Daimler Truck to List in Frankfurt in December
11 November 2021 - 2:56PM
Dow Jones News
By Kim Richters
Daimler Truck AG on Thursday unveiled more details about its
spinoff, saying it plans to list on the Frankfurt stock exchange on
Dec 10.
At its capital market day, Daimler's commercial-vehicles
operations also backed its target for adjusted return on sales for
the industrial business of more than 10% by 2025 if market
conditions are strong. For this year, Daimler Truck targets a
margin of 6%-8% and 7%-9% for 2022.
Fixed costs should be down 15% by 2023 compared with 2019, the
company said.
In October, Daimler shareholders approved the plans to spin off
the trucks-and-buses operations from Daimler AG. The remaining
company, focused on cars and vans in the luxury and premium
segment, will then be named Mercedes-Benz Group AG next year.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 11, 2021 08:41 ET (13:41 GMT)
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