Traton Se · XETR:8TRA
Traton — Q3 2026 Earnings Presentation
26 slides from Traton's earnings presentation, Oct 28, 2026
Slide 1: Q3/9M 2026 Results Analyst / Investor Presentation
Q3/9M 2026 Results 1 Investor Relations 28/10/2026 Q3/9M 2026 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 28/10/2026
Slide 2: Agenda
Q3/9M 2026 Results 2 Investor Relations 28/10/2026 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q3/9M 2026 Results 3 Investor Relations 28/10/2026 DISCLAIMER This presentation has been prepared for information purposes only. The presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securitie
Slide 4: Key Results & Highlights
Q3/9M 2026 Results 4 Investor Relations 28/10/2026 KEY RESULTS & HIGHLIGHTS
Slide 5: Further acceleration in sales momentum with margin benefits and ramp-up headwinds
Q3/9M 2026 Results 5 Investor Relations 28/10/2026 FURTHER ACCELERATION IN SALES MOMENTUM WITH MARGIN BENEFITS AND RAMP-UP HEADWINDS 9M 2026 230,436 €33.3bn 6.9% €35m €5.21 253,147 +3% YoY +3% YoY +0.6pp YoY +€7m YoY +€3.14 YoY +25% YoY Q3 2026 Unit Sales Adjusted Net cash flow Earnings per share1 I
Slide 6: Book-to-bill below 1 as ramp-up gains traction
Q3/9M 2026 Results 6 Investor Relations 28/10/2026 BOOK-TO-BILL BELOW 1 AS RAMP-UP GAINS TRACTION EU27+3: Incoming orders & Unit sales (k units) ― Truck order intake only stable YoY in Q3 after a strong Q2 26; but Germany up 9% YoY in Q3 Incoming orders Unit sales 120 ― Truck unit sales slightly dow
Slide 7: Improved visibility supports refined regional market outlooks
Q3/9M 2026 Results 7 Investor Relations 28/10/2026 IMPROVED VISIBILITY SUPPORTS REFINED REGIONAL MARKET OUTLOOKS EU27+31 (k units, >6t) North America2 (k units, class 6-8) South America (k units, >6t) China (k units, >6t) 2026e: +2.5% – +7.5% (midpoint +5.0%) 2026e: +2.5% – +10% (midpoint +6.25%) 20
Slide 8: Strengthening customer value propositions across the Group
Q3/9M 2026 Results 8 Investor Relations 28/10/2026 STRENGTHENING CUSTOMER VALUE PROPOSITIONS ACROSS THE GROUP Scania launches Scania MAN and network International launches VWTB enters the light TFS continues to TRATON GROUP plans Dynamic, enhancing partners invest ~€700m Fleetrite.com, an commercial
Slide 9: Rising BEV demand supported by broader portfolio
Q3/9M 2026 Results 9 Investor Relations 28/10/2026 RISING BEV DEMAND SUPPORTED BY BROADER PORTFOLIO Unit sales of fully electric vehicles (units) Q3 26 9M 26 766 2,673 -6% YoY +29% YoY Incoming orders of fully electric vehicles (units) Q3 26 9M 26 1,049 3,196 +57% YoY +49% YoY
Slide 10: Financial Performance & Outlook
Q3/9M 2026 Results 10 Investor Relations 28/10/2026 FINANCIAL PERFORMANCE & OUTLOOK
Slide 11: Strong Q3 unit growth supports year-to-date performance
Q3/9M 2026 Results 11 Investor Relations 28/10/2026 STRONG Q3 UNIT GROWTH SUPPORTS YEAR-TO-DATE PERFORMANCE ― Q3 unit sales up by 10%, mainly driven by: Unit sales (k units) Sales revenue (€ bn) ― Strong increase in NA unit sales (+43% YoY) driven by improving freight economics and Vehicle Services
Slide 12: Stronger volumes support margin recovery, while cost headwinds persist
Q3/9M 2026 Results 12 Investor Relations 28/10/2026 STRONGER VOLUMES SUPPORT MARGIN RECOVERY, WHILE COST HEADWINDS PERSIST Increase in Q3 adj. RoS YoY due to: Adjusted operating result (€ m) Adjusted return on sales (%) ― Higher unit sales ― Improved fixed cost absorption 9M 26 9M 26 ― Positive pric
Slide 13: Growth broadening across brands and financial services
Q3/9M 2026 Results 13 Investor Relations 28/10/2026 GROWTH BROADENING ACROSS BRANDS AND FINANCIAL SERVICES TRATON Operations1 Q3 Sales revenue 10,852 4,414 3,358 2,474 765 668 26 (in € m, YoY) (+9%) (+5%) (-0%) (+36%) (+11%) (+25%) Adj. operating result 829 542 154 61 77 79 (in € m, YoY) (+12%) (+16
Slide 14: Sinotruk proceeds support net debt reduction amid seasonal cash flow pattern
Q3/9M 2026 Results 14 Investor Relations 28/10/2026 SINOTRUK PROCEEDS SUPPORT NET DEBT REDUCTION AMID SEASONAL CASH FLOW PATTERN ― Net cash flow of TRATON Operations in 9M 2026 Net liquidity/net debt bridge, 9M 2026 (€ m) TO = TRATON Operations Sinotruk effects characterized by: CI = Corporate Items
Slide 15: Momentum supports full-year outlook
Q3/9M 2026 Results 28/10/2026 MOMENTUM SUPPORTS FULL- YEAR OUTLOOK FY 2025 FY 2026 Actuals Outlook (since Q2 results) TRATON GROUP Unit sales (units) 305,486 0 to +7% Sales revenue (€ million) 44,052 0 to +7% Operating return on sales (adjusted) (in %) 6.3 6.3 to 7.3 TRATON Operations Sales revenue
Slide 16: Backup
Q3/9M 2026 Results 16 Investor Relations 28/10/2026 BACKUP
Slide 17: TRATON Operations – Incoming Orders
Q3/9M 2026 Results 17 Investor Relations 28/10/2026 TRATON OPERATIONS – INCOMING ORDERS Incoming orders (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON Operations 66,434 58,982 64,353 73,806 263,575 74,307 65,292 62,512 79,214 281,325 87,775
Slide 18: TRATON Operations – Incoming Orders by Region
Q3/9M 2026 Results 18 Investor Relations 28/10/2026 TRATON OPERATIONS – INCOMING ORDERS BY REGION Incoming orders (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Trucks 53,034 45,098 50,823 59,564 208,519 58,891 52,500 50,426 62,426 224,243 71,100
Slide 19: TRATON Operations – Unit Sales
Q3/9M 2026 Results 19 Investor Relations 28/10/2026 TRATON OPERATIONS – UNIT SALES Unit sales (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON Operations 81,148 78,962 85,274 88,831 334,215 73,090 79,996 71,429 80,971 305,486 68,604 82,925 78
Slide 20: TRATON Operations – Unit Sales by Region
Q3/9M 2026 Results 20 Investor Relations 28/10/2026 TRATON OPERATIONS – UNIT SALES BY REGION Unit sales (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Trucks 68,772 63,600 72,861 72,897 278,130 57,566 63,742 54,929 63,546 239,783 53,535 65,060 64,
Slide 21: TRATON Group – Sales Revenue
Q3/9M 2026 Results 21 Investor Relations 28/10/2026 TRATON GROUP – SALES REVENUE Sales revenue (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 11,798 11,589 11,866 12,220 47,473 10,606 11,300 10,416 11,729 44,052 10,231 11,764 11,327 -4%
Slide 22: TRATON Group – Operating Result & Return on Sales
Q3/9M 2026 Results 22 Investor Relations 28/10/2026 TRATON GROUP – OPERATING RESULT & RETURN ON SALES Operating result (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 1,057 1,008 1,038 1,106 4,209 651 607 465 703 2,426 60 914 751 -18% 61
Slide 23: TRATON Group – Adj. Operating Result & Adj. Return on Sales
Q3/9M 2026 Results 23 Investor Relations 28/10/2026 TRATON GROUP – ADJ. OPERATING RESULT & ADJ. RETURN ON SALES Adj. operating result (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 1,106 1,015 1,140 1,123 4,384 646 725 668 734 2,773 582
Slide 24: TRATON Operations – Cash and Liquidity
Q3/9M 2026 Results 24 Investor Relations 28/10/2026 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Gross cash flow 1,423 1,452 1,398 1,536 5,809 935 1,036 1,099 1,197 4,267 657 1,404 1,337 -68
Slide 25: TRATON Group – Debt Maturity Profile
Q3/9M 2026 Results 25 Investor Relations 28/10/2026 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 30 SEPTEMBER 2026) Major financings 2 Maturity profile (€ bn)1 ― Total of €13.0bn (equivalent) TFL Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn 12.0 ― €50m Schuldschein outsta
Slide 26: IR Contact and Events
Q3/9M 2026 Results 26 Investor Relations 28/10/2026 IR CONTACT AND EVENTS Contacts Upcoming events Ursula Querette Thomas Paschen Head of Investor Relations Investor Relations 28-30 Oct 2026 Jefferies Post Q3 2026 Roadshow | Frankfurt & +49 152 021 52 400 +49 170 907 34 94 Virtual ursula.querette@tr