Q3 2024 Traton SE Earnings Call Transcript
Key Points
- Traton SE (TRATF) reported a 5% increase in Q3 delivery volumes, reaching 85,274 vehicle sales, driven by a catch-up in international deliveries.
- The company achieved a strong net cash inflow of EUR1.3 billion in Q3, indicating robust cash flow generation.
- Sales revenue grew by 5% in Q3, reaching nearly EUR12 billion, supported by a favorable regional price and product mix, especially at the Scania brand.
- Return on sales improved to 9.6% in Q3, with International achieving a 10.7% adjusted return on sales after resolving supply chain issues.
- Order intake showed stability compared to last year's Q3 and increased by 9% sequentially, reflecting positive momentum in key markets like South America.
- MAN faced challenges due to weak demand in Europe, particularly in Germany, leading to a drop in its return on sales to 5.6% in Q3.
- The company experienced a minor drop in deliveries of battery electric vehicles, attributed to underdeveloped infrastructure and regulatory challenges.
- Traton SE (TRATF) anticipates its full-year net cash flow to be closer to the lower end of the EUR2.3 billion to EUR2.8 billion range due to higher working capital and capital expenditures.
- The European market remains challenging, with a forecasted decline of 5% to 10% for the full year, impacting overall sales performance.
- The company is cautious about maintaining its Q3 peak margins in the upcoming quarters due to market uncertainties and supply chain challenges.
Good morning, everyone and welcome to Traton's third quarter.
I'll start again. Good morning everyone and welcome to Traton's third quarter 2024 earnings call.
My name is Ursula Querette and I'm Head of Investor Relations at Traton SE. With me on the call today are Christian Levin, our CEO and Dr. Michael Jackstein, our CFO and CHrO.
Christian will kick off the presentation with the key results and highlights of the third quarter, and Michael will guide you through the financial performance and outlook in more detail.
As always, we will conclude the call with a Q&A session where we welcome questions from financial analysts, investors and media representatives to handle potential media inquiries during the Q&A session, Camilla Dewoon, our head of corporate relations is also present.
This session will be recorded and a replay will be made available on our investor relations website as soon as possible, after this call.
You can also find our nine month 2024 interim statement which we
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