achieved an adjusted return on sales in the first quarter of 8.8%. The Company significantly increased Group sales by 15% year-on-year to 125,172 units in the first quarter of 2023 (Q1 2022: 109,286). As a result of continued high demand, the stabilization of global supply chains compared with the prior-year quarter, and an increase in unit sales, Group revenue rose by 25% to €13.2 billion (Q1 2022: €10.6 billion). Adjusted Group earnings before interest and taxes (adjusted EBIT) increased significantly by 78% to €1,162 million in the reporting period (Q1 2022: €651 million).
Daimler Truck Holding AG is listed in Germany’s stock market index DAX. Daimler Truck Holding AG shares are traded on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange under the stock symbol DTG. The International Securities Identification Number (ISIN) is DE000DTR0CK8, the German Securities Identification Number (WKN) DTR0CK.
SOURCE: Daimler Truck