Preliminary results for Q2 2024: Operational performance of Industrial Business of 10.2% - full impairment of China Joint Venture with €120 million impact leads to adj. ROS of 9.3%
July 16, 2024 at 02:07 pm EDT
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EQS-Ad-hoc: Daimler Truck Holding AG / Key word(s): Quarter Results/Preliminary Results
preliminary results for Q2 2024: Operational performance of Industrial Business of 10.2% - full impairment of China Joint Venture with €120 million impact leads to adj. ROS of 9.3%
16-Jul-2024 / 20:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Leinfelden-Echterdingen – Daimler Truck Holding AG ("Daimler Truck") discloses preliminary and unaudited results for the second quarter of 2024. Based on the persistent weak market development in China, Daimler Truck fully impaired the at-equity book value of its China Joint Venture BFDA (Beijing Foton Daimler Automotive). This had a negative one-time, non-cash impact on adj. EBIT of the segment Trucks Asia and the Industrial Business of €120 million. Excluding this one-time impact, the Q2 Industrial Business adj. ROS of 9.3% would amount to 10.2%.
Strong results in the segments Trucks North America and Daimler Buses exceeded market expectations, while the segments Mercedes-Benz and Financial Services ended the quarter below market expectations.
The full-year guidance is currently under review.
The following results for Q2 2024 are preliminary and unaudited:
Daimler Truck Group, EBIT: €1,076 million (consensus: €1,253 million)
Daimler Truck Group, adj. EBIT: €1,168 million (consensus: €1,259 million)
Industrial Business, adj. EBIT: €1,156 million (consensus: €1,205 million)
For the individual segments, the preliminary and unaudited results for Q2 of 2024 are as follows:
Trucks North America
adj. EBIT of €875 million (consensus: €765 million)
adj. ROS of 14.5% (consensus: 12.7%)
Mercedes-Benz
adj. EBIT of €299 million (consensus: €403 million)
adj. ROS of 6.5% (consensus: 8.7%)
Trucks Asia
adj. EBIT of € -82 million (consensus: €48 million)*
adj. ROS of -5.8% (consensus: 3.4%)*
*of which €120 million impact from impairment of BFDA.
Daimler Buses
adj. EBIT of €115 million (consensus: €78 million)
adj. ROS of 9.1% (consensus: 6.6%)
Financial Services
adj. EBIT of €12 million (consensus: €53 million)
adj. ROE of 1.8%
The full quarterly results and interim report will be published on August 1st, 2024.
The terms (adj.) EBIT, (adj.) ROS, (adj.) ROE and Free Cash Flow are defined from page 36 onwards in the Daimler Truck Annual Report 2023.
End of Inside Information
16-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
Daimler Truck Holding AG
Fasanenweg 10
70771 Leinfelden-Echterdingen
Germany
E-mail:
IR@daimlertruck.com
Internet:
www.daimlertruck.com
ISIN:
DE000DTR0CK8
WKN:
DTR0CK
Indices:
DAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Daimler Truck Holding AG is specialized in designing, manufacturing and marketing trucks and buses. The business activity is structured around 4 areas:
- medium and heavy truck sales: Mercedes-Benz, Fuso, Freightliner, Western Star and BharatBenz brands;
- bus and coach sales: Thomas Built, Fuso, BharatBenz, Mercedes-Benz and Setra brands;
- bus chassis sales: Thomas Built and Mercedes-Benz brands.
- financial services: financing, leasing, insurance brokerage, etc.
In addition, the group owns 50% of BFDA, a company specialized in manufacturing trucks under the Auman brand.
Net sales are distributed geographically as follows: Germany (12.2%), Europe (20.7%), the United States (35.9%), North America (8.2%), Japan (6.1%), Asia (6.7%), Latin America (6.3%) and other (3.9%).
Preliminary results for Q2 2024: Operational performance of Industrial Business of 10.2% - full impairment of China Joint Venture with €120 million impact leads to adj. ROS of 9.3%
DAIMLER TRUCK HOLDING AG 
