Daimler Truck Starts Trading On Frankfurt Stock Exchange; Stock Up

Daimler Truck AG, which was split from German automaker Daimler AG (DDAIF.PK), started trading its shares on the Frankfurt Stock Exchange, marking probably the most important milestone in its history.

On the first day of its trading, the commercial vehicle manufacturer's shares are currently at 29.81 euros, a growth of 6.46 percent.

Daimler Truck shares are traded on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange under the stock symbol DTG. The company expects its shares to be listed in the Regulated Market of the Frankfurt Stock Exchange in the DAX index, which has been expanded to 40 members, at the next possible date - probably in the first quarter of 2022.

Following the spin-off from Daimler AG after 125 years, Daimler Truck said it is consistently and continuously focusing on improving profitability. The company aims to achieve a double-digit return on sales in its industrial business by 2025, assuming strong market conditions.

Based on its proven cash generation and strong balance sheet, Daimler Truck has received solid investment grade credit ratings.

Jochen Goetz, CFO of Daimler Truck Holding, said, "Daimler Truck is also financially in a very good starting position for our entrepreneurial independence. Our balance sheet is rock solid and we have already proven in the past how reliably we can generate an attractive cash flow. We are now putting all our energy into fully exploiting our earnings potential and driving forward the transformation to emission-free transport in a focused manner."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Asweets Global Inc. is recalling about 2,000 units of Wonder & Wise Activity Tables for potential risk of choking hazard to young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the screws of the tables can become loose and/or detach from the xylophone component of the activity tables to pose a choking hazard to young children. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday a net loss for the fourth quarter that sharply widened from last year, despite 9 percent growth in revenues, hurt by a decreases in the market prices of our equity investments in publicly-traded companies. Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a first-quarter net income of $286 million or $0.98 per share, sharply higher than $103 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $315 million or $1.08 per share, compared...
Follow RTT