Daimler Truck : with strong business development in Q3, updating full-year guidance

• Group unit sales significantly above prior-year level: 134,972 (Q3 2021: 106,304 units)
• Significant increase in revenue: € 13.5 billion (Q3 2021: € 9.2 billion)
• Adjusted Group EBIT increases to € 1,273 million (Q3 2021: € 491 million)
• Adjusted Return on Sales in Industrial Business of 9.4 % (Q3 2021: 5.4 %)
• Continuing strong demand environment, order backlog above prior-year level
• Company raises outlook for Group revenue, Group EBIT, Industrial Business revenue and adjusted Return on Sales in the Mercedes-Benz segment

Stuttgart - Daimler Truck Holding AG ("Daimler Truck") continued its profitable growth path with a strong business development in the third quarter despite ongoing supply chain constraints and headwinds from raw material and energy prices. The company was able to increase its Group unit sales year-on-year to 134,972 units in Q3 2022 (+ 27 %, Q3 2021: 106,304 units). Supported by this increase as well as improved net pricing, favorable effects from exchange rates (FX) and higher contributions from aftersales business, Group revenue significantly rose by 47 % to € 13.5 billion (Q3 2021: € 9.2 billion). Daimler Truck sees a continued strong demand environment. The order backlog has increased compared to the prior-year level.

Group EBIT (adj.) increased by 159 % to € 1,273 million in the reporting period (Q3 2021: € 491 million). In the Industrial Business (IB), EBIT (adj.) of € 1.223 million was 158 % higher than in the same period of the prior year (€ 475 million). The adjusted Return on Sales (ROS adj.) aggregates to 9.4 % (Q3 2021: 5.4 %).

Jochen Goetz, CFO of Daimler Truck: "Daimler Truck is well on its way to making its first financial year as an independent company also a year of success. This is underlined by our strong business development in the third quarter, despite continuing challenges in the supply chain as well as in raw material and energy prices. Our year-end sprint is now all about maintaining this momentum and delivering as many ordered vehicles as possible to our customers."

Outlook 2022

Reflecting the favorable business development in Q3, Daimler Truck is now expecting its revenue on Group level to be in the range between € 50 to 52 billion in 2022. For its Industrial Business Daimler Truck is now expecting the revenue to be in the range between € 48 - 50 billion (previously € 46 - 48 billion). Regarding the sustained positive development, the company is now expecting an adjusted Return on Sales (ROS adj.) of 7 - 9 % for the Mercedes-Benz segment (previously 6 - 8 %). Accordingly, the forecast for Group EBIT is updated to "slight increase" (previously "at prior-year level"). For the Industrial Business, Daimler Truck continues to expect an adjusted Return on Sales (ROS adj.) of 7 - 9 % for the fiscal year 2022. The full-year forecasts for the other segments remain unchanged compared to the outlook from the second quarter.

Daimler Truck's outlook assumption considers that the overall macroeconomic conditions will continue to be comparatively favorable for the global demand in commercial vehicles for the remainder of 2022. The company's outlook is especially subject to the further developments in the Russia-Ukraine war and its impact on the global economy as well as the development of the very high inflationary pressure and the associated central-bank increases in interest rates. The further macroeconomic, geopolitical as well as the COVID-19 pandemic development and ongoing supply bottlenecks also harbor an exceptional degree of uncertainty. However, Daimler Truck assumes no major production downtimes due to missing parts or due to the unavailability of gas.

Key Figures - Group and Segments

Group (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Group Sales	106,304	134,972	27%	324,513	365,219	13%
Revenue	9,160	13,507	47%	28,418	36,162	27%
EBIT (adjusted)	491	1,273	159%	1,958	2,934	50%
ROS (adjusted) (Industrial Business)	5.4	9.4	-	6.7	7.9	-
Free Cash Flow (Industrial Business)	-782	592	-	649	-91	-
Incoming Orders	166,181	135,569	-18%	447,564	385,702	-14%

Trucks North America (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Unit Sales	34,604	49,171	42%	114,530	136,772	19%
Revenue	3,603	6,155	71%	11,185	15,889	42%
EBIT (adjusted)	351	738	111%	1,205	1,648	37%
ROS (adjusted)	9.7	12.0	-	10.8	10.4	-

Mercedes-Benz (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Unit Sales	31,691	42,305	33%	101,783	114,880	13%
Revenue	3,682	5,153	40%	11,788	14,338	22%
EBIT (adjusted)	114	474	316%	534	1,327	148%
ROS (adjusted)	3.1	9.2	-	4.5	9.3	-

Trucks Asia (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Unit Sales	38,072	41,535	9%	102,967	108,232	5%
Revenue	1,422	1,676	18%	4,355	4,643	7%
EBIT (adjusted)	117	43	-63%	316	104	-67%
ROS (adjusted)	8.3	2.6	-	7.2	2.2	-

Daimler Buses (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Unit Sales	4,477	6,283	40%	12,669	14,940	18%
Revenue	810	941	16%	2,043	2,439	19%
EBIT (adjusted)	6	23	304%	-53	-32	40%
ROS (adjusted)	0.7	2.5	-	-2.6	-1.3	-

Financial Services (in units, in mill. €, in percent)
	Q3 2021	Q3 2022	+/-	Q1-Q3 2021	Q1-Q3 2022	+/-
Unit Sales	1,500	2,548	70%	4,184	6,479	55%
Revenue	306	480	57%	858	1,187	38%
EBIT (adjusted)	17	50	198%	121	167	38%
ROS (adjusted)	4.0	9.6	-	10.4	11.9	-

The terms adjusted EBIT (EBIT adj.), adjusted Return on Sales (ROS adj.), adjusted Return on Equity (ROE adj.), Free Cash Flow (industrial business) are defined on page 43 of the Daimler Truck Annual Report 2021.

Additional information and documents (Interim Report, Capital Market Presentation, Factbook etc.) including a detailed Q3 disclosure on Daimler Truck's five reporting segments are available online in Daimler Truck's investor relations section: https://www.daimlertruck.com/investors/financial-calendar/disclosure/q3-2022/