© Reuters. FILE PHOTO: Members of the media stand beside an electric driven Actros truck at the booth of German truckmaker Daimler Truck at the IAA Transportation fair, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer/File Photo
(Reuters) -Daimler Truck expects revenues to grow as much as 60% between 2025 and 2030, top management of the truck and bus maker told investors on Tuesday.
The company’s optimistic outlook, presented at a capital markets day in Boston, comes a year after Daimler (OTC:) Truck became an independently listed company in a spin-off from the Mercedes-Benz passenger cars, and as it focuses on building autonomous trucks.
Daimler Truch shares rose 2.5%.
“We are ready to take Daimler Truck to the next level,” CEO Martin Daum told investors.
Easing supply chain constraints and stronger demand in its core markets and the after-sales business prompted the company late on Monday to raise its profit and revenue guidance for 2023.
Among the longer-term goals spelled out on Tuesday, the company said it would target for 2030 at least 12% adjusted returns for its industrial business under favourable conditions and revenue growth of 40% to 60% from 2025 to 2030.
It expects to generate over 3 billion euros ($3.30 billion) in revenue and 1 billion euro earnings before interest and taxes from autonomous driving in 2030, it said in a statement.
Daum said he would soon announce a partnership with a battery cell producer in the United States due to incentives provided by the Biden administration’s Inflation Reduction Act, which works to boost production in the U.S.
($1 = 0.9098 euros)
