Operational performance of Industrial Business of 10.2% - full impairment of China Joint Venture with €120 million impact leads to adj. ROS of 9.3%

Leinfelden-Echterdingen – Daimler Truck Holding AG ("Daimler Truck") discloses preliminary and unaudited results for the second quarter of 2024. Based on the persistent weak market development in China, Daimler Truck fully impaired the at-equity book value of its China Joint Venture BFDA (Beijing Foton Daimler Automotive). This had a negative one-time, non-cash impact on adj. EBIT of the segment Trucks Asia and the Industrial Business of €120 million. Excluding this one-time impact, the Q2 Industrial Business adj. ROS of 9.3% would amount to 10.2%.

Strong results in the segments Trucks North America and Daimler Buses exceeded market expectations, while the segments Mercedes-Benz and Financial Services ended the quarter below market expectations.

The full-year guidance is currently under review.

The following results for Q2 2024 are preliminary and unaudited:  

• Daimler Truck Group, EBIT: €1,076 million (consensus: €1,253 million)
• Daimler Truck Group, adj. EBIT: €1,168 million (consensus: €1,259 million)
• Industrial Business, adj. EBIT: €1,156 million (consensus: €1,205 million)
• Industrial Business, adj. ROS: 9.3 % (consensus: 9.6%)
• Industrial Business, Free Cash Flow: € -285 million (consensus: €240 million)

For the individual segments, the preliminary and unaudited results for Q2 of 2024 are as follows:

Trucks North America 

• adj. EBIT of €875 million (consensus: €765 million) 
• adj. ROS of 14.5% (consensus: 12.7%) 

Mercedes-Benz 

• adj. EBIT of €299 million (consensus: €403 million) 
• adj. ROS of 6.5% (consensus: 8.7%) 

Trucks Asia 

• adj. EBIT of € -82 million (consensus: €48 million)* 
• adj. ROS of -5.8% (consensus: 3.4%)*

*of which €120 million impact from impairment of BFDA.

Daimler Buses 

• adj. EBIT of €115 million (consensus: €78 million) 
• adj. ROS of 9.1% (consensus: 6.6%) 

Financial Services 

• adj. EBIT of €12 million (consensus: €53 million) 
• adj. ROE of 1.8%  

The full quarterly results and interim report will be published on August 1^st, 2024. 

The terms (adj.) EBIT, (adj.) ROS, (adj.) ROE and Free Cash Flow are defined from page 36 onwards in the Daimler Truck Annual Report 2023.