Daimler Truck must make a write-down of over 180 million euros in the third quarter.

10/30/2024, 11:01 AM

Daimler Truck records a one-time impairment of over 180 million euros in the third quarter of 2024 due to uncertain developments in the China business.

Eulerpool News Oct 30, 2024, 11:01 AM

The commercial vehicle manufacturer Daimler Truck recorded a negative adjustment on receivables amounting to over 180 million euros in the third quarter of 2024. This measure is related to ongoing discussions about the future of the company's China business, as the company announced on Tuesday evening.

The write-down is a one-time, extraordinary, and cash-effective adjusted special effect, Daimler Truck emphasized. "This has no impact on the company's operational development, particularly not on the adjusted EBIT or the adjusted return on sales," stated a spokesperson for the group.

Despite the negative write-down, the other forecast-relevant third-quarter figures remain preliminary and unaudited. They are not subject to ad-hoc disclosure requirements and will be published along with the rest of the third-quarter figures on November 7th.

The announcement led to a positive reaction from investors in after-hours trading on Tradegate. The Daimler Truck share rose temporarily by 1.05 percent, reaching a price of 38.66 euros.

Analysts see the write-down as a sign of uncertainties in the China market but emphasize the company's solid operational performance. Daimler Truck's long-term strategy to strengthen its global market position remains unchanged, despite short-term challenges in key regions.

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