Daimler Truck Shares Climb After 2021 Results, Bullish Outlook
March 24 2022 - 4:55AM
Dow Jones News
By Giulia Petroni and Cristina Roca
Shares in Daimler Truck Holding AG traded sharply higher
Thursday after the company said that it met its targets for 2021
boosted by market recovery and cost measures, and that it expects
sales to grow this year despite supply-chain bottlenecks.
At 0815 GMT, Daimler Truck shares were trading 6.3% higher at
EUR25.52.
The German commercial-vehicles maker said full-year revenue for
2021 came in at 39.8 billion euros ($43.8 billion), a 10% increase
from a year earlier. Incoming orders in the industrial business
increased 37% to 590,000 units, driven by strong demand across
segments, it said.
Although its truck portfolio in Europe and North America was
affected by supply-chain constraints, Daimler Truck said it
delivered on its cost-cutting and margin-improvement targets.
Looking at the year ahead, Daimler Truck said it doesn't expect
its supply chains to be significantly affected by the war in
Ukraine, though it expects bottlenecks in the semiconductor
industry to continue to hurt sales, mainly in the first half.
The company expects revenue for the year in the range of EUR45.5
billion to EUR47.5 billion and a significant increase in adjusted
earnings before interest and tax in the current year.
Daimler Truck's guidance looks bullish, Citi analysts said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 24, 2022 04:40 ET (08:40 GMT)
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