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 at 106,715 (-5%), but profitability was maintained through cost controls and operational efficiency.

• Adjusted EBIT for Q2 was €1,118m, down 4% year-over-year, while net profit fell to €310m and EPS to €0.36.

• Major strategic initiatives included the integration of Mitsubishi Fuso and Hino, launch of the Coretura software JV with Volvo, and a major Bundeswehr contract.

• Free cash flow from industrial business improved to €20m in Q2, with net industrial liquidity at €5.9bn at quarter-end.

• Profitability was supported by cost controls and operational efficiency despite challenging market conditions.

Financial highlights

• Adjusted EBIT for Q2 was €1,118m, down 4% year-over-year, with adjusted return on sales for the group at 9.3%.

• Free cash flow for the industrial business was €20m (Q2), with net industrial liquidity at €5.9bn at quarter-end.

• 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%.

• Book-to-bill ratio for the group remained at 83% in Q2 2025.

Outlook and guidance

• Full-year adjusted EBIT guidance revised to €3.6–4.1bn; unit sales expected at 410,000–440,000; industrial revenue at €44–47bn.

• Adjusted return on sales for industrial business now expected at 7–9%; free cash flow guidance at €1.5–2bn.

• Segment guidance: Trucks North America ROS 10–12%, Mercedes-Benz Trucks 5–7%, Trucks Asia 4–6%, Buses 8–10%.

• Outlook is subject to geopolitical developments, global economic impacts, and ongoing macroeconomic risks.

• Group expects stronger cash generation in H2, with net industrial liquidity to exceed €6bn by year-end.