Q3 2024 Daimler Truck Holding AG Earnings Call Transcript
Key Points
- Daimler Truck Holding AG (DTRUY) achieved a 10% return on sales target in 2023, marking the highest return on sales for Mercedes Benz Trucks in many years.
- The company has launched a major push to strengthen competitiveness, focusing on cost savings and efficiency improvements.
- Daimler Truck's North American segment continues to perform strongly, with a 40.1% market share in the Class 8 market.
- The Mercedes Benz E Actros 600, a battery electric truck, has received positive feedback and over 2000 firm customer orders.
- Daimler Buses reported a strong performance with a return on sales adjusted at 11.4%, indicating successful restructuring efforts.
- Daimler Truck Holding AG (DTRUY) reported a 5% decline in Q3 revenues to EUR13.1 billion and a 28% decrease in group EBIT.
- The European market remains weak, with Mercedes Benz unit sales dropping by 28%, particularly in Germany where sales are down more than 50%.
- The company's industrial business recorded a negative free cash flow of EUR41 million in Q3.
- The Asian market continues to face challenges, with a 15% decrease in unit sales due to weak demand in key markets like India and Indonesia.
- Infrastructure for electric vehicles remains a significant challenge, with only 600 public charging stations for battery-powered trucks in Europe, far below the needed 35,000 by 2030.
Good morning, ladies and gentlemen. This is Christian Herrmann speaking. On behalf of Daimler Truck, I'd like to welcome you, on both telephone and the Internet, to our Q3 results global conference call. We are very happy to have with us today, Karin Radstorm, our CEO; and Eva Scherer, our CFO. Karin and Eva will begin with an introduction directly followed by a Q&A session. The respective presentation can be found on the Daimler Truck IR website.
On our request, this conference will be recorded. The replay of the conference call will also be available as an on-demand audio webcast in the Investor Relations section of the Daimler Truck website.
I would like to remind you that this telephone conference is governed by the Safe Harbor wording you'll find in our published results documents.
Please note, our presentation contains forward-looking statements that reflect management's current views with respect to future events. Such statements are subject to many risks and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
