Daimler Buses reported 55% sales growth in Q1 2023 (over 5.5K buses sold)

Daimler Truck has reported a strong start to 2023, with unit sales and revenue significantly above the prior year’s quarter. In Q1 2023, the company sold 125,172 units, a 15% increase from the same period last year, while revenue rose by 25% to €13.2 billion. The bus business is delivering a particularly strong growth: 55% increase in units sold by Daimler Buses, from 3,582 to 5,570 (with +52% revenue).

Daimler Truck grows

At the group’s level, adjusted EBIT increased by 78% to €1,162 million in the reporting period, while adjusted EBIT of the Industrial Business was €1,110 million, 84% higher than in the same period of the previous year. Net profit was €795 million, significantly above the prior-year’s quarter of €275 million. Free cash flow of the Industrial Business rose by 129% to €168 million compared to the same period of the previous year.

Jochen Goetz, CFO of Daimler Truck, expressed his satisfaction with the results, stating that the company has set the goal to continue its profitable growth in 2023, and it started strong and is on track. The continued high demand for the company’s trucks, buses, and services is a good foundation to keep the positive momentum for the coming quarters.