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Daimler Truck 2021 yield at the lower end of the forecast

FILE PHOTO: The Freightliner Trucks logo can be seen on a steering wheel in a yard in Mejicanos
FILE PHOTO: The Freightliner Trucks logo is seen on a steering wheel in a yard in Mejicanos, El Salvador August 16, 2018. REUTERS/Jose Cabezas

March 24, 2022

BERLIN (Reuters) – Daimler Truck reported an adjusted return on sales of 6.1% for 2021, recovering from its losses in 2020 but still on the lower end of its guidance as raw material prices and supply chain issues weighed on the company, the company said on Thursday with

Returns were strongest in North America, where the truckmaker has a third market share at 9.2%, Trucks Asia at 7.2% and Europe at 4.8% lowest.

Supply shortages slowed growth in the second half of the year, Daimler Truck said, adding that semiconductor shortages and other supply issues would hurt sales in the first half of this year.

However, it does not expect the COVID-19 pandemic or the war in Ukraine to have a negative impact on overall market developments for the company, it said, adding that its supply chains would not be significantly affected by the war.

The company expects revenue to rise to €45.5 billion to €47.5 billion this year, resulting in an adjusted operating margin of 7% to 9%.

($1 = 0.9108 euros)

(Reporting by Victoria Waldersee; Editing by Miranda Murray and Emma Thomasson)

https://www.oann.com/daimler-truck-sees-6-1-returns-expects-supply-troubles-in-h1/?utm_source=rss&utm_medium=rss&utm_campaign=daimler-truck-sees-6-1-returns-expects-supply-troubles-in-h1 Daimler Truck 2021 yield at the lower end of the forecast

DUSTIN JONES

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