Daimler Truck Holding Ag · XETR:DTG
Daimler Truck — FY2025 Earnings Presentation
36 slides from Daimler Truck's earnings presentation, Mar 12, 2026
Slide 1: FY 2025 Annual Results Conference
FY 2025 Annual Results Conference March 12, 2026 Karin Rådström, CEO ISIN: DE 000 DTR0CK8 Bloomberg Ticker: DTG:GR WKN: DTR0CK Reuters Ticker: DTGGe.DE Eva Scherer, CFO ADR Program Symbol: DTRUY
Slide 2: Annual Results Conference agenda
FY 2025 Annual Results Conference #1 #2 #3 #4 Business Focus Topics Outlook Appendix Update Daimler Truck Group | FY 2025 Annual Results Conference 2
Slide 3: Group – Key figures 2025
Group – Key figures 2025 Adjusted ROS Free Cash Flow Net Industrial Revenue Adjusted EBIT - in bn Euro - - in bn Euro - Industrial Business Industrial Business Liquidity - in % - - in bn Euro - - in bn Euro - 49.4 3.8 7.8 1.8 7.7 2024: 54.1 2024: 4.7 2024: 8.9 2024: 3.2 2024: 8.6 -9% -19% -110bps -4
Slide 4: Resilient Industrial Business performance amidst persistent uncertainty in North America
Resilient Industrial Business performance amidst persistent uncertainty in North America Revenue 50.7 45.9 - in bn Euro - ROS adj. 8.9 7.8 - in % - Adj. EBIT 4,534 - in mn Euro - 475 155 3,596 -204 -1,364 t/o Trucks North America -1,059 Mercedes-Benz Trucks -89 Trucks Asia -19 Daimler Buses +166 FX
Slide 5: Book-to-bill ratio of 101% in 2025
Book-to-bill ratio of 101% in 2025 - Improving order momentum especially in Q4 Full year Development per quarter Unit sales Incoming orders Incoming Group Book-to-bill 140 orders sales ratio - in k units - - in k units - - in % - 124 124 Total 118 103 107 425 423 101 98 2024: 417 2024: 460 2024: 91
Slide 6: Further market drop in North America; EU30 market increase in Q4 2025
Further market drop in North America; EU30 market increase in Q4 2025 North America EU30 Total market Class 8 Total market HDT - in k units - - in k units - 350 350 293k average 297k average 300 300 290 - 330k 250 250 Market assumption 250 - 290k 200 Market assumption 200 150 150 2019 2020 2021 2022
Slide 7: 2025 in review: Product highlights
2025 in review: Product highlights Daimler Truck Group | FY 2025 Annual Results Conference 7 Daimler Truck Group | FY 2025 Annual Results Conference 7
Slide 8: Trucks North America with strong result despite negative tariff impact and freight recession
Trucks North America with strong result despite negative tariff impact and freight recession Revenue 23.8 18.7 - in bn Euro - Adj. ROS 12.9 10.7 - in % - Adj. EBIT 3,057 - in mn Euro - 115 55 1,998 -6 -1,223 − Volume − Tariffs − FX + Net pricing FX -103 FX +26 FX +30 FX -4 2024 Gross profit SG&A R&D
Slide 9: Mercedes-Benz Trucks with solid profitability
Mercedes-Benz Trucks with solid profitability; Mix and CDE effects partly offset by higher R&D Revenue 20.6 19.7 - in bn Euro - Adj. ROS 6.4 6.2 - in % - Adj. EBIT 1,319 - in mn Euro - 246 179 1,230 -177 -337 − Net pricing + CDE − Higher R&D + 2024 China JV − Production costs costs impairment + Mix
Slide 10: Daimler Buses demonstrates strength with 10.0% ROS
Daimler Buses demonstrates strength with 10.0% ROS in the decade of Bus Revenue 5.2 6.0 - in bn Euro - Adj. ROS 8.3 10.0 - in % - Adj. EBIT - in mn Euro - 239 599 -20 -14 -39 432 + Net pricing − Special item + Mix Q3 2024 from + Volume remeasurement + FX and sale of shares in a non- − Material cost
Slide 11: Robust performance at Trucks Asia due to strong pricing and cost discipline
Robust performance at Trucks Asia due to strong pricing and cost discipline despite FX headwinds Revenue 5.0 4.8 - in bn Euro - Adj. ROS 4.6 4.4 - in % - Adj. EBIT 231 - in mn Euro - 55 212 7 -11 -70 − FX + Efficiency − Mix + Net pricing + Volume FX -77 FX +18 FX +7 FX -6 2024 Gross profit SG&A R&D
Slide 12: Financial Services with strong margin development
Financial Services with strong margin development despite FX and cost of risk headwinds Contract vol. 32.2 29.5 - in bn Euro - Adj. ROE 5.0 6.1 - in % - Adj. EBIT - in mn Euro - 28 181 6 14 133 + Margin + Recoveries − FX − Cost of risk FX -51 FX +19 FX -5 2024 Gross profit SG&A Others 2025 Daimler T
Slide 13: Cash flow Industrial Business within upper half of guidance range
Cash flow Industrial Business within upper half of guidance range. Lower EBIT as main driver for lower FCF - in mn Euro - Free Cash Flow Net Industrial Liquidity Industrial Business 3,152 1,824 8,558 -1,462 7,670 -616 1,824 -634 2024 2025 YE 2024 FCF IB Dividends Buyback Other YE 2025 Daimler Truck
Slide 14: Annual Results Conference agenda
FY 2025 Annual Results Conference #1 #2 #3 #4 Business Focus Topics Outlook Appendix Update Daimler Truck Group | FY 2025 Annual Results Conference 14
Slide 15: Strong execution: Cost Down Europe ahead of plan
FIRST DRAFT Strong execution: Cost Down Europe ahead of plan; At least 250mn Euro impact expected in 2026 Net savings potential - in Euro - >1BN Plan Actual > 250MN >100MN 2025 2026 2027 2028 2029 2030 Base effect 2025 Base effect 2026 Plan Daimler Truck Group | FY 2025 Annual Results Conference 15
Slide 16: Unlocking global scale and growth potentials with ARCHION
Unlocking global scale and growth potentials with ARCHION; Total expected cash inflow of 1.5-2bn Euro ► Target structure: 25% owned by Daimler Truck and Toyota each ► Margin expansion: At-equity result boosting ROS ► Optimizing of capital employed ► Pivot towards heavy-duty Daimler Truck Group | FY
Slide 17: Annual Results Conference agenda
FY 2025 Annual Results Conference #1 #2 #3 #4 Business Focus Topics Outlook Appendix Update Daimler Truck Group | FY 2025 Annual Results Conference 17
Slide 18: Driving sustainable shareholder returns with a stable dividend proposal and share buyback
Driving sustainable shareholder returns with a stable dividend proposal and launch of previously announced share buyback Net profit EPS Free cash flow Dividend proposal Group Group Industrial Business 2025 - in bn Euro - - in Euro - - in bn Euro - 2.0 2024: 3.1 2.6 2024: 3.6 1.8 2024: 3.2 1.90 Euro
Slide 19: Market assumptions 2026
Market assumptions 2026 Heavy-duty truck market 2026 North America 250 – 290k units EU30 290 – 330k units Daimler Truck Group | FY 2025 Annual Results Conference 19
Slide 20: Daimler Truck segment guidance 2026
Daimler Truck segment guidance 2026 Unit sales Adjusted ROS/ROE - in k units - - in % - FY FY Guidance FY FY Guidance 2025 2025 2026 2025 2025 2026 Continuing & Continuing Continuing Continuing & Continuing Continuing discontinued operations operations2 discontinued operations operations2 operations
Slide 21: Daimler Truck Group and Industrial Business Guidance 2026
Daimler Truck Group and Industrial Business Guidance 2026 FY 2025 FY 2025 Guidance 2026 Group Continuing and discontinued operations Continuing operations Continuing operations1 Adjusted EBIT 3.8bn Euro 3.5bn Euro 3.2 – 3.7bn Euro IB Unit sales 423k units 315k units2 330 – 360k units2 Revenue 45.9bn
Slide 22: Annual Results Conference agenda
FY 2025 Annual Results Conference #1 #2 #3 #4 Business Focus Topics Outlook Appendix Update Daimler Truck Group | FY 2025 Annual Results Conference 22
Slide 23: Q4/24 – Q4/25 Incoming orders and unit sales by segment
Q4/24 – Q4/25 Incoming orders and unit sales by segment - in units - Trucks North America Mercedes-Benz Trucks Trucks Asia Daimler Buses 52,293 49,557 7,746 46,906 51,665 7,964 34,213 7,624 48,841 7,315 7,027 38,580 43,806 44,197 7,027 6,443 34,017 38,992 40,902 30,298 30,325 6,206 31,740 39,624 30,
Slide 24: Q4/24 – Q4/25 IB performance: Revenue by segment
Q4/24 – Q4/25 IB performance: Revenue by segment - in mn Euro - Daimler Truck Industrial Business Reconciliation 13,456 11,558 11,767 11,992 10,594 -783 -798 -857 -893 -1.195 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Trucks North America Mercedes-Benz Trucks 5,985 5,407 5,697 5,616
Slide 25: Q4/24 – Q4/25 IB performance: EBIT by segment
Q4/24 – Q4/25 IB performance: EBIT by segment - in mn Euro - Daimler Truck Industrial Business Reconciliation 1,073 1,108 1,095 1,029 -55 725 -97 -78 -112 673 -135 -127 668 611 -201 -179 484 475 -288 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 -741 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Adj. ROS 8.0% 9.6% 9.3% 6.3% 6.0% R
Slide 26: FY25 Net profit
FY25 Net profit - in mn Euro - 62 3,008 2,945 2,033 -975 FY 25 EBIT Interest income/expense FY 25 Profit before income taxes Income taxes FY 25 Net profit Daimler Truck Group | FY 2025 Annual Results Conference 26
Slide 27: Industrial Business – Transition Q4
Industrial Business – Transition Q4 Revenue 13.5 12.0 - in bn Euro - Adj. ROS 8.0 6.0 - in % - 1,073 Adj. EBIT 130 14 - in mn Euro - 725 -113 -378 t/o Trucks North America -430 Mercedes-Benz Trucks -73 Trucks Asia -27 Daimler Buses +73 FX -39 FX +29 FX +19 FX -3 Q4/24 Gross profit SG&A R&D Others Q4
Slide 28: Trucks North America – Transition Q4
Trucks North America – Transition Q4 Revenue 6.0 4.2 - in bn Euro - Adj. ROS 12.3 7.2 - in % - 737 Adj. EBIT 61 - in mn Euro - 307 -4 47 -534 − Volumes − Tariffs − FX − Net pricing FX -53 FX +14 FX +14 FX -2 Q4/24 Gross profit SG&A R&D Others Q4/25 Daimler Truck Group | FY 2025 Annual Results Confer
Slide 29: Mercedes-Benz Trucks – Transition Q4
Mercedes-Benz Trucks – Transition Q4 Revenue 5.7 5.6 - in bn Euro - Adj. ROS 8.1 7.0 - in % - Adj. EBIT 95 - in mn Euro - -10 463 -71 391 -88 + Mix − Higher − Net pricing R&D costs FX +24 FX 0 FX 0 FX 0 Q4/24 Gross profit SG&A R&D Others Q4/25 Daimler Truck Group | FY 2025 Annual Results Conference
Slide 30: Daimler Buses – Transition Q4
Daimler Buses – Transition Q4 Revenue 1.6 1.8 - in bn Euro - Adj. ROS 7.5 10.7 - in % - Adj. EBIT - in mn Euro - 103 189 -15 -10 -6 116 + Mix + Net pricing + FX − Inflation FX +26 FX 0 FX 0 FX 0 Q4/24 Gross profit SG&A R&D Others Q4/25 Daimler Truck GroupTruck Daimler | FY Group 2025 Annual Results
Slide 31: Trucks Asia – Transition Q4
Trucks Asia – Transition Q4 Revenue 1.4 1.3 - in bn Euro - Adj. ROS 3.1 1.4 - in % - Adj. EBIT 44 - in mn Euro - 7 -16 − FX + Efficiencies -12 18 − Net pricing -5 FX -36 FX +15 FX +6 FX -2 Q4/24 Gross profit SG&A R&D Others Q4/25 Daimler Truck GroupTruck Daimler | FY Group 2025 Annual Results | FY 2
Slide 32: Financial Services - FY25 Key figures
Financial Services - FY25 Key figures New business Penetration Contract Adjusted EBIT Adjusted ROE - in mn Euro - - in mn Euro - - in %- rate volume - in % - - in mn Euro at end of period - +8bps +37% +113bps -12% -8% 11,387 22.6 22.7 32,152 181 6.1 29,539 9,973 5.0 133 FY24 FY25 Daimler Truck Group
Slide 33: Financial Services – Transition Q4
Financial Services – Transition Q4 Contract vol. - in bn Euro - 32.2 29.5 Adj. ROE 4.4 7.3 - in % - Adj. EBIT - in mn Euro - 12 54 2 10 + Participation 31 + Recoveries + Margin + Cost of risk FX -12 FX +6 FX -3 Q4/24 Gross profit SG&A Others Q4/25 Daimler Truck Group | FY 2025 Annual Results Confere
Slide 34: Capital structure
Capital structure in mn Euro Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Group liquidity Cash and cash equivalents 6,939 7,753 8,648 Marketable debt securities and similar investments 1,923 2,572 2,725 Group gross liquidity 8,862 10,325 11,373 Total financing liabilities -29,175 -29,879 -29,860 Group net
Slide 35: Reporting changes due to planned Mitsubishi Fuso deconsolidation
Reporting changes due to planned Mitsubishi Fuso deconsolidation Segment P&L Group Until Q4 2025 Continuing operations are presented in the Consolidated Statement of Income; the profit or loss Industrial Business after tax of discontinued operations is shown in a Trucks North Mercedes-Benz Trucks Da
Slide 36: Disclaimer
Disclaimer Forward-looking statements This document contains forward-looking statements that reflect our current views about future events. The words “aim”, “ambition”, “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, ”can”, “could”, “plan”, “project”, “should” and similar e