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Benzinga

Business

Shivani Kumaresan

Daimler Truck Clocks 17% Revenue Growth In Q1 Aided By Strong Demand Situation

Daimler Daimler Truck Russia Ukraine

Daimler Truck Holding (OTC:DTRUY) group revenue for Q1 rose by 17% to €10.6 billion versus €9.0 billion last year. The company said it benefitted from strong demand despite ongoing supply bottlenecks.
Group unit sales rose significantly to 109,000 units, up 8% Y/Y.
"Optimized semiconductor allocation and adjusted net pricing proved to be efficient actions to countermeasure chip shortages and headwinds from raw material prices," said CFO Jochen Goetz.
Daimler expects FY22 sales of 500,000 – 520,000 and raised its FY22 revenue outlook to €48.0 billion - €50.0 billion from €45.5 billion - €47.5 billion.
Following the outbreak of Russia's war against Ukraine, Daimler Truck decided on February 27th, 2022, to suspend all business activities in Russia.
Price Action: DTRUY shares closed lower by 0.21% at $14.24 on Monday.
Photo Via Wikimedia Commons

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