Daimler Truck jumped 7.81% to 25.88 euros per share on the Frankfurt market, in the wake of solid results for 2021 and a favorable outlook for 2022. Despite headwinds, the German truck and coach manufacturer has achieved its goals last year. The group thus recorded an adjusted Ebit of 2.55 billion euros, against 657 million euros in 2020. For its part, turnover came out at 39.8 billion euros, up 10% over one year. In total, the number of trucks and coaches sunk increased by 20% to 455,400 units.
Regarding 2022, the group listed on the stock market at the end of 2021 is aiming for a turnover of between 45.5 and 47.5 billion euros (consensus 44.3 billion euros) and a “significant” increase in its adjusted Ebit.
Daimler Truck believes that the war in Ukraine will not significantly impact its supply chains.
At the same time, he expects the chip shortage to continue to weigh on production and sales, especially in the first half.
Given these results, Stifel confirmed its Buy recommendation and its target price of 48 euros on the stock.