March 10th, 2023
• Successful first year as a listed company: Daimler
Truck achieved financial targets for 2022 despite adverse supply chain
conditions
• Demand environment remains strong: Incoming orders and
order backlog at high levels
• Bottlenecks in the supply chains slowed further growth
in 2022
• Strong improvement of adjusted EBIT by 55% to €3,959
million (2021: €2,552 million), revenue significantly increased by 28% to €50.9
billion (2021: €39.8 billion) due to strong demand for products and strong net
pricing
• Adjusted return on sales (ROS) of the Industrial
Business significantly increased to 7.7% (2021: 6.1%), free cash flow of the
Industrial Business of €1,746 million
(2021: €1,556 million); earnings per share (EPS) of €3.24 (2021: €2.85)
• First dividend as independent company: Proposal of
€1.30 per share
• Positive outlook for 2023: Daimler Truck expects
further increase of revenue, adjusted EBIT and free cash flow of the Industrial
Business; sales volume on similar level as 2022
Stuttgart/Leinfelden-Echterdingen
– In its first full year as a listed company, Daimler Truck Holding AG (Daimler
Truck) has successfully delivered on strategic ambitions - leading sustainable
transportation and improving the overall profitability. The Group achieved its
financial targets for 2022 and is positive for 2023 despite supply chain
constraints and inflationary cost pressure. Daimler Truck benefitted from a
robust demand in its key commercial vehicle markets and increased its unit
sales, revenue, EBIT (Earnings before Interests and Taxes), industrial free
cash flow and earnings per share. With 520,300 units,
14% more trucks and buses
have been sold worldwide in 2022 compared to prior-year level (455,400 units) –
underlining Daimler Truck's strong market position. While demand continued to
be strong across core markets with order intake and order backlog remaining at
Daimler Truck Holding AG
Domicile and Court of Registry: Stuttgart, Commercial
Register No.: 762884
Chairman of the Supervisory Board: Joe Kaeser
Board of Management: Martin Daum, Chairman;
Karl Deppen,
Jochen Goetz, Andreas Gorbach, Jürgen Hartwig, John O’Leary, Karin Rådström,
Stephan Unger Daimler Truck AG
Fasanenweg 10
70771 Leinfelden-Echterdingen
Phone +49 711 8485-0 Fax +49 711 8485-0 contact@daimlertruck.com
www.daimlertruck.com
high
levels, bottlenecks in the supply chains continued to impact production.
Supported by the significant growth in unit sales, strong net pricing,
favorable exchange rates and a positive development of the services business,
the Group’s revenue increased to €50.9 billion in 2022 (+28% compared to
previous year: €39.8 billion).
2022 also
showed a favorable development for earnings and return on sales. The adjusted
EBIT rose
by 55% to €3,959 million (2021: €2,552 million), the adjusted ROS of the
Industrial Business was at 7.7% in 2022 (2021: 6.1%). Daimler Truck’s free cash
flow of the Industrial Business increased by 12% to €1,746 million in the
reporting year (2021: €1,556 million).
Earnings
per share (EPS) amounted to €3.24, up 14% compared to 2021. All in all, Daimler
Truck delivered on the targets for 2022 for profitability and margin
improvement despite headwinds due to supply chain bottlenecks.
Successful first year as a listed company
Daimler
Truck made significant strategic progress across many areas during its first
year as a listed company. Against the ambition to lead in sustainable
transportation, a series of new products and services have been introduced.
Several new zero emission vehicles (ZEV) were launched: The electric
Freightliner eCascadia started into series production in North America as well
as the Mercedes-Benz eEconic in Germany. At the IAA Transportation 2022, the
battery-electric Mercedes-Benz eActros LongHaul won the prestigious “2023 Truck
Innovation Award”. The series-production eActros LongHaul will have a range of
around 500 kilometers on a single battery charge and will be capable of
high-performance charging. Daimler Truck subsidiary Mitsubishi Fuso Truck and
Bus Corporation (FUSO) unveiled the battery-electric Next-Generation FUSO
eCanter both in Japan and Europe.
New
products were also launched to service large profit pools: The next generation
of the Setra TopClass and ComfortClass, the new Mercedes-Benz Tourrider, a
touring coach specially developed for the North American market, and Daimler
Truck North America’s all-new Western Star 57X long-haul truck. Daimler Truck
also announced restructuring programs for both its Mercedes-Benz segment in
Brazil and the Daimler Buses segment, underlying the importance for self-help
measures to achieve profitability improvements by 2025. Daimler Truck also
announced innovative partnerships including with high-tech machinery
manufacturer Manz as well as infrastructure joint ventures in the two core
regions of North America and Europe for battery-electric and hydrogen-powered
commercial vehicles. Financial Services continued its ramp-up: The segment
launched business operations in eight further countries and was active in 15
markets at year end. Daimler Truck successfully issued several bonds at the
capital market, supporting the growth of Financial Services.
Martin
Daum, Chairman of the Board of Management of Daimler Truck comments: "2022
was a very special year for us, a challenging year in many ways - yet above all
a successful first year for Daimler Truck as an independent listed company. Our
strong results show that we managed our environment very well, be it the impact
of Russia-Ukraine war, ongoing supply chain constraints or high inflation. We
have made strong progress towards unlocking our profit potential, and we have
also made further important steps regarding our ambition to lead sustainable
transportation and to tackle climate change.”
Dividend
For the
2022 financial year, the Board of Management and the Supervisory Board of
Daimler Truck Holding AG will propose to the Annual General Meeting on 21 June
2023 a dividend payment of €1.30 per share.
Group Outlook for 2023
Despite
ongoing difficult economic conditions in 2023, high energy prices and tension
in some supply chains, Daimler Truck expects a robust development in important
commercial vehicles sales markets. Reflecting the two major regions North
America and Europe, the Group’s guidance estimates both heavy-duty truck
markets in North America and Europe to amount between 280,000 and 320,000
units. Daimler Truck anticipates unit sales in 2023 in a range between 510,000
and 530,000 units.
The Group
expects a significant increase of its revenue, ranging between €53 billion and
€55 billion in the Industrial Business and between €55 billion and €57 billion
on Group level. Daimler Truck is further expecting a significant increase of
its adjusted EBIT. The adjusted ROS of the Industrial Business is anticipated
to range between 7.5% and 9%. Daimler Truck expects the free cash flow of the
Industrial Business to be higher in 2023 compared to the previous year.
Jochen
Goetz, CFO of Daimler Truck: “With an adjusted EBIT of €4.0 billion we took a
major step forward in a challenging market environment with supply constraints
and inflation, achieving a record level of EBIT for the Group. We were also
able to continue our strong cash conversion. We want to pay our first dividend
and establish an attractive capital allocation policy. We are on a journey to
benchmark profitability, but there is still a way to go, especially on costs
given the inflationary pressures. Our outlook shows that we will continue our
selfhelp measures to improve our financials.”
Key Figures – Group and Segments
|
|
Key Figures - Group
|
Q4 Q4 +/- 2022 2021 |
FY 2022 |
FY
+/- 2021 |
|
|||||||||||||||||||
|
|
Unit Sales |
155,072
14,783
1,025
7.0
1,836
137,135
|
130,932
+18% |
520,291
50,945
3,959
7.7
1,746
522,837
3.24
|
455,445
+14% |
|
||||||||||||||||||
|
Revenue* |
11,345
+30% |
39,764
+28% |
||||||||||||||||||||||
|
Adjusted EBIT* |
594 +73% |
2,552
+55% |
||||||||||||||||||||||
|
Adjusted ROS (IB)** |
4.7 |
6.1 |
||||||||||||||||||||||
|
Free Cash Flow (IB)* |
907
+102% |
1,556
+12% |
||||||||||||||||||||||
|
Incoming Orders |
142,418
-4% |
589,982
|
-11%
|
|||||||||||||||||||||
|
Earnings per Share (EPS)
in € |
|
2.85
+14% |
||||||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
Key Figures - Segments
|
Q4 Q4 +/- 2022 2021 |
FY 2022 |
FY
+/- 2021 |
|
|||||||||||||||||||
|
|
Revenue*
Adjusted ROS** |
|
186,779
22,039
2,379
10.8
|
9.2 |
|
|||||||||||||||||||
|
Mercedes-Benz
Revenue*
Adjusted ROS** |
|
166,369
20,213
1,629
8.1
|
4.8 |
|||||||||||||||||||||
|
Trucks Asia
Revenue*
Adjusted ROS** |
|
155,967
6,499
171
2.6
|
7.2 |
|||||||||||||||||||||
|
Daimler Buses
Revenue*
Adjusted ROS** |
|
24,041
3,689
14
0.4
|
-2.4 |
|||||||||||||||||||||
|
Financial Services
Revenue*
Adjusted Return on equity** *in millions of € **in percent |
2,949
1,584 +86% 572 265 +116% 26 72 -64%
|
1,759
193
9.9
|
12.4
|
|||||||||||||||||||||
Additional
information and documents (Annual Report incl. Sustainability Report, Capital
Market Presentation, Factbook etc.) including a detailed full-year 2022 disclosure on Daimler Truck’s five reporting segments are available online in Daimler Truck’s investor relations section on the website:
https://www.daimlertruck.com/en/investors/arc23-press
Dailer
Truck Holding AG is listed in Germany's stock market index DAX. Daimler Truck
Holding AG
shares are traded on the Regulated Market (Prime Standard) of the Frankfurt
Stock
Exchange under the stock symbol DTG. The International Securities
Identification Number (ISIN) is DE000DTR0CK8, the German Securities
Identification Number (WKN) DTR0CK.
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