(CercleFinance.com) – Daimler Truck climbed more than 12% on Friday on the Frankfurt Stock Exchange after publishing quarterly results well above expectations and revealing prospects beyond market forecasts.
In the fourth quarter, its adjusted earnings before interest and taxes (Ebit) climbed 52% to 1.56 billion euros, a figure higher than the 1.41 billion euros expected by analysts.
Over the entire 2023 financial year, adjusted EBIT increased by 39% to reach a ‘record’ level of 5.49 billion euros, with an operating margin of 9.9% in the industry.
Due to the current difficult economic environment and the normalization of the heavy-duty truck market, Daimler Truck said it is targeting adjusted EBITDA at the same level as last year for 2024.
Concerning the adjusted operating margin of its industrial activity, Daimler says it anticipates a range between 9% and 10.5%, again higher than the market consensus which was established at 8.8%.
The dividend paid for the 2023 financial year will also increase to 1.90 euros per share, compared to 1.30 euros in 2022.
Around 9:30 a.m., the truck manufacturer’s stock soared 12.1%, marking the best performance in the German DAX index and one of the strongest gains in the pan-European STOXX 600 index.
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