Despite temporary factors, Daimler reaffirms its forecast for the full year profit at its truck division.
“High investments in our product offensive and the switch from Euro III to Euro V in Brazil caused the operating profit to drop slightly from last year’s level. Both of these factors will also affect our results in the second quarter,” said Daimler Trucks Chief Andreas Renschler.
He also added that although the commercial vehicles market was very confusing in the first half of 2012 and the Euro V emissions norm will only imply stricter pollution limits on trucks, the second half of 2012 would improve increasingly. He expects sales of truck to be higher compared to last year and the operating profit to be at least the same as the one in 2011. In 2011 Daimler Trucks sold 426,000 units, which translates in 1.88 billion euro ($2.39 billion) earnings before interest and tax, and a 6.5% operating margin.
Last week Daimler Trucks and Kamaz signed a licensing agreement intensifying their strategic partnership established in 2008. The collaboration will focus on the production of trucks cabs, Mercedes-Benz supplying Axor cabs to Kamaz which will be incorporated into its new generation of trucks in 2013.