Daimler Truck Holding announced earnings for the first quarter fell, despite higher revenue, and backed its year-over-year estimates.
The German carmaker said net profit for the quarter was 257 million euros, down from 1.43 billion euros a year ago.
The company recorded war-related losses in Ukraine of 170 million euros in the quarter.
Adjusted earnings before interest and taxes for the quarter rose 11% to € 651 million, while revenue rose 17% to € 10.55 billion, backed by Trucks North America and Mercedes-Benz.
For 2022, DaimlerTruck continues to expect sales performance adjusted for industrial activity, between 7% -9%, compared to 6.1% in 2021.
It upgraded the estimates for the revenue of the year, to 48-50 billion Euros compared to the previous estimate for 45.5-47.5 billion Euros.
“We remain fully committed to the ambitions we have set for 2025, and we feel confident that we will achieve our goals for 2022,” said the company’s chief financial officer.
Source: Capital
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