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Benzinga
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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