© Reuters. FILE PHOTO: Members of the media stand next to an electric Actros truck at the stand of German truck manufacturer Daimler Truck at the IAA Transportation trade fair, which opens its doors to the public on September 20, 2022 in Hannover, Germany, on September 19, 2020.
BERLIN (Reuters) – Daimler (OTC:) Truck will pay its first dividend of 1.30 euros ($1.38) a share after reaching its 2022 targets and expects higher earnings and revenue this year despite continued bottlenecks in the supply chain, the company said Friday.
Adjusted earnings before interest and tax (EBIT) increased 55% to €3.9bn in 2022 on a 28% increase in revenue, with an adjusted return of 7.7%.
Looking ahead, the truck and bus maker expects sales on par with 2022 this year, but an increase in group revenue to €55-57bn and adjusted returns of 7.5-7.9%, which which indicates that prices will continue to rise.
Daimler Truck raised its outlook for profit and revenue for the year in October to a stronger-than-expected third quarter, having previously said it felt less of an impact from the war in Ukraine on its supply chains than some competitors.
Still, its Asia business suffered in 2022, partly due to lockdowns in China, with adjusted profits falling 60%.
Europe experienced the largest profit increase with 112% on an 18% increase in unit sales.
($1 = 0.9446 euros)
