Traton Revenue Rises; Backs Guidance
By David Sachs
Traton backed its full-year guidance after earnings rose in the first half despite slightly lower unit sales.
The Volkswagen-owned truck-and-bus maker said Friday that its adjusted operating profit rose to 2.12 billion euros ($2.30 billion) from EUR1.80 billion in the first half of last year. That total lined up with analyst expectations of EUR2.11 billion, according to Visible Alpha consensus.
Traton's key profitability measure, adjusted operating profit margin, ended the period at 9.1%, slightly above analysts' expectations of 8.9% and above last year's 8.6% figure.
Revenue for the company behind Man, Scania, Navistar, and Volkswagen Truck & Bus climbed to EUR23.39 billion from EUR22.85 billion.
"This development is primarily attributable to a positive market and product mix and to good unit price realization in the Traton Operations business area," the company said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
July 26, 2024 02:45 ET (06:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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