Daimler Truck maintains favourable outlook for 2022

BERLIN (Reuters) – Daimler Truck maintains that 2022 will be a favourable year thanks to strong demand and the easing of supply bottlenecks, even with the Ukraine war taken into account.

The truckmaker still expects to make between 500,000 and 520,000 vehicles this year as previously forecast, and expects a significant increase in its adjusted earnings before interest and amortization (EBIT), it said.

However, while the outlook takes the known effects of the war into account, it is subject to further development of the war and its impact on the global economy, Daimler Truck said on Wednesday in a statement on its first annual general meeting.

Chief Executive Martin Daum said he was well aware of the recent increase in external risks.

“At Daimler Truck, we are currently in an exceptional situation in which we can cushion a moderate economic downturn: We recently could deliver fewer vehicles to our customers than they actually wanted to buy,” Daum said according to a copy of his speech.

(Reporting by Ilona Wissenbach, Writing by Miranda Murray, Editing by Paul Carrel)