Daimler Truck successful also in Q3 2023

Itumeleng Garebatshabe
By Itumeleng Garebatshabe 302 Views 6 Min Read
6 Min Read
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  • Increase in revenue: €13.9 billion (Q3 2022: €13.5 billion)
  • Adjusted EBIT increased to €1.34 billion (Q3 2022: €1.27 billion)
  • Adjusted return on sales (ROS) Industrial Business increased to 9.8% (Q3 2022: 9.4%)
  • Slight unit sales decrease to 128,861 units (Q3 2022: 134,972)
  • Net profit stable at €957 million (Q3 2022: €990 million)
  • Free cash flow of the Industrial Business significantly increased to €1,088 million (Q3 2022: €592 million)

Daimler Truck Holding AG (Daimler Truck) continues its course towards sustainable growth and higher, more resilient profitability. Despite a slight decline in sales volumes mainly due to supplier bottlenecks, operating profit for the third quarter increased. The Group’s revenue rose to €13.9 billion (Q3 2022: €13.5 billion). Adjusted Group EBIT increased to €1.34 billion in the reporting period (Q3 2022: €1.27 billion). In the Industrial Business (IB), adjusted EBIT of €1.295 billion was higher than in the same period of the previous year (Q3 2022: €1.223 billion).

In Q3 2023, the Group’s global sales totaled 128,861 units (Q3 2022: 134,972). Overall, Daimler Truck sold 385,921 units from the beginning of the year to September and is thus higher than previous year’s sales (YTD Sept) (YTD Sept 2022: 365,219). At €957 million, net income was slightly down on the prior-year quarter of €990 million, which was positively influenced by a one-time extraordinary low tax rate. With €1,088 million, free cash flow of the Industrial Business was significantly above previous year (Q3 2022: 592 million).

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Adjusted return on sales at Daimler Truck’s industrial business increased year-on-year to 9.8% (Q3 2022: 9.4%). Earnings per share amounted to €1.13 (Q3 2022: €1.17).

Martin Daum, CEO of Daimler Truck: “Our results in the 3rd quarter show: We stay on track for success in 2023 as planned. Daimler Truck again increased its revenue and EBIT and shows good profitability. Despite a volatile environment, we confirm our forecast for the full year 2023 and expect record earnings for Daimler Truck. At the same time, we keep on working consistently on the issue of cost efficiency and thus improve the resilience of our company in order to be able to achieve excellent results in the coming years as well.”

Key Figures – Group and Segments

 Q3 2023Q3 2022+/-YTD 2023YTD 2022+/-
Unit Sales128,861134,972-5%385,921365,2196%
EBIT (adjusted)1,3401,2735%3,9302,93434%
ROS (adjusted, IB)
Free Cash Flow (IB)1,08859284%1,638-91
Incoming Orders99,070135,569-27%318,941385,702-17%
Earnings per share (EPS) in €1.131.17-3%


Trucks North America
 Q3 2023Q3 2022+/-YTD 2023YTD 2022+/-
Unit Sales47,24949,171-4%146,758136,7727%
EBIT (adjusted)711738-4%2,1691,64832%
ROS (adjusted)12.412.012.410.4
 Q3 2023Q3 2022+/-YTD 2023YTD 2022+/-
Unit Sales40,07742,305-5%113,805114,880-1%
EBIT (adjusted)53547413%1,5201,32715%
ROS (adjusted)
Trucks Asia
 Q3 2023Q3 2022+/-YTD 2023YTD 2022+/-
Unit Sales38,05241,535-8%118.359108.2329%
EBIT (adjusted)45433%216104107%
ROS (adjusted)
Daimler Buses
 Q3 2023Q3 2022+/-YTD 2023YTD 2022+/-
Unit Sales6,7896,2838%18,54014,94024%
EBIT (adjusted)7023202%112-32
ROS (adjusted)
Financial Services
 Q3 2023Q3 2022+/-YTD 2023YTD
New Business3,1412,54823%8,0486,47924%
EBIT (adjusted)4550-9%161167-3%
Return on equity (adjusted)

Outlook 2023

Daimler Truck confirms its overall guidance for the 2023 financial year: The company expects the adjusted ROS for the Industrial Business to be in a range of 8.5-10%. Adjusted ROS for the segment Trucks North America is expected to be in a range of 11-13%. For the Mercedes-Benz segment, the Group expects an adjusted ROS between 8-10%. Trucks Asia is expected to reach an adjusted ROS between 4-6%. For Daimler Buses the adjusted ROS target corridor is between 3-5%.

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Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast