Author Topic: Preliminary results for Q3 2022 above expectations, updated guidance for the ful  (Read 162 times)

Offline fasteddy

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Oct 26, 2022
Stuttgart

Daimler Truck recorded a strong business performance in the third quarter of the 2022 financial year. The significant increase in unit sales in combination with good price realization and a strong aftersales business resulted in the Daimler Truck Group's adjusted EBIT (EBIT adj.) and adjusted Return on Sales (ROS adj.) for the Industrial Business being significantly above market expectations for the third quarter. The Mercedes-Benz segment made a significant contribution to this.

The following results for Q3 2022 are preliminary and unaudited:

    Daimler Truck Group EBIT adj.: 1,273 million (Q3 2021: 491 million, increase of 159 %), consensus: 1,081 million.
    Adjusted EBIT for the industrial business: 1,223 million (Q3 2021: 475 million, increase of 158 %), consensus: 1,029 million; adjusted Return on Sales (ROS adj.) for the Industrial Business: 9.4 % (Q3 2021: 5.4 %), consensus: 8.0 %.
    Industrial Free Cash Flow: 592 million (Q3 2021: -782 million), consensus: 654 million.

For the individual segments, the preliminary and unaudited results for Q3 of 2022 are as follows:

Trucks North America

    EBIT adj. of 738 million (Q3 2021: 351 million), increase of 111 %, consensus: 660 million
    ROS adj. 12.0 % (Q3 2021: 9.7 %), consensus: 11.8 %

Mercedes-Benz

    EBIT adj. of 474 million (Q3 2021: 114 million, increase of 316 %), consensus: 385 million
    ROS adj. 9.2 % (Q3 2021: 3.1 %), consensus: 7.3 %

Trucks Asia

    EBIT adj. of 43 million (Q3 2021: 117 million, decrease of -63 %), consensus: 44 million
    ROS adj. 2.6 % (Q3 2021: 8.3 %), consensus: 2.7 %

Daimler Buses

    EBIT adj. of 23 million (Q3 2021: 6 million, increase of 304 %), consensus: 14 million
    ROS adj. 2.5 % (Q3 2021: 0.7 %), consensus: 1.3 %

Daimler Truck Financial Services

    EBIT adj. of 50 million (Q3 2021: 17 million, increase of 198 %), consensus: 52 million

In view of the sustained positive development, an adjusted Return on Sales (ROS adj.) of 7 9 % is expected for the Mercedes-Benz segment in 2022 (previously 6 8 %). The full-year forecasts for the other segments remain unchanged.

Accordingly, the forecast for Group EBIT is updated to "slight increase" (previously"at prior-year level"). For the Industrial Business, Daimler Truck continues to expect an adjusted Return on Sales (ROS adj.) of 7 9 % for the fiscal year 2022.

In addition, the full-year outlook for the following key figures is updated:

    Daimler Truck Group revenue: 50 - 52 billion (previously 48 - 50 billion)
    Industrial Business revenue: 48 - 50 billion (previously 46 - 48 billion)

The terms EBIT (adj.), ROS (adj.) and Free Cashflow (FCF) are defined in the Daimler Truck Annual Report 2021 on page 43.