© Reuters. The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke
(Reuters) – Daimler (OTC:) Truck set new ambitious targets for its bus division on Monday, now guiding for adjusted return on sales to rise to 8% from next year and to 9% by 2030.
Last year, the bus division’s adjusted return on sales recovered to 4.7% after weak sales during the pandemic.
“We are firmly convinced that this is the ‘decade of the bus’,” said Chief Executive Till Oberwoerder in a statement.
The German truck and bus maker said it plans to become more profitable even in “less than ideal” economic conditions, citing rising demand for environmentally friendly means of transport.
Daimler Truck raised its dividend after posting better-than-expected earnings in 2023, boosted by strong post-pandemic demand, but pointed to markets returning to normal levels this year.
