Daimler Truck 2021 Revenue Rose; Expects Increase in Sales
24 März 2022 - 8:40AM
Dow Jones News
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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