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    DAI   DE0007100000

DAIMLER AG

(DAI)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/28 12:06:24 pm
70.005 EUR   -1.61%
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Chip shortage to cost Daimler Truck billions in revenues - Automobilwoche

11/28/2021 | 10:22am EST
FILE PHOTO: The Daimler logo is seen before the carmaker's annual shareholder meeting in Berlin

BERLIN (Reuters) - Daimler Truck Chief Martin Daum expects the global chip shortage to hit revenues by several billion euros this year and sees the problem continuing into next year, Automobilwoche reported on Sunday.

The world's largest commercial vehicle maker, to be spun off from Daimler on Dec. 10, has outlined cost-cutting measure aimed at boosting profit margins as it struggles with chip shortages hurting the entire sector.

Daum said there would be a significant financial hit.

"It is a huge sum," Daum told Automobilwoche, saying the company would sell a "mid five-digit number" fewer vehicles than it could have.

With an average price of 100,000 euros ($113,170) per vehicle, this means several billion euros in lost revenues, reported Automobilwoche.

"We also have many vehicles sitting in the factory where just one part is missing. These deliveries are a priority because they are already sold," said Daum.

He also told Automobilwoche that supply problems are likely to continue in 2022.

($1 = 0.8836 euros)

(Reporting by Madeline Chambers, Editing by Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIMLER AG -1.80% 69.87 Delayed Quote.5.27%
DAIMLER TRUCK HOLDING AG -1.22% 31.885 Delayed Quote.-0.68%
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Financials
Sales 2021 132 B 147 B 147 B
Net income 2021 12 660 M 14 116 M 14 116 M
Net cash 2021 17 729 M 19 768 M 19 768 M
P/E ratio 2021 6,12x
Yield 2021 6,26%
Capitalization 76 119 M 84 888 M 84 873 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,37x
Nbr of Employees 289 282
Free-Float 81,7%
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Technical analysis trends DAIMLER AG
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Mean consensus BUY
Number of Analysts 23
Last Close Price 71,15 €
Average target price 91,57 €
Spread / Average Target 28,7%
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Managers and Directors
Ola Kńllenius Chairman-Management Board
Harald Emil Wilhelm Chief Financial Officer
Bernd Pischetsrieder Chairman-Supervisory Board
Markus Schńfer Chief Operating Officer
Clemens A. H. B÷rsig Member-Supervisory Board
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