By Giulia Petroni 
 

Daimler Truck Holding AG on Thursday said it met its targets for 2021 boosted by market recovery and cost measures, and expects sales to increase in the current year despite supply-chain bottlenecks.

The German commercial-vehicles maker said full-year revenue came in at 39.8 billion euros ($43.8 billion), a 10% increase from a year earlier. Incoming orders in the industrial business increased 37% to 590,000 units driven by strong demand across segments, it said.

Adjusted earnings before interest and taxes were EUR2.55 billion, compared with EUR657 million, while the adjusted return on sales of the industrial business was at 6.1%, it said.

The company said it delivered on its cost reduction and margin improvement targets, though its truck portfolio in Europe and North America was affected by supply-chain constraints.

Looking at 2022, Daimler Truck said it doesn't expect its supply chains to be significantly affected by the war in Ukraine, thought it expects bottlenecks in the semiconductor industry to continue to negatively affect sales, mainly in the first half.

The company expects revenue in the range of EUR45.5 billion to EUR47.5 billion and a significant increase in adjusted EBIT in the current year.

For its industrial business, it anticipates an increase in unit sales to a range of between 500,000 and 520,000 units. The return on sales adjusted for the industrial business is seen at between 7% and 9%, the company said.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

March 24, 2022 03:25 ET (07:25 GMT)

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