Daimler Truck (DTG) Q2 2025 earnings summary

Executive summary

• Revenue and unit sales declined year-over-year in Q2 2025, with Q2 revenue at €11.7bn (-6%) and unit sales down 5% to 106,715 units.

• Adjusted EBIT was stable at €1,118m in Q2, while reported EBIT dropped sharply to €494m due to special items.

• Net profit for Q2 2025 was €310m, with EPS at €0.36, both down over 60% year-over-year.

• Major strategic moves included definitive agreements to integrate Mitsubishi Fuso and Hino, and the launch of Coretura JV with Volvo Group.

• Profitability was maintained through cost controls and operational efficiency despite challenging market conditions.

Financial highlights

• Adjusted group EBIT was €1.1 billion, flat year-over-year, with adjusted return on sales at 9.3%.

• Net industrial liquidity at quarter-end was €5.9 billion, down from €7.9 billion in Q1.

• Free cash flow for the industrial business was €20 million in Q2, or €96 million on an adjusted basis.

• Group net debt increased to €20,313m, with group gross liquidity at €8,862m.

• Financial Services contract volume at period end was €29,682m, with adjusted ROE at 3.1%.

Outlook and guidance

• Group adjusted EBIT guidance revised to €3.6–4.1 billion; unit sales to 410,000–440,000; industrial revenue to €44–47 billion; adjusted return on sales to 7–9%; free cash flow to €1.5–2 billion.

• Trucks North America full-year profitability now expected at 10–12% due to lower unit sales.

• Segment guidance: Mercedes-Benz Trucks 5–7%, Trucks Asia 4–6%, Buses 8–10%.

• Cash generation expected to be back-end loaded, with stronger performance in Q4.

• Outlook is subject to geopolitical developments and global economic impacts.